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Posts Tagged ‘auto sales news’

Auto Sales Falter in February

Audi, Toyota and VW provide bright spots for dreary month.

by on Mar.01, 2018

Volkswagen enjoyed a 6% sales jump in last month while most other makers struggled.

New vehicle sales stalled in February as General Motors, Ford Motor Co., Fiat Chrysler Automobiles N.V. and Nissan all reported sales declines, but Toyota and Volkswagen managed to post increases taking some of the sting out of figures.

Volkswagen said its sales increased by 6% while Toyota posted an increase of 4.5%. “We’re off to an outstanding start for the year,” said Jack Hollis, the head of the Toyota Division sales. Not surprisingly, Audi also continued its run of positive months with a 12% February jump.

News Now!

“Market softness spread beyond cars in February to other segments of the market,” said Michelle Krebs, executive analyst, (more…)

New Vehicle Sales Expected to Drop in February

Only Toyota, VW and Audi expected to see small increases.

by on Feb.23, 2018

Sluggish sales in the U.S. are expected to continue into February.

Carmakers are quick to point out that one month of sales figures don’t represent a trend, but analysts are now predicting that new vehicle sales are poised to slide again in February, following the drop in January.

Edmunds, a leading car shopping and information platform, is predicting 1.27 million new cars and trucks will be sold in the U.S. this month for an estimated seasonally adjusted annual rate or SAAR of 16.8 million.

Sales News!

The figures reflects a 10.8% increase in sales compared with last month, but a 4.1% decrease from February 2017, Edmunds said. (more…)

VW Topples Toyota, Likely Led Global Sales Chart for 2017

But Volkswagen’s top U.S. sales exec resigns over weak N.A. performance.

by on Jan.08, 2018

Volkswagen captured the top global sales slot by replacing its lost diesel sales with new SUVs.

Volkswagen appears to have narrowly retained its sales crown for 2017, fending off assaults by both Toyota and the Renault-Nissan Alliance, based on preliminary sales numbers.

The German automaker sold 10.7 million vehicles worldwide, according to in-house estimates, ahead of Toyota’s 10.35 million. If the VW numbers hold up when a final tally is reported it would mark the second year in a row that it nudged past its Japanese rival. But the Renault-Nissan Alliance also closed the gap last year and could be poised to challenge both VW and Toyota in 2018.

Global Auto News!

Despite VW’s strong global performance, a senior U.S. sales executive has tendered his resignation due to weak demand in that critical market last month. (more…)

US Auto Sales Remain Flat in May

Crossovers and small utes still leading the pack.

by on Jun.01, 2017

Ford Sales VP Mark LaNeve said the company's May sales were up on the strength of its SUVs and trucks.

Strong sales of crossover and sport utility vehicles and trucks, kept the industry anchored during May as overall sales stayed flat with General Motors, Fiat Chrysler Automobiles N.V. and Toyota posting small declines and Ford, Nissan and Volkswagen/Audi posting modest gains.

GM’s May total sales were 237,364 vehicles, which is down 1% from last year, largely due to a 36% drop in fleet sales. However, the company’s U.S. retail sales of 191,388 vehicles, up slightly from last year. GM’s May retail performance was driven by exceptionally strong crossover sales at Chevrolet, Buick, GMC and Cadillac.

Sales News!

“As we see the industry shift to more crossovers, we are extremely well positioned to take full advantage of this dynamic,” said Kurt McNeil, GM’s U.S. vice president of Sales Operations. (more…)

New Vehicle Sales Expected to Slide in April

Sales roller coaster continues to provide chills and thrills.

by on Apr.26, 2017

New vehicle sales are expected to drop at least 2% in April, according to several analysts.

Sales of new vehicles are expected to drop in April by between 2% and 3% year-over-year despite steadily rising incentives, according to estimates by Kelly Blue Book and J.D. Power, fueling concerns that the industry is facing a broad decline in 2017.

“After a weaker-than-expected March, it’s becoming more likely that 2017 will be the first down year for the industry since 2009,” said Tim Fleming, analyst for Kelley Blue Book. “Kelley Blue Book expects April to continue this downward trend, however, the SAAR should bounce back to approximately 17.1 million as a result of one less selling day.

Financial News!

“Beyond April, we will continue to closely monitor still high levels of inventory and elevated incentive spending by manufacturers, both of which are signs of overproduction following last year’s sales peak,” he added in his new analysis of industry sales trends. (more…)

Auto Sales Roller Coaster Continues for US in March

Rising inventories plaguing some automakers.

by on Apr.03, 2017

General Motors posted a sales increase in March, led by a 26% jump in Chevy Equinox sales.

