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Archive for the ‘Sales’ Category

Auto Loan Delinquency Rate Higher than Great Recession

Young buyers finding it tough to make car and student loan payments.

by on Feb.13, 2019

Auto loan delinquencies are on the rise, and are higher than during the Great Recession.

The Federal Reserve Bank of New York reports that more than 7 million Americans are delinquent on auto loans, even more than during the Great Recession.

The figures, which were part of New York Fed’s quarterly report on household credit, suggest that many consumers are having a difficult paying their bills. Rising prices for both new and used vehicles also are factor, economists said.

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“Although rising overall delinquency rates remain below 2010 peak levels, there were over 7 million Americans with auto loans that were 90 or more days delinquent at the end of 2018. That is more than a million more troubled borrowers than there had been at the end of 2010 when the overall delinquency rates were at their worst since auto loans are now more prevalent.  (more…)

BMW Pumps Up with New X3 M and X4M Utes

Competition package delivers 503 hp.

by on Feb.13, 2019

BMW will start delivering the new X3 M and X4 M to U.S. customers in April.

BMW is putting the emphasis on “sport” with two new sport-utility vehicles, the 2020 X3 M and X4 M.

The compact models get the BMW M treatment for the first time, and it starts out with a twin-turbo inline-six that, in Competition trim, will push as much as 503 horsepower to the pavement – enough to launch from 0 to 60 in just 4.1 seconds.

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Both of the new models will be assembled at the Bavarian automaker’s South Carolina assembly plant, BMW notes, something that should minimize the impact should Pres. Donald Trump authorize new tariffs on European auto imports, as he has been threatening. That said, don’t expect them to come cheap. (more…)

Ram Aims for Commercial Customers With New HD Trucks

Brand focuses on truck's flexibility to lure buyers.

by on Feb.08, 2019

Jim Morrison, director of marketing, Ram Brands, introduced Ram's new commercially oriented heavy-duty trucks at the Chicago Auto Show.

Ram is hoping to lure more buyers to commercial-oriented heavy-duty pickups with a new 2019 Ram 3500, 4500 and 5500 Chassis Cab, geared specifically to be put to work in a variety of different situations.

Jim Morrison, director of marketing for the Ram Brands, said the new family of heavy-duty chassis cabs will also delivers a package with more capability, more comfort and more technology.

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With a segment-leading towing capacity of up to 35,220 pounds, the highest Gross Combined Weight Rating of 43,000 pounds and payload up to 12,510 pounds, Ram’s haulers are built for heavy-duty work while achieving new levels of efficiency and upfitter friendliness, Morrison said. (more…)

Daimler AG Profits Fall as Car, Van Division Sales Drop

Mercedes fails to meet last year's profit, sales marks.

by on Feb.08, 2019

Daimler AG Chairman Dieter Zetsche fields questions from the media during the company's annual earnings press conference.

Daimler AG said its fourth-quarter operating profit fell 22% as trade wars and ballooning costs for developing electric and self-driving cars took a bit out of the company’s profits.

The German automaker’s earnings before interest and tax or EBIT dropped to 2.67 billion euros in the fourth quarter, falling short of analyst expectations of 2.92 billion euros.

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Mercedes-Benz said increased tariffs on vehicles imported from the United States to China and delivery stoppages for individual diesel models hit demand and resulted in weaker prices. (more…)

Tesla Cutting Price on Model 3 — Again

Automaker searching for ways to meet $35K benchmark.

by on Feb.06, 2019

Tesla cut the price of the Model 3 – this time $1,100 – for the second time in recent weeks. The first cut was $2,000.

Tesla Inc. is lowering the price on its entry-level Model 3 sedan by $1,100. It’s the second time the company has cut the price on the vehicle as it attempts to keep it affordable as federal tax incentives for the vehicles continue to fall.

The Palo Alto, California-based automaker previously lopped $2,000 off the price of the company’s best-selling vehicle to help offset the drop in the federal tax credit from $7,500 to $3,750 after the beginning of the year.

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Tesla’s tax credit began phasing out for Tesla in January. The price cuts make the starting price of the Model 3, according to Reuters, $42,900, which still higher than the $35,000 the company touted it would be when the sedan was first introduced. (more…)

Auto Dealers Get Nervous as Inventory Continues Rising

Sales expected to fall later in year.

by on Feb.06, 2019

Auto dealers are expressing concern about new vehicle inventory levels early in the year.

