Detroit Bureau on Twitter

Archive for the ‘Monthly Results’ Category

Aston Martin Sketches Out its Future With Supercar Design Tease, IPO Plans

British marque hopes to repeat Ferrari’s success.

by on Sep.21, 2018

Aston has released a preliminary sketch of its third hypercar, the 003, which it hopes to have in production in 2021.

Aston Martin, the carmaker best known for its relationship with cinema spy 007, has laid out key details of its upcoming IPO while also releasing a preliminary sketch of the hypercar it’s calling 003 that it hopes will drive some of its future success.

Spun off by Ford Motor Co. in 2007, Aston struggled to avoid an eighth bankruptcy during the depths of the Great Recession, but its fortunes have skyrocketed over the last few years, a period coinciding with the arrival of CEO Andy Palmer and the subsequent commitment of hundreds of millions of dollars in new capital from its key investors.

The Last Word!

The IPO will go off next month on the London Stock Exchange, Palmer announced, declaring that it “will provide investors with a fitting opportunity to participate in our future success.”

(more…)

Subaru Ascending Toward Another Annual Sales Record

New three-row ute pushing company toward another benchmark.

by on Sep.21, 2018

Subaru is set to set a seventh consecutive annual sales record due to the new Ascent.

Subaru is confident it can lock in its seventh consecutive year of sales gains thanks to promising launch of the Ascent, a three-row sport-utility vehicle that has emerged as the Japanese automaker’s flagship since its debut earlier this summer.

Dominic Infante, Subaru’s director of communication, noted during a presentation in North Carolina for the first drive of the 2019 Subaru Forester, which is due in showrooms that through August, Subaru has posted 81 consecutive months of sales gains.

News You Can Trust!

The Ascent has been a great success out of the gate, Infante noted. Subaru hasn’t been able to build them fast enough to satisfy demand. The Ascent is built at the Subaru assembly plant in Indiana and Infante said that Subaru has only 12 days of Ascent inventory in the hands of dealers. (more…)

Trucks, Sport-Utes Continue to Gain Market Share

Crossovers and utes remain atop customers' wishlists.

by on Sep.05, 2018

The Hyundai Kona is just one of the many utility vehicles gaining sales traction in the U.S. these days.

Trucks and utility vehicles continue to take an ever-increasing share of the new vehicles sales in the United States once again during August.

The changes rolled right across the industry changing the balance of sales by brands ranging from Mercedes-Benz to Hyundai. Mercedes, which made its reputation selling luxury sedans, doesn’t even have a pickup truck in its model line but utility vehicles now account for 50% of its sales in the U.S.

News You Can Trust!

Over the years, Hyundai has built its sales on selling efficient, competitively priced passenger cars. However, this year’s, Hyundai, which doesn’t sell any kind to truck in the U.S., has seen its sales of utility vehicles grow to account for 49% of its total sales in the U.S., according to Mike O’Brien, Hyundai vice president of product, corporate and digital planning. (more…)

August Auto Sales Turn in Better-Than-Expected Results

Positive economic news overwhelms sales deterrents.

by on Sep.04, 2018

Fiat Chrysler sales rose in August, including a 10% jump in Wranglers, and Ram set a new record.

Despite talk of sales slowing, Fiat Chrysler N.V., Nissan, Volkswagen and Audi all reported sales increases for August.

FCA reported sales of 193,718 vehicles, a 10% increase compared with sales in August 2017 of 176,033 units. Overall, FCA US retail sales rose 17% to 164,727 vehicles. Fleet sales, which the company is trying to cut down, accounted for 15% of total sales.

Subscribe Now!

Sales were led by both the Jeep and Ram brands. Ram posted two new records for the month. (more…)

New Vehicle Sales Expected to Rise Slightly in August

The rest of the year is expected to be tougher.

by on Aug.29, 2018

August new car sales are expected to increase slightly compared with year-ago figures.

New-vehicle sales in August are expected to increase slightly, according to a sales forecast from Cox Automotive.

Cox estimated the seasonally adjusted annual rate of 16.8 million units forecast for August is up incrementally from last month’s 16.7 million and up from the sales rate of 16.5 million in August 2017.

Sales News!

“The market remains strong and all the talk of higher interest rates and trade tariffs is not chasing away buyers,” noted Charlie Chesbrough, senior economist at Cox Automotive. (more…)

Musk Laments “Excruciating” Toll He’s Faced at Tesla

But no plans to give up post as CEO.

by on Aug.17, 2018

Tesla CEO Elon Musk revealed that he feels like this has been the toughest year of his life.