With the industry in the midst of the critical spring selling season, U.S. auto sales slowed more than expected during March. Ford, Fiat Chrysler Automobiles and Toyota all reported drops in demand, but General Motors, Nissan and Volkswagen-Audi posted modest increases for the month. Other makers see similar problems looming on the horizon. And with sales expected to continue slowing in the months ahead, that poses some potentially significant problems for the Trump Administration.

GM’s March numbers highlight the challenges the industry – and, potentially, the White House – is facing. While the maker’s sales were up for March, that was offset by a sharp rise in its inventory of unsold vehicle, which climbed to 98 days by the end of the month, about 50% above what is considered the industry norm.

News Now!

The largest domestics automaker is highly likely to increase use of incentives to move that inventory, according to industry analysts. However, it’s not a single prong approach: GM is also ordering temporary shutdowns at several plants. And others makers may be forced to take similar steps. This flies in the face of Trump’s ongoing push to expand auto production in the U.S., and potentially undercuts his credibility as a job producer. (more…)

Global Auto Sales to Grow This Year, IHS Predicts

Despite uncertainty of China, sales expected to rise.

by on Feb.23, 2017

While sales in North America may fall, IHS Markit expects global auto sales to rise in 2017.

Even with sales dropping in North America and uncertainty over the outlook in China, total global light vehicle sales will increase by 1.5%, according to a new report from IHS Markit.

However, industry risk in mature markets is at the highest level it has been since the Lehman Brothers collapse and global industry downturn from 2008 through 2010, and will be a key factor for the near future, the IHS forecast said. Total 2017 global light vehicle sales should increase to 93.5 million units, IHS Market said.

Global Auto News!

“Political uncertainty could cause a significant rift in light vehicle sales both in the U.S. and Europe, as both regions are undergoing fluctuations in policy, leadership and other dynamics,” said Henner Lehne, senior director, global vehicle group for IHS Markit. (more…)

Leasing Levels Hit New High-Water Mark in 2016

Some analysts believe leasing will level off in 2017.

by on Jan.30, 2017

Large SUVs are gaining in popularity and one of the ways they become more "affordable" is to lease them.

It was a record sales year for U.S. automakers last year, a new high-water mark reached, in some measure because automotive lease volumes also hit a new benchmark of 4.3 million vehicles, according to a new study, which translates to more than 30% of all new vehicle sales.

Edmunds latest Lease Market Report noted that leasing accounted for 31% of all new vehicle sales in 2016, which is up from 29% in 2015 — the previous high. Overall, leasing has been on the rise for some time now – growing 91% in the last five years – as buyers look to get more bang for their buck.

By the Numbers!

That’s never been more true when it comes to a public hungry for all of the new sport-utilities, trucks and crossovers it can get its hands on. However, these vehicles often come with a heftier price tag than smaller sedans and coupe. (more…)

Toyota Cedes Global Sales Crown to VW

VW sold 10.31 mil vehicles in 2016, a 3.8% gain.

by on Jan.30, 2017

Despite the sales hit it took due to the diesel scandal, Volkswagen overtook Toyota for the global sales crown.

It’s official: Volkswagen Group became the world’s best-selling automaker in 2016, toppling king-of-the-hill Toyota by more than 150,000 vehicles worldwide.

If anything, analysts suggested, the German maker’s lead would have been even larger were it not for VW ongoing diesel emissions scandal. Demand in the key U.S. market took a double-digit dip last year, but the “people’s car” company still managed to deliver a 3.8% global increase, buyers around the world taking delivery of 10.31 million products sold under a range of marques, from entry-level Seat to ultra-luxurious Bentley, as well as the flagship Volkswagen brand.

Global Auto News!

By comparison, Toyota delivered 10.18 million vehicles last year, a more modest 0.2% year-over-year increase. The Japanese giant had snatched the sales crown from long-time leader General Motors in 2009, ceding the title only once during the past eight years. (more…)

Record December Sets New US Auto Sales Annual Benchmark

GM, Ford enjoy strong 2016 while FCA struggles.

by on Jan.04, 2017

Ford's F-Series truck was the best-selling vehicle in the U.S. in 2016 – the 35th year in a row.

Rising consumer confidence, coupled with an increase in promotions and incentives, helped the U.S. auto industry set a new sales record in December and post record sales for the second consecutive year.

General Motors, with a 10% increase, Ford, Toyota, Nissan and Volkswagen all reported increased sales for December while Fiat Chrysler Automobiles N.V. reported a 10% sales decline as it continued to trim sales to fleet customers.

Sales News!

“We finished 2016 with a strong December, reflecting the continued strength of GM’s U.S. retail and commercial businesses,” said Kurt McNeil, GM’s vice president of U.S. Sales Operations. “We begin 2017 well positioned to continue growing our U.S. retail business, driven by all-new products like the Chevrolet Equinox and Traverse being launched into key, growing U.S. market segments.”  (more…)