Archive for the ‘Leasing’ Category
Best deals on sport-utilities right now.
by Michael Strong on Apr.05, 2019
Looking for a good deal this month: The 2019 Jaguar I-Pace tops the list.
U.S. new car sales fell 5% in March, following the trend for the rest of the first quarter, in part due to rising interest rates on loans paired with falling incentives. In short, buyers can’t find a good deal on a new car, truck or sport-utility.
Fortunately, U.S. News & World Report offers up its monthly “best deals” list, and despite the less-than-ideal conditions buyers are currently dealing with, there are some good deals to be found in April, the editors note.
The Last Word!
“There are some mixed conditions out there for car shoppers,” said Jamie Page Deaton, executive editor of U.S. News Best Cars. (more…)
Tags: TheDetroitBureau.com., auto news, best new car deals, deals on new vehicles, good deals on new cars, michael strong, new car sales, new vehicle sales, thedetroitbureau
Posted in Automakers, Automobiles, Business, Coupes, Crossovers/CUVs, Financing, Leasing, Markets, Monthly Results, Pickups, SUVs, Sales, Sales, Sedans, Trends, U.S./North America | 1 Comment »
J.D. Power, LMC Automotive say bad weather, lower refunds are culprits.
by Michael Strong on Mar.26, 2019
U.S. new vehicle sales are expected to fall 2.1% in March compared with the year-ago period.
U.S. auto sales were predicted to fall this year, and due to bad weather, lower-than-expected tax refunds and some mixed economic inputs, March auto sales are expected to help ensure that prophesy comes true.
New vehicle sales will drop 2.1% this month compared with year-ago results, according to industry consultants J.D. Power and LMC Automotive. The pair are forecasting total U.S. vehicle sales of about 1.56 million units in March.
Product News!
Retail sales are expected to hit 1,195,000 units, which is a 3.4% decline. First quarter sales this year will be at their lowest levels since 2013 at about 2.94 million vehicles, and a drop of 4.9% compared with the same period a year ago. (more…)
Tags: J.D. Power LMC Automotive predict March sales decline, March new vehicle sales, March sales to fall 2.1%, Q1 new car sales down 4.9%, TheDetroitBureau.com., U.S. Auto Sales, auto news, michael strong, new car sales in March, thedetroitbureau, used car sales rising, used car sales tracking record
Posted in Automakers, Automobiles, Business, Coupes, Crossovers/CUVs, Financing, Leasing, Markets, Minivans, Monthly Results, Pickups, SUVs, Sales, Sales, Sedans, Trends, U.S./North America | Comments Off
Former Evelozcity, wants to change the way cars are designed, built and marketed.
by Paul A. Eisenstein on Mar.26, 2019
Canoo's leadership team is looking to change the way electric vehicles are built and bought.
In a market crowded with wannabe battery-car manufacturers, Los Angeles-based Canoo hopes to create a niche for itself with what’s its describing as a vehicle using “minimalist design that maximizes interior space.”
“Boutique” start-up Canoo is trying to to pitch itself as the alternative to conventional automotive manufacturers, as well as some of its new EV competitors, among other things by “Liberating you from the tyranny of auto ownership.” That translates into offering its planned products only through a subscription service.
Electrifying News!
Originally known as Evelozcity, Canoo has yet to show any of the vehicles it’s planning to bring to market, something that might raise questions about the start-up’s viability. But to gain at least a little credibility, the company has announced it is hiring three battery-car veterans from BMW and rival EV wannabe Faraday Future. (more…)
Tags: Canoo electric vehicle plans, Canoo subscription-based EV, EV maker Canoo, TheDetroitBureau.com., auto news, electric vehicle company using subscriptions only, new EV company, new subscription-only EV company, paul a. eisenstein, thedetroitbureau
Posted in Automakers, Automobiles, Business, EVs, Electrified Vehicles, Executives, Financials, Financing, Funding, Investors, Leasing, Markets, Personalities, Sales, Sales, Technology, Trends, U.S./North America | 1 Comment »
Higher prices on new vehicles, large number of off-lease cars spur move.
by Michael Strong on Mar.22, 2019
Used vehicle sales are on the rise and appear likely to set a new record again in 2019.
New car sales are on a very slow decline in the U.S., part of that decline is the appeal of used vehicles which are expected to hit a record of more than 41 million units in 2019, after setting a new record last year of 40.2 million.
What’s driving trend? Increased prices on new cars is making them less appealing, plus the interest rate hikes are pushing folks out of the new car market. However, they can certainly afford a used vehicle that comes with a much lower price tag that offsets the higher interest rates charged for used over new cars.
Business News!
On top of all that, according to Edmunds.com analysts, the industry is expecting a record number of lease returns this year will give shoppers more options than ever in the used market. (more…)
Tags: TheDetroitBureau.com., auto news, high-priced new cars spur used car sales, interest rates help used cars, michael strong, new car sales slide, thedetroitbureau, u.s. car sales, used car prices, used car sales expected to hit record, used car sales record
Posted in Automakers, Automobiles, Business, Coupes, Crossovers/CUVs, Financing, Leasing, Markets, Minivans, Muscle Cars, Pickups, SUVs, Sales, Sales, Sedans, Sports Cars, Trends, U.S./North America | 1 Comment »
Industry to see run on new leases in next few months.
by Joseph Szczesny on Mar.07, 2019
Winter weather and rising prices kept sales down in February, surprising some analysts.
After of drop sales in February of 2.8%, the auto industry is facing unsettled times during the next few months, analysts predict.
“February had a lot of good economic news to support a healthy vehicle market outlook, but that may not be coming to pass. The stock market has had a tremendous ride since the start of the year and consumer confidence, which took a tumble in January, has regained much of its decline,” observed Charlie Chesbrough, Cox Automotive senior economist.
