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Posts Tagged ‘auto sales’

Global Auto Sales Expected to Set New Records

Small crossovers, utes expected to lead sales charge.

by on Jun.20, 2016

Small crossovers, like the Fiat 500X, will drive sales to new records globally, according to BMI Research.

Global autos sales are still expected to show a marked improvement in 2016 and the boom in auto sales should continue into 2017 as consumers globally continue to snap up small crossover vehicles, according to a new estimate from BMI Research.

Sales of new vehicles worldwide are growing 3.4% compared with 1.9% in 2015, BMI reported.

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For the most part, developed states are continuing to drive this growth, particularly in North America and Europe, according to the report. (more…)

Shoppers Could Be in For Bargains: Slow Sales Mean Rising Incentives

Chevy promotions aimed at regaining lost market share, building demand.

by on Jun.06, 2016

A sluggish May for automakers may have kickstarted a rush of incentives to keep the good times rolling.

Bad news for the auto industry could mean good news for U.S. car buyers.

With only a few exceptions, automakers took an unexpected tumble in May, and Chevrolet is rolling out big new incentives aimed at rebuilding momentum and regaining lost market share. Industry analysts are expecting to see even more givebacks as the industry fights to retain the record sales pace set early this year.

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The goal is to “get dealers and customers excited,” said General Motors spokesman Jim Cain. The new Chevy incentives will cover the big Silverado pickup, as well as most of the brand’s passenger cars. The announcement follows a weak May for GM that continued the steady decline in market share it has seen all year. (more…)

Luxury Car Sales Hit The Skids in 2016

Despite sluggishness, sport-ute sales jumping.

by on Jun.02, 2016

The Mercedes GLE saw sales rise in the U.S. in May. The German maker's sport-utes are showing sales increases in 2016.

Sport utilities and crossovers are still enjoying strong sales, however, the overall market took a hit in May, and luxury vehicles were smacked by the same problems as less expensive siblings: slow sales for sedans.

While the battle for luxury supremacy remains hot, it was especially challenging in May with two fewer selling days. Mercedes took the lightest hit of the top three luxury brands in the U.S. as sales fell just 1% in May, BMW was next down 6.4% for the month and Lexus was last at 10.1%.

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“Sales continue at a steady pace in the second-quarter,” said Dietmar Exler, president and CEO of MBUSA. “Excitement is building as we look toward the coming months with the launch of three new dream cars, including the S-Class Cabriolet, SL and SLC Roadsters and the all-new E-Class Sedan.” (more…)

Women Driving Growth in SUV Sales

Small utes beneficiary of latest trend, survey says.

by on Jun.01, 2016

Women are having a bigger impact on auto sales than ever, including the rise in SUV sales.

It’s pretty well known that women buy more than half the new vehicles sold in the U.S. every year and influence at least 80% of all vehicle purchases. So it should come as no shock that it’s women who are leading the uptick in sport-utility and crossover sales.

More specifically, it is single women who led the charge last year, which helped the industry achieve its new single-year sales record of 17.5 million units.

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In the last five years, small SUV sales to women rose 34%, compared to a 22% rise for men, according to MaritzCX, a customer-experience software and research company. (more…)

May Car Sales Moving Along at Brisk Pace

Analysts expecting year-over-year drop this month.

by on May.26, 2016

Analysts expect that Fiat Chrysler, led by Jeep sales, will be one of the few makers posting positive results for May.

Guessing when car sales will begin to slip after what has been described as the longest expansion in Auto Sales in the U.S, going all the way back to World War II is proving hard to pin down.

Edmunds.com expects new car sales in May will increase 2.3% from April 2016, but drop 5.8% compared to May 2015. The Seasonally Adjusted Annual Rate or SAAR will hold steady at 17.5 million.

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While sales appear to be slowing, 2016 is still on track to break last year’s record of 17.47 million new car sales, Edmunds noted in its latest forecast, which projects that 1,537,436 new cars and trucks will be sold in the U.S. in May. (more…)

New College Grads Looking for New Sets of Wheels – Used Wheels

Newly minted alumni expect to spend less than $15K.

by on May.25, 2016

The 2010 Toyota Prius was rated as one of the top choices for new college grads looking for a used car for less than $15,000.

As the calendar hits late May, many new college graduates will be looking forward to kicking off their careers by getting out of their old set of wheels and into another, better vehicle.

A recent survey shows that most college graduates plan to spend $15,000 or less for a vehicle and more likely than not, it’ll be used. In fact, of the 67% of those expecting to get a car, 57% plan to pay for the vehicle without any assistance from their parents.

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“We are pleasantly surprised to learn that today’s college students have relatively rational and moderate expectations toward the cars they’ll buy after graduating and how much they plan to spend,” said CarGurus Editor Steve Halloran. (more…)

Car Loans Top $1 Trillion for First Time Ever in Q1

Buyers out in force during first quarter of 2016.

by on May.23, 2016

Auto loans topped $1 trillion in the Q1 this year. It's the first time it's hit that mark in that period ever.

Experian, which tracks auto loans as well as consumer credit scores, reported the total amount of auto loans in the first quarter of 2016 exceeded $1 trillion for the first time ever.

In all, the total volume of auto loans, which includes leases, is up 10% from the same period a year ago, according to the latest data from Experian

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“We’re still seeing strong sales projections which will help fuel this growth,” said Melinda Zabritski, Experian senior director of automotive finance. (more…)

Mercedes Keeps Tops Spot in Luxury Car Sales Battle

Despite slow April, Lexus remains in second over BMW.

by on May.04, 2016

Mercedes continues to remain atop the luxury car sales standings in the U.S. for 2016.

Mercedes-Benz continues to set the pace for luxury car sales in the U.S. after it enjoyed a record-setting April while its primary competitor, BMW, took a substantial hit in what was a white-hot month for auto sales.

In fact, the hit was strong enough to allow Lexus to slide past BMW into second place in on the list by more than 3,500 vehicles year-to-date.

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Mercedes-