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Black Friday Boosting November Auto Sales

Dealers taking advantage of kickoff to holiday shopping.

by on Nov.26, 2014

Black Friday isn't just the about getting a deal on electronics. Automakers are using the day to kick off their holiday sales programs.

It’s not just too-good-to-be-true deals on computers, high-definition televisions and portable DVD players drawing people out on Black Friday, many shoppers salivating at the prospect of a great price on a new car will fill auto dealerships across the country boosting November auto sales.

Kelley Blue Book estimates November sales, aided by a strong weekend finish to the month, could climb 2.2% year-over-year to a total of 1.27 million units.

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“Car sales will remain elevated in November in large part because of Black Friday,” said Edmunds Senior Analyst Jessica Caldwell. “In recent years both car shoppers and car dealers have turned toward Black Friday as an opportunity to dive into the holiday shopping season. This is a good example of how the auto industry continues to evolve to become more like the rest of the retail market.” (more…)

Hyundai – Kia Sales to Hit Record 8 Million

But profits under pressure.

by on Nov.25, 2014

A fuel-cell version of the popular Hyundai Tucson went on sale in the U.S. market last summer.

Hyundai Motor Co. and its sibling Kia Motors Corp. are collectively heading for an all-time sales record of 8 million this year.

On the downside, Hyundai is facing serious pressure on earnings as the Korean won gains strength. That creates a disadvantage when compared to Japanese rivals who have watched earnings soar on the weak yen.

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“The market still does not look rosy,” Chung Mong Koo, who serves as chairman of both Hyundai and Kia, said in the statement. “Let’s overcome the unfavorable market situation and show our automobile industry’s competence.”

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GM Sets New October Sales Record in China

Lincoln expanding footprint there as economy begins to cool.

by on Nov.10, 2014

General Motors hit an October sales record of 291,371 vehicles in China.

General Motors routinely sell more cars in China than it does in the United States and October was no exception as GM and its joint ventures delivered 291,371 vehicles to customers in China last month, setting a new October record.

By comparison, GM sold 226,000 vehicles in the U.S. in October.

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GM also got some new competition in China as the Ford Motor Co.’s Lincoln division also has begun its push into the Chinese market. Lincoln opened its first three stores in Beijing, Shanghai and Hangzhou. (more…)

Certified Pre-Owned Vehicle Sales Hit a Record

Sales have quadrupled since 2000, according to new study.

by on Nov.07, 2014

BMW, like other automakers, are catering to buyers wanting certified pre-owned vehicles.

Buying a used car has traditionally been a crapshoot, with a very uncertain outcome and little recourse if you pick the wrong vehicle. But the industry has tried to improve your odds – while earning a bit more money – with the introduction of certified pre-owned vehicle programs that have clearly clicked with consumers.

At the beginning of the new millennium, about 500,000 American motorists were buying certified used vehicles. That jumped to 2.1 million last year, and should hit another record for 2014, according to a study by auto sales site AutoTrader.com.

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“Over the next few years, more than 9 million certifiable vehicles will be hitting the market, making now the time for consumers, manufacturers and dealers to pay close attention to the CPO landscape,” said Rick Wainschel, vice president of customer insights at AutoTrader.com. (more…)

New Vehicle Buyers Gobble up Trucks, SUVs, Luxury Cars

Lower gas prices contribute to strong sales.

by on Nov.03, 2014

Audi was among many automakers that reported October sales increases.

The sales numbers from October have given carmakers a renewed sense of confidence that sales will remain strong in the months to come as consumers continue to buy more trucks, utilities and luxury vehicles.

A long string of carmakers reported increased sales during October among them Subaru, Chrysler Group, Audi, Nissan, Mercedes-Benz, BMW, Toyota, Acura, Honda, Hyundai, Volkswagen, Kia and GM all reported sales increases for last month.

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“October vehicle sales were the best for the month in 10 years as an improving economy and lower gas prices drove strong SUV sales,” noted Bill Fay, Toyota division group vice president and general manager, who has said that the sale outlook for 2015 is also looks positive. (more…)

Low Gas Prices Keep Sales Going in October

Trucks and fuel-efficient vehicles rolling off dealer lots.

by on Nov.03, 2014

Jeep sales were up 52% on a year-over-year basis in October. Chrysler Group sales were up for the 55th consecutive month.