News You Can Trust!
“With January’s government shutdown and record-breaking sub-zero temperatures in the rearview mirror, we expected a general upward lift in February,” he said. (more…)
Tags: February auto sales down, February sales drop 2.8%, TheDetroitBureau.com., U.S. auto sales February, analysts confused by sales drop, auto leases coming due, auto leasing problems, auto news, joseph szczesny, leasing news, new car sales lagging, thedetroitbureau
Posted in Automakers, Automobiles, Business, Executives, Leasing, Markets, Monthly Results, Personalities, Sales, Sales, Sedans, Trends, U.S./North America | Comments Off
What's coming later today? Nobody really knows.
by Michael Strong on Feb.28, 2019
Tesla CEO Elon Musk plans to reveal something new at 2 p.m. Pacific Time today.
Elon Musk is creating more news. Fortunately, this time it won’t – or shouldn’t – involve the U.S. justice system.
Musk changed his name on Twitter to Elon Tusk and announced the company would be making an announcement at 2 p.m. Pacific Time today. He didn’t provide any other details, and has since changed his name back to Elon Musk.
News Now!
Naturally this sent followers, analysts and industry observers a buzz with anticipation. One analyst, Adam Jonas of Morgan Stanley decided to take a stab at what he thinks is coming later today on the webcast. (more…)
Tags: Musk ready to make announcement, Musk's big Tesla announcement, Tesla announcement, Tesla paying off $920M bond, Tesla plans, Tesla's Elon Musk, TheDetroitBureau.com., auto news, elon musk, michael strong, tesla model y, tesla news, thedetroitbureau
Posted in Asia Pacific, Automakers, Automobiles, Business, China, EVs, Electrified Vehicles, Europe, Executives, Leasing, Luxury Vehicles, Markets, Monthly Results, NAFTA, Personalities, SUVs, Sales, South America, Technology, Tesla, U.S./North America | Comments Off
EV Maker's general counsel departs.
by Michael Strong on Feb.20, 2019
Tesla is readying to offer leases on its new Model 3 to employees to help boost demand for the sedan.
Tesla Inc. is readying for the next step in the evolution of its Model 3: leasing.
According to Electrek, the Palo Alto, California-based EV maker is looking to boost demand for the new mainstream sedan by offering employees a leasing program for the vehicle. Initial reports suggested the program would be in place in as little as two weeks.
Electrifying News!
The leasing availability was outlined in an email to employees. However, the company denied it will be ready that quickly, although did confirm it was coming. (more…)
Tags: Model 3 employee leases, Tesla Model 3 demand, Tesla Model 3 leasing, Tesla emails employees about leasing, Tesla vehicle leasing, TheDetroitBureau.com., auto news, michael strong, tesla news, thedetroitbureau
Posted in Automakers, Automobiles, Business, EVs, Electrified Vehicles, Executives, Financials, Leasing, Markets, Personalities, Sales, Sales, Sedans, Technology, Tesla, U.S./North America | 2 Comments »
Young buyers finding it tough to make car and student loan payments.
by Joseph Szczesny 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.
Business News!
“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…)
Tags: Federal Reserve warns about auto loan delinquencies, TheDetroitBureau.com., auto loan news, auto news, automotive loans, car loan delinquency, joseph szczesny, loan delinquency rising, thedetroitbureau, three months behind on car payments, young buyers behind on car payments
Posted in Automakers, Business, Executives, Financing, Leasing, Markets, Personalities, Politicians, Sales, Sales, Trends, U.S./North America | 1 Comment »
Edmunds predicts rates will continue upward.
by Michael Strong on Jan.03, 2019
Rising interest rates and falling incentives are expected to combine to drive down new vehicle sales in 2019.
The Federal Reserve raised interest rates throughout 2018 and, as observers expect to confirm today, new vehicle sales rose year-over-year. However, experts predict that will be a one-time occurrence.
There was a dip in automotive interest rates at the end of the year to help with holiday sales. New vehicle rates averaged 5.9% in December, according to Edmunds.com, after averaging 6% in November, which helped drive a strong end to the year.
Business News!
However, that average was largely driven by banks and other lenders rewarding buyers with excellent credit special low-interest loans rather than an overall shift downward. (more…)
Tags: Edmunds interest rates, Edmunds.com predicts higher rates, TheDetroitBureau.com., auto financing, auto loan interest rates, auto news, auto sales, car sales, michael strong, new vehicle sales 2019, rising auto interest rates, thedetroitbureau
Posted in Automakers, Automobiles, Business, Financing, Leasing, Markets, Sales, Sales, Trends, U.S./North America | Comments Off
Company as Oracle founder Ellison to board of directors.
by Michael Strong on Dec.28, 2018
Tesla Inc. established a leasing operation in China: another step toward growing sales in China.
Tesla Inc. is growing internationally while simultaneously resolving its battle with federal regulators in the United States.
The California-based electric-vehicle maker registered a wholly owned financial leasing company in China, with registered capital of $30 million, according to China’s National Enterprise Information Publicity System.
News Now!
The move to open a leasing operation in China falls in line with its plans to begin selling and building its cars in China. The company is seeking contractors to build its $2 billion gigafactory near Shanghai. The company has been moving quickly to establish a hold in China since the government eased local ownership laws for foreign EV makers. (more…)
Tags: Tesla China operations, Tesla SEC deal, Tesla adds Ellison to board, Tesla adds two independent directors, Tesla business in China, Tesla sets up leasing company in China, TheDetroitBureau.com., auto news, michael strong, tesla news, thedetroitbureau
Posted in Asia Pacific, Automakers, Automobiles, Business, China, EVs, Executives, Leasing, Markets, Personalities, Sales, Sales, Tesla, U.S./North America | Comments Off
