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Archive for the ‘Sales’ Category

Is Toyota Next to Pare Back its Passenger Car Line?

US CEO “taking a hard look” at model mix in the era of the SUV.

by on Nov.06, 2018

No longer #1; the Camry is just one of the Toyota passenger car models losing momentum.

With the exception of the Mustang, Ford is winding down production of passenger cars. Fiat Chrysler has eliminated almost all of its sedans and coupes, as well. In an era when SUVs have come to rule the roads, could Toyota be far behind?

While we’re not likely to see the Camry or Corolla nameplates vanish anytime soon, the Japanese giant is also rethinking its model mix and could toss some of its sedans, coupes and hatchbacks as it puts more of an emphasis on sport and crossover-utility vehicles, according to the head of its North American operations.

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“We are taking a hard look at all the segments we compete in, to make sure we are competing in profitable segments and that products that we sell have strategic value to the brand,” Jim Lentz told the Wall Street Journal.

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Toyota Earnings Soar on Global Sales Surge

Automaker lifts full-year forecast.

by on Nov.06, 2018

Strong demand for Lexus, especially in the Chinese market, helped Toyota deliver strong earnings.

Toyota Motor Corp. reported a 28% increase in its net profit for the July-September quarter, earnings buoyed by strong demand in key global markets, including the Americas, Asia and Europe.

The Japanese giant also advised that it expects to see earnings push past earlier forecasts for the full year, in part driven by unexpectedly strong demand in China. Sales of the Lexus brand, have been booming there, despite a slowdown in the overall Chinese market.

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Sales gains were only one of the factors that propped up Toyota’s bottom line, said Senior Managing Masayoshi Shirayanagi. Referring to aggressive cost-cutting efforts, he said, “We are steadily making progress toward achieving our challenge-level target.”

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Cadillac Suspends Subscription Plan

No word on what will replace Book by Cadillac.

by on Nov.05, 2018

Book by Cadillac, the brand's new subscription service, has been suspended until next year.

General Motors’ Cadillac division is hitting pause on its vehicle subscription service, Book by Cadillac, then it will be relaunched early next year.

Andrew Lipman, a Cadillac spokesman, confirmed the plans, following a Wall Street Journal report that Cadillac was planning kill the program.

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“Book by Cadillac is not canceled,” Lipman said. “We are stopping it for a short period of time to then relaunch it based off the learning we have made in early Q1. We are hitting the pause button and we will be back.” Lipman told Automotive News. Part of the problem Cadillac’s subscription program was that at $1,800 per month it was too pricey. (more…)

Tesla Expects to Spend as Much as $6B in Next Two Years

Money to be used for product development, China plant.

by on Nov.02, 2018

Tesla's move to build a new plan in China will include up to $3 billion to for a new plant and other expenditures.

Already plagued by rumors of needing to raise additional money, Tesla officials expect to spend between $5 billion and $6 billion in the next two years to expand production.

The company, which revealed the plan in its quarter filing with the Securities and Exchange Commission, is making big moves with the money.

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Tesla will spend between $2.5 billion and $3 billion in capital expenditures readying the business for increased Model 3 production, development on its next vehicle, the Model Y, the second-generation Roadster and other projects, according to the filing. (more…)

Tesla Hit with Three Subpoenas by SEC

EV maker reveals new info in quarterly filing.

by on Nov.02, 2018

Tesla CEO Elon Musk's was subpoenaed by the SEC related to the plans to take Tesla private.

Just days after telling the world they had not been served with any subpoenas regarding its predictions or discussions about production of the Model 3, Tesla Inc. officials said they’ve been served with three of them.

That was Oct. 26, but in its quarterly filing with the SEC dated Nov. 2, things had changed.

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In the filing, the company said it was served with three subpoenas by the Securities and Exchange Commission. The company notes that no government supervisory or law enforcement agencies have found them guilty of anything. (more…)

First Official Look: 2019 BMW 8-Series Convertible

New Bavarian flagship rolls back its top.

by on Nov.01, 2018

BMW's got a replacement for the 6-Series convertible with the new 850i for 2019.

