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Archive for the ‘Sales’ Category

German Automakers Face 50:50 Chance of Collapse, VW CEO Warns

Herbert Diess warns battery-cars could cost jobs – and may not be as clean as promised.

by on Oct.16, 2018

VW boss Herbert Diess, left,helps unveil the VW BUDD-e and eGolf Touch electric concepts.

When the U.S. economy collapsed a decade ago two of the three Detroit-based automakers plunged into bankruptcy, surviving only with the help of a massive federal bailout – and that’s the fate that could be facing the German auto industry, as well, the CEO of Volkswagen warned today.

The country’s powerful auto industry faces a 50:50 chance of suffering the same fate that nearly destroyed Detroit’s Big Three manufacturers, Herbert Diess said during a supplier conference in Wolkfsburg VW’s home town.

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“From today’s point of view the chances are perhaps 50-50 that the German auto industry will still belong among the global elite in 10 years’ time,” said Diess, who was appointed VW’s chief executive earlier this year, following a senior management shake-up.

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Teslaquila Coming to a Party Near You? Trademark Filing by Musk Says Likely Yes

Flame throwers. Surf boards. Tequila? Maybe.

by on Oct.15, 2018

Is this Tesla CEO Elon Musk's latest short-term brainchild to make some cash or could it be a viable enterprise.

Tesla. SpaceX. The Boring Co. Teslaquila? In late spring, Tesla CEO Elon Musk poked fun at Tesla critics in a playful tweet suggesting he had seen the writing on the wall and drown his sorrows in several bottles of “Teslaquila.”

That soon could be reality. Not the passing out part, but the tequila named after the company could after he filed an “intend to use” trademark application Monday for a tequila called Teslaquila.

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Neither Musk nor Tesla officials have elaborated on the filing, but the application implies a “good faith intention” to use the trademark in the future. Now Musk has a history of creating “businesses” on a whim, such as Not a Flamethrower flamethrowers, Tesla surfboards and others. (more…)

GM Offers First-Ever Extended Bumper-to-Bumper Warranty

Company claims it could raise resale values.

by on Oct.15, 2018

GM's new extended warranty is accepted at all GM dealers across the U.S.

The difference between buying one new vehicle or another can often come down to the tiniest of things, but General Motors is now offering a big thing that it hopes will make a big difference: an extended bumper-to-bumper warranty.

The company is offering what it is calling the first ever true extended bumper-to-bumper warranty that covers Chevrolet and GMC products for five years or 60,000 miles, whichever comes first, while Cadillac and Buick owners can get a six-year or 75,000-mile warranty.

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“One of the best things about buying a new vehicle is the peace of mind that comes with the warranty,” said Ken Mac, director of Chevrolet, Buick, GMC, Cadillac Protection.  (more…)

Average Age of Vehicles in the U.S. is Higher than Ever

Average car is now 10.5 years old.

by on Oct.12, 2018

The average age of a vehicle on U.S. roadways these days is 10.5 years.

The average age of a vehicle driven in America has steadily risen during the past few years and the latest study reveals that the average is even higher still – 10.5 years in 2017 up from 9.3 years in 2009 – but it also unmasks some other interesting facts.

First, trucks are kept much longer than vehicles on average while SUVs are kept less, although that could be related to the recent surge in SUV sales offsetting the overall ages of utes in the market. Car sit in between, the two.

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The average age of a pickup truck in 2009 was 11.2 years and now it is 13.6 years: a difference of 2.4 years. Meanwhile SUVs in 2009 were an average of 7.1 years old and as of last year, they were 8.5 years old. (more…)

New Chevy Silverado Turbo-Four Nabs Top Mileage Rating

For many truck buyers, mileage matters as much as payload, towing.

by on Oct.10, 2018

The 2019 Chevrolet Silverado will get up to 20 mpg in the city with the new turbo-four engine.

Who says pickup buyers only focus on power, payload and towing capacity? Operating costs are, for many customers – and especially those operating truck fleets – one of the most important factors they consider when choosing what model to buy.

That includes service and repairs, of course, but fuel costs are one of the biggest concerns, which is a key reason why automakers have been offering buyers a growing range of alternatives to the classic, big displacement V-8s that long dominated the full-size pickup segment.

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Chevrolet is hoping it will score a hit with potential buyers with the new, 2.7-liter turbocharged engine it is adding to its powertrain option list for the all-new 2019 Silverado. While not quite up to the numbers delivered by some of the diesel engines now available in the full-size segment, Chevy’s turbo-four nabs a tie as the most fuel-efficient gas engine available for U.S. buyers.