New car sales, aided by falling gasoline sales and the popularity of trucks, remained robust in October with preliminary results suggesting the seasonally adjusted annual rate of sales, or SAAR, hit 16.9 million units as Chrysler, Nissan, Honda, Volkswagen/Audi and General Motors all reported sales increases for the month.

Analysts are expecting the overall sales to jump 6% and the early returns suggest they’ll be correct in that there will be another increase in purchasing. Not only did trucks perform well, but smaller cars, such as the Chevy Cruze, Nissan Versa and others also saw impressive returns.

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Chrysler Group reported the biggest overall jump in sales of the early reporters with a 22% increase compared with sales in October 2013 of 170,480 units, the group’s best October sales since 2001 when carmakers utilized an extra heavy dose of incentives to boost sales following 9/11. (more…)

October Sales Expected to Defy Economic Uncertainty

Incentives rise, and pose risks, analyst warns.

by on Oct.29, 2014

The Jeep Cherokee is selling well and is responsible of much of Chrysler Group's stellar year.

Recent big swings in the stock market and dire headlines about an economic downturn haven’t put any kind of dent in U.S. auto sales, industry analysts are predicting demand for October will be up between 5.4 and 6.0% when sales numbers are totaled up next week.

Total demand, including retail and fleet sales, is expected to reach 1.27 million vehicles, according to various forecasts. On an annualized basis, known in industry terms as the SAAR, that would work out to 16.3 million vehicles, nearly a million about the rate for all of 2013.

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“The industry continues to demonstrate strong sales growth and robust transaction prices, resulting in another record-breaking month for industry consumer spending,” said John Humphrey, senior vice president of the global automotive practice at J.D. Power and Associates. (more…)

Volkswagen Adds to Sales Lead Over GM in China

by on Oct.13, 2014

GM's sales in China, in which Cadillac is critical, are up 11.6%, but still trail Volkswagen's results.

The automotive sales race in China is a neck-and-neck affair, but the Volkswagen Group continues to hold a lead of about 140,000 units over rival General Motors. Other makers that were expecting to see strong results there – namely Ford and Nissan – have fallen off the pace a bit in recent months.

Volkswagen reported its sales have increased 15% to 2.72 million units through Sept. 30, making China the company’s single largest global market. Sales were strong during September when the German maker delivered 2.72 million units in China, marking a 15.2% increase.

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GM and its Chinese joint ventures reported a 15.2% increase in September as well. For the first nine months, GM’s sales totaled 2.58 million vehicles, up 11.6% from the same period a year earlier. (more…)

Trucks, Crossovers, Luxury Cars Lead Strong Sales

Ford sees sales drop due to decision to cut fleet sales.

by on Oct.01, 2014

Honda's CR-V helped the Japanese maker to a double-digit sales jump in September.

Strong sales of luxury vehicles, trucks and crossovers continued to pace the auto industry’s performance during September with several carmakers, including Acura, Audi, Chrysler, General Motors, Honda, Nissan, Mercedes-Benz and Subaru all reporting double-digit increases as the seasonally adjusted annual rate of sales exceeded 16.4 million units.

Larry Dominque, True Car executive vice president, said what was particularly impressive was that the industry managed to continued to grow in September without increasing incentives.

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“The daily sales rate is up about 5%,” Dominque noted, “while the ratio of incentives to transaction prices has remained very stable indicating the market is basically healthy.” (more…)

GM Enjoys Double-Digit Sales Increase in September

Ford takes hit in transition to aluminum F-150 truck.

by on Oct.01, 2014

Sales of the 2015 Chevrolet Suburban were up 50% in September, helping the maker to a 19% overall increase, including 17% at the retail level.

General Motors, Nissan and Audi all reported major sales gains during September as sales of new vehicles remained strong. However, with its stock price under pressure, Ford Motor Co. reported that its sales – and marketshare – continued to shrink during the past month.

Reid Bigland, head of U.S. Sales, said Chrysler, Jeep, Ram Truck and Fiat brands each posted year-over-year sales gains in September as Chrysler Group’s overall sales increased by 19%.

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Jeep’s 47% increase was the largest sales gain of any Chrysler Group brand and its best-ever sales in the month of September. Chrysler Group extended its streak of year-over-year sales gains to 54 consecutive months. (more…)