We’ve been seeing some leaked images in recent days, but now we can offer you an official first look at BMW’s new flagship convertible.

There were more than a few folks disappointed to learn that the 6-Series Cabriolet was going away. But if you have the budget, it’s going to be difficult to complain about the new 850i ragtop. Oh, and yes, it skips the hardtop approach taken by some premium convertibles in favor of a more traditional cloth top.

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Set to make its official debut later this month at the Los Angeles Auto Show, the sleek new cabrio has a lot in common, as you’d likely expect, with the coupe version of the 8-Series that made its formal debut early in October at the Paris Motor Show. (more…)

New Vehicle Prices Continue to Rise in Fourth Quarter

More content, higher interest rates driving increase.

by on Nov.01, 2018

Ford's new SUV sales are on the rise, as is its average transaction price by $1,400 per vehicle.

Despite predictions of an overall decline, U.S. auto sales rose slightly in October, led by companies with shiny new sport-utilities and crossovers to offer buyers.

However, those more desirable vehicles combined with rising interest rates are resulting in new vehicle prices that are on the rise. This is likely, at least according to one automaker, put a dent in sales for the remainder of the year.

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During its sales call, executives at Ford Motor Co. warned sales numbers will continue to fall in 2018, in part because of the rising interest rates pushing up prices. (more…)

FCA, Honda and VW Lead October Auto Sales

Ford, Toyota and Nissan struggle in first month of new quarter.

by on Nov.01, 2018

The Jeep Wrangler led Fiat Chrysler to a 16% sales jump in October. The vehicle is setting new sales records.

Fiat Chrysler Automobiles N.V., Honda and Volkswagen of America set the mark for industry sales in October, reporting sales increases, while rivals such as Ford Motor Co, Toyota and Nissan struggled as sales of new vehicles slowed in October.

FCA’s 15% jump in sales was paced by Jeep, particularly the new Jeep Wrangler, which is setting sales records, and the Ram brand.

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Honda, meanwhile, said its sales increase by 6.4% thanks not only to strong sales of its trucks and sport-utility vehicles, but also of its electrified vehicles, which set a record for the second consecutive month, according to the company’s sales release.  (more…)

GM Handily Beats Earnings Forecast, Buoyed by Truck Sales

Shares soar in pre-bell trading.

by on Oct.31, 2018

GM's Renaissance Center headquarters in Detroit.

General Motors delivered a positive surprise to analysts and investors on Wednesday morning, delivering significantly stronger earnings than had been forecast, buoyed by surging demand for its light truck line-up, including the completely redesigned Chevrolet Silverado pickup.

The announcement stands in sharp contrast to rival Ford Motor Co. which, last week, reported a significant decline in third-quarter income, despite strong demand for models like its F-150.

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GM said it earned a net of $2.53 billion during the July-to-September quarter, or $1.75 a share. A year ago, it lost $2.98 billion, or $2.03 a share, though that figure largely reflected the cost of completing the sale of its European-based Opel subsidiary to France’s PSA Group.

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FCA May Reassess Plan to Move Ram Pickup out of Mexico

Company may need to continue production South of the Border to meet strong demand.

by on Oct.29, 2018

Fiat Chrysler outsold rival Ford Motor Co. in September, led by strong sales of its Ram pickup truck.

While Fiat Chrysler Automobiles said Monday it is moving ahead with plans to shift production of its Ram pickup from Mexico to Michigan, a statement appeared to open up the opportunity that it will continue to build the newly redesigned truck at its Saltillo, Mexico plant.

Such a decision would be a critical one by new FCA CEO Michael Manley and likely reflect the fact that demand for the 2019 Ram truck is so strong the company’s current U.S. operations simply can’t keep up, resulting in potential customers having to shift to products like the Ford F-Series and the two newly redesigned trucks launched this year by General Motors.

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“Moving the Ram Heavy Duty to Warren from Mexico is our plan of record. Of course, we always assess latest market and economic conditions when making significant industrial moves,” FCA said in a statement on Monday. (more…)