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Auto Market Peaking at Challenging Time for Nation

GM slashing 2,000 job at two Midwest plants.

by on Nov.09, 2016

Automakers are amending their sales forecasts for 2016 and beyond as buyers do not appear to be as excited as previously believed.

With U.S. auto sales tumbling after three record years, General Motors will lay off 2,000 hourly employees at two assembly plants, one in Michigan, the other in Ohio, early next year. That follows a series of temporary plant closings by GM and rival Ford Motor Co.

The domestic new vehicle market slid about 8% in October, the latest in a series of downturns that both Toyota and Nissan this past week cited as major contributors to sharp declines in quarterly operating income.

Sales News!

Despite slumping demand, mounting inventories and a surge in costly incentives the U.S. market is still expected to hit an all-time record of somewhere in the mid-17 million range for all of 2016. But what might follow, if there isn’t a market rebound  could pose an immediate challenge for Donald Trump, especially if turmoil following the divisive presidential campaign leads to a broader economic downturn. (more…)

New Car Sales Expected to Remain Steady in August

Fiat Chrysler's sales streak may come to an end.

by on Aug.27, 2015

Some observers are predicting FCA's five-year streak of month-over-month sales increases may come to an end in August.

August auto sales may be mirroring the many of the world’s economies these days: uncertain. Predictions about the final tally run from sales being down to sales being up. Much like investors wondering what to do in the tumultuous stock markets these days, the answer depends upon who you ask.

Kelly Blue Book expects sales to decline 4% year-over-year due to the exclusion of Labor Day weekend in this month’s sales results. If true, the slide could put Fiat Chrysler’s long string of monthly sales increases, which has extended for more than five years, at risk, according to KBB.

What a Concept!

On the other hand, TrueCar, the car buying service, suggests sales could wind up rising by 4% and FCA U.S.’s impressive streak of increases is safe. (more…)

Analysts: Expect Moderate Auto Sales Growth

Economic woes continue to keep shoppers from buying new cars.

by on Mar.30, 2011

CAR's Sean McAlinden, left, and Canadian auto analyst Dennis DesRosiers answer questions about the state of the U.S. auto industry.

While some still hold out for huge buildup in auto sales, a pair of analysts said they believe the recovery will be moderate and steady through most of the current decade.

Speaking at the Center for Automotive Research’s Road to Renewal II conference in Dearborn, Canadian auto analyst Dennis DesRosiers said many consumers remain skeptical about buying a new car as the economy continues to come back from the worst recession since the Great Depression of the 1930s.

“It’s hard to sign up for a new vehicle when you see the value of your house going down every year,” DesRosiers said.

Auto News When You Need It!

Sean McAlinden, CAR’s executive vice president of research and chief economist, agreed that sales growth will be moderate. He projected 13.4 million vehicle sales in 2011, rising to 14.4 million in 2013 and 14.9 million in 2014. Then again, DesRosiers said he made his projections before the current crisis in Japan where the recent earthquake and tsunami threaten to stop production at auto plants all around the world.

(more…)