Car dealers and manufacturers keep a careful watch on inventories and a rising level of unsold vehicles in dealer hands is drawing attention and concern both for the health of the industry and of the overall economy.

The American International Automobile Dealers Association, or AIADA, is reporting that car dealers are beginning 2019 with a heavier inventory of unsold vehicles on their lots, a situation that some analysts say will put pressure on them to push for cuts in factory output as U.S. auto sales are expected to cool this year.

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Most forecasts call for vehicle sales to drop to between 16.8 million to 17 million units this year, which is a decline of between 200,000 to 400,000 units from 2018.  (more…)

Compact Mazda CUV to Break Cover in Geneva

CX-3? CX-4? We do know it will get a breakthrough engine.

by on Feb.05, 2019

Mazda is preparing to show off a new crossover at the Geneva Motor Show, but if its a CX-3 or CX-4 is anyone's guess.

Mazda has released a very well-camouflaged teaser image of a “new compact SUV” coming to the Geneva Motor Show a month from now.

Problem is, the accompanying text opens up more questions than it answers, including the most basic: will it go by the name Mazda CX-3, replacing the current small crossover, or be dubbed the CX-4? There seems to be a fairly big split among industry-watchers as to which will prove to be correct.

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But it does appear that we have an answer to two other questions. For one thing, the new crossover will be “the first production car to feature Mazda’s innovative SPCCI technology,” the company confirms, a reference to what is more often referred to as the SkyActiv-X engine. (more…)

Nissan Tweaks Pathfinder with New Rock Creek Package

New offering adds to functionality, performance of SUV.

by on Feb.05, 2019

Nissan is looking to generate a little excitement with its new Rock Creek package for the Pathfinder.

Looking to generate a little excitement, Nissan is showing off its new Pathfinder Rock Creek Edition — a special package of exterior and interior add-ons designed to “emphasize” the ute’s rough-and-tumble heritage.

The new package, which goes on sale this spring for $995, can be had in seven different exterior colors on the SV and SL trim levels in two-wheel and all-wheel drive configurations, officials noted.

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“The Rock Creek Edition name was chosen to connect to Pathfinder’s family outdoor adventure-minded target customers,” said Scott Shirley, vice president, CMM & Marketing Operations, Nissan North America, Inc.  (more…)

First Look: 2020 Chevrolet Silverado HD

Bigger, more powerful, more variants.

by on Feb.05, 2019

Chevrolet unveiled its full line-up of HD trucks at the Flint Assembly plant where they're produced.

Ahead of its public debut at the Chicago Auto Show later this week, Chevrolet has pulled the wraps off its all-new 2020 Silverado HD.

The heavy-duty pickup will go up against an assortment of all-new or upgraded models in what has become one of the industry’s most competitive, albeit most profitable, market segments. The bowtie brand is hoping to nonetheless “conquest” buyers away from competitors Ford and Ram by offering up a truck that is longer, more powerful and offers an array of new features, including a “Transparent Trailer” system that makes it possible to see the road behind even when towing a boat or camper.

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“We set out to make the best HD trucks on the market, bar none,” said Jaclyn McQuaid, the chief engineer for both the 2020 Chevrolet Silverado, as well as the Sierra HD recently unveiled by sibling brand GMC. (more…)

Chevrolet Amps Things Up in Heavy Duty War With Silverado HD Debut

“It’s a war” as automakers fight for dominance in the high-profit HD market.

by on Feb.05, 2019

Lead Designer Rick Scheer unveils the new 2020 Chevy Silverado HD line-up at the Flint, Michigan-plant that builds the trucks.

Chevrolet has become the latest in a string of brands to upgrade its entry into the booming, high-profit heavy-duty truck segment.

The 2020 Chevy Silverado HD made its official debut Tuesday at General Motors’ newly updated factory in Flint, Michigan. The oldest and longest continuously operated assembly plant in the GM network, the Flint factory underwent a $1.5 billion makeover to prepare for the launch of the new trucks.

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While the U.S. new vehicle market is expected to slip slightly this year, there were few signs of concern among GM officials, the automaker’s President Mark Reuss declaring, “We are so bullish about our trucks this year … we predicted stronger-than-expected earnings in 2019.” (more…)