Forget the amusement park. Anyone who wants to ride a roller-coaster might be better off purchasing Tesla stock. But no one has faced more ups-and-downs during the last year than the automaker’s co-founder and CEO Elon Musk.

Even as Tesla appears to be resolving its production problems and seems poised to deliver a long-promised profit, the automaker and its CEO are facing a probe by the SEC, lawsuits filed by several short-sellers, additional investigations by the NLRB, NHTSA and the NTSB, and allegations of safety and quality problems by several self-styled whistleblowers.

Subscribe Now!

No wonder, “This past year has been the most difficult and painful year of my career,” Musk said in an interview newly published by the New York Times. “It was excruciating.” (more…)

Ford Wants a Premium for All-New Ranger Pickup

Base model to start at $4,000 over Chevrolet Colorado.

by on Aug.14, 2018

Ford will offer a wide range of Ranger body styles, beds and powertrain configurations.

After a lengthy absence, the Ford Ranger is about ready to return to the U.S. market and shoppers now can price and build their own version of the midsize pickup at a special micro-site the Detroit automaker has launched.

Set to reach showrooms early next year, Ford will be offering a wide array of body styles, bed and powertrain options, ranging from the base, 4×2 SuperCab XL with a six-foot box, up to the more lavishly equipped 4×4 SuperCrew Lariat with a five-foot cargo box.

Product News!

But the heavily updated version of the global Ranger launched earlier in the decade won’t come cheap. The 2019 pickup will carry a starting price of $24,300 plus $1,095 in delivery fees. That’s about $4,000 more than its cross-town competition, the base, extended cab version of the 2019 Chevrolet Colorado starting at $20,500. And for truck buyers on a tight budget, the aging Nissan Frontier starts at just $18,900.

(more…)

Toyota Motor Reports Increased Q1 Profits

Strong sales in U.S. and cost-cutting efforts pave way to profits.

by on Aug.03, 2018

Toyota's Masayoshi Shirayanagi noted that increased trade tensions and U.S. tariffs will eat into Toyota's bottom line.

Toyota Motor Corp. rode a wave of increased sales and decreased costs to a 7.2% increase in net income in its fiscal first quarter of 2018. Revenues also increased 4.5% during the quarter.

The company also announced it was ending its partnership with Isuzu Motor Ltd. The companies built diesel engines, but with oil burners falling out of favor, replaced by EVs and potentially fuel cells down the road, the two sides will split.

We Keep You In the Know!

Toyota owns a 5.89% stake in Isuzu. (more…)

European Automakers’ US Sales Fared Well in July

Mercedes-Benz still the luxury sales leader.

by on Aug.02, 2018

Mercedes-Benz saw sales fall more than 20% in July, but much of that was attributed to a computer problem during the company's busiest week.

With the threat of steep tariffs hanging over their heads, European carmakers enjoyed positive sales in July even though one of the leaders, Mercedes Benz, struggled a bit.

Mercedes-Benz USA reported July sales of 20,034, a decrease of 22.7% from July 2017 as archrival BMW sold more vehicles. Lexus appears to hold the lead in luxury segment with sales of 25,403 units, which dropped 12.1% on a volume basis.

Sales News!

Meanwhile, Mercedes-Benz Vans reported July sales increased 5.9%. On a year-to-date basis, sales of Mercedes-Benz vehicles totaled 178,882, giving it the lead in luxury vehicle sales for 2018. (more…)

Tesla Q2 Losses Double, But Profits Promised in Q3

Investors happy to see capex spend drop, stock jumps nearly 5%.

by on Aug.01, 2018

Tesla CEO delivered enough positives in the second quarter to excite investors. The company's stock rose 5% in after hours trading.

Tesla Inc.’s mad dash efforts to meet its ever-shifting production quotas didn’t result in a narrowing of financial losses for Q2, not that CEO Elon Musk implied that. However, the end result was a doubling of losses on a year-over-year basis.

In the second quarter of 2018, Tesla’s automotive business saw revenue rise to $3.1 billion compared with $2 billion for the same period last year; however, losses jumped to $717.5 million, or $4.22 a share, from $336.4 million, or $2.04 a share.

News Now!

However, the letter produced to explain the quarterly results suggests that only good times are on the horizon despite the company missing analyst expectations for losses this quarter. Ultimately, shareholders were pleased with the results as the stock jumped nearly 5% after hours on the news.  (more…)