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Posts Tagged ‘auto sales news’

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…)

October US Auto Sales Hit the Skids

Ford delays sales report due to fire at headquarters.

by on Nov.01, 2016

Jeep sales had been reliably strong for FCA during the past few years; however, they fell 7% in October.

The tempo of new vehicle sales slowed during October as every major automaker reported a drop during October.

Ford Motor Co., which also was expected to report a drop in sales, delayed the release of its October sales due to a fire in an electrical substation in the company’s headquarters in Dearborn, Michigan. The fire, which happened yesterday, caused the evacuation and closure of the building.

Sales News!

The big surprise was a 10% drop in sales by FCA, which had posted a long string of sales increases, stretching back more than five years until it had to re-state its sales figures this summer under pressure from lawsuits by dealers and Securities and Exchange Commission. (more…)

Sign of the Times: New CR-V Set to Replace Civic, Accord as Honda’s Best Seller

Honda isn’t alone. Toyota’s RAV4 also on track to lead.

by on Oct.13, 2016

Honda officials expect the new CR-V to overtake its perennial best-selling vehicles, the Civic and Accord, in the near future.

They’ve long dominated the sales charts, but the Honda Civic and Accord models may soon get brushed aside – by another Honda model, it seems, as the Japanese automaker expects to see the fifth-generation remake of the CR-V crossover-utility vehicle become its top volume model.

That shouldn’t really be much of a surprise, however, considering current industry trends. Light trucks, in general, now account for about 60% of the U.S. new car market, and while pickup sales are flattening out, CUVs and more traditional sport-utility vehicles “are really hot,” said American Honda Motor Co.’s top U.S. executive, John Mendel.

Your Auto Insider!

Even as it comes to the end of its life, the outgoing, fourth-generation Honda CR-V is accounting for about a quarter of the brand’s total U.S. sales and is “now virtually on par with Civic and Accord,” and likely to build momentum with the launch of the new model for 2017. (more…)

Carmakers Face Tough Test as Market Flattens

Sales expected to fall just short of last year's record.

by on Oct.13, 2016

Honda's John Mendel says there is a chance that automakers will beat last year's record sales.

Manufacturers are eager to roll out new models this fall and even adding more capacity in an effort to gain an edge over rivals.

But they are also facing a highly competitive market where manufacturers are being tempted to raise incentives to protect market share, noted Stephanie Brinley, an analyst with IHS Automotive.

Sales News!

“The market is going to get more competitive and we will see if (companies) fall back into their old practices,” she added. “The easy growth is gone.” (more…)

New Vehicle Sales Remain Flat in September

Utility vehicles and trucks still leading the way.

by on Oct.03, 2016

Not even the F-Series could save Ford's sales in September: the trucks were down 3% while Ford was down 7.7%.

Sales of new vehicles remained flat during September as domestic manufacturers, General Motors Co., Ford Motor Co. and Fiat Chrysler Automobiles N.V., reported sales decreases as Japanese rivals posted modest increases for the month.

Ford was one of the biggest losers reporting an 7.7% drop in sales. Even sales of the F-Series pickup trucks fell.

Sales News!

“We continue seeing strong customer demand, especially for vans and pickup trucks, including our all-new Super Duty,” said Mark LaNeve, Ford vice president, U.S. Marketing, Sales and Service.  (more…)

Buyers Take a Breather as August Auto Sales Slump

Makers hoping for strong September to regain momentum.

by on Sep.01, 2016

New vehicles sales hit the brakes in August as buyers appeared to take a break from the market.

Sales of new vehicles stumbled in August and as a result General Motors, Ford, Nissan and Toyota all reported significant drops sales year over year but transaction prices continued to increase right along with incentives, analysts said.

But Fiat Chrysler Automobiles N.V., which has come under for its reporting methods, said its sales increased 3% last month thanks to a strong showing by the Jeep brand, which continues to win new customers with its sport utility vehicles.

The Journal of Record!

Audi also posted a 2.5% sales increase, but Volkswagen, which has been in year-long sales slump, said its sales dropped 9%. (more…)

Feds Probing Fraud at Fiat Chrysler

Prosecutors look to see if maker inflated sales numbers.

by on Jul.18, 2016

Federal regulators are investigating claims by two dealers that FCA may have rigged sales numbers.

With its numbers up 7% in June, Fiat Chrysler Automobiles said it had its best June sales in 11 years, the figures stretching to 75 consecutive months FCA’s streak of year-over-year sales gains. Or did they?

The trans-Atlantic automaker has confirmed it is “cooperating with an SEC investigation” looking at whether it has inflated those sales figures – an allegation first raised by two FCA dealers who filed a civil racketeering lawsuit against the automaker early this year.

News Now!

The maker denied the initial charges, and on Monday issued a statement saying it intends to “cooperate fully with these investigations (which focus on) “the reporting of vehicle unit sales to end customers in the U.S.” (more…)