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Volvo Scrambles as Trump Tariffs Shatter Export Plans for New U.S. Plant

China market closed, “I need to find a substitute," says US CEO.

by on Oct.10, 2018

Volvo's new plant near Charleston, S.C., is churning out new S60s. It will add the XC90 in 2021.

Volvo’s plans for its first-ever American assembly plant have been thrown into turmoil as a result of Pres. Donald Trump’s trade war with China, something that will result in fewer auto exports from the South Carolina factory, potentially impacting hiring plans, the automaker’s U.S. CEO told TheDetroitBureau.com.

Volvo initially planned to use the Charleston facility as its global source for the all-new S60 sedan, while also producing some of its popular XC90 crossovers. Fully half of the assembly plant’s production was earmarked for China and other overseas markets, noted Anders Gustafson. But the administration’s escalating trade war has resulted in China boosting tariffs on American-made vehicles and parts from 25% to 40%, even as it reduces duties on auto imports from other trade partners to 15%.

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“Now, we cannot export to China” because the S60 would be priced out of the market, Gustafson, the president and CEO of Volvo Car USA, said during an interview near Los Angeles, where the company was offering journalists a first drive of the S60. “In this segment, you can’t raise prices because of competitiveness.” (more…)

Trump Set to Allow Year-Round Sale of E15 Fuel

President appears to be catering to corn farmers.

by on Oct.09, 2018

President Donald Trump is expected to lift the summer time sales ban on E15 gasoline, allowing year-round sales.

President Donald Trump is looking to make farmers happy, corn farmers anyway, with plans to remove the ethanol restriction on gasoline and allow E15 blends to be sold year-round.

Currently, the blend is banned between June 1 and Sept. 15 each year because of concerns that the special blend combines with the higher summer temps to produce smog. Advocates for ethanol claim the charge is unfounded.

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E15 contains 15% ethanol while most gasolines are already made up of 10% ethanol.  (more…)

VW Back in the Global Sales Lead, But Toyota Returns to #2

Final months of 2018 could bring an epic battle.

by on Oct.08, 2018

Volkswagen appears to be the top selling automaker in the world with less than three months left in the year.

With 2018 quickly drawing to a close, Volkswagen appears to have cemented the global sales crown to its corporate head, rapidly gaining ground from its two closest competitors.

But rivals Toyota and the Renault-Nissan-Mitsubishi Alliance are facing a classic, neck-and-neck battle that could see them fighting it out until the last sale is counted, according to data compiled by research firm Focus2Move, for second place.

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One long-time contender, meanwhile, has dropped out of the race entirely. General Motors, which led the global auto industry for more than seven decades, is well out of the running after selling off its European Opel subsidiary and shuttering operations in several other markets, including Russia and India. (more…)

Strong Demand, Interest Rates Causing Jump in Used Car Prices

Compact, midsize sedans driving the shift.

by on Oct.08, 2018

Used vehicle prices are on the rise and that's unlikely to change in the near term, especially for compact and midsize sedans.

Car buyers looking for a deal by getting a used car are going to be sorely disappointed — used vehicle prices are on the rise.

According to the latest data from Manheim, used vehicle values set a new record for the third month in a row, which is unusual. The abnormal summer bounce began in mid-June and drove prices higher for 11 straight weeks.

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That changed some with the arrival of September, which saw several weeks of normalizing depreciation. However, it wasn’t enough to offset the overall jump in prices as 3-year-old vehicles are now worth 4.5% more than they would normally be worth had typical depreciation occurred through July and August, according to Manheim. (more…)

VinFast Amps Up Ambitions After Strong Debut in Paris

Look for it to target markets outside SE Asia. Europe could follow.

by on Oct.04, 2018

VinFast CEO Jim DeLuca, center left, unveils the company's two offerings with Miss Vietnam, left, and David Beckham, right.

The world’s newest automaker is rapidly ramping up its plans.

Little more than a month ago, during a visit to the new VinFast headquarters and manufacturing complex in Haiphong, an hour outside Hanoi, company officials told TheDetroitBureau.com they were set to focus on the fast-growing Vietnamese automotive market, though they hinted they might look beyond the country’s borders at some time in the future.

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That future has apparently come fast. Following a well-reviewed debut of its first two products at the Paris Motor Show earlier this week, VinFast CEO Jim DeLuca revealed in an exclusive interview that “within a year we’ll be able to announce markets outside Vietnam and outside ASEAN (a trade bloc of Southeast Asian nations), to be clear. We’ve got our sights set both domestically and beyond.” (more…)