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Automakers Poised to Enjoy Big Year in 2015

Sluggish start being offset by confident consumers.

by on Mar.31, 2015

The Ford F-150 assembly should continue humming along in 2015, according to analysts.

With the big New York Auto Show set to open this week, carmakers have every reason to be optimistic about their prospects for the month ahead based on preliminary data.

The economy remains on track to grow 3% this year, up from 2.4% in 2014, according to a new analysis by IHS Global Insight. At the same time, Consumer Sentiments as measured by the University of Michigan monthly survey of consumers.

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Motor vehicle sales are expected to have picked back up to a 17-million annualized pace in March as the weather improved, IHS noted. (more…)

February Auto Sales Rise Despite Weather, Dockworkers

New car purchases hit best February since 2002.

by on Feb.24, 2015

Auto sales remained strong in February despite a cold snap covering much of the nation.

Faced with bitter cold weather that has cut into new cars sales in New England and put key automotive hubs in the Southeast, such as Atlanta and Charlotte, into the deep freeze, car sales appear to have held their own during February, analysts said.

“The industry had a great start to 2015 in January, and that sales momentum continues in February with exceptional growth in retail sales,” said John Humphrey, senior vice president of the global automotive practice at J.D. Power.

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Humphrey noted that automakers continue to take advantage of strong residual values to provide attractive lease deals for consumers. Lease penetration through the first 11 selling days in February is 27.4% of retail, its highest level ever and the amount of capital sunk in automotive financing has now reached record levels, according to a new study released last week. (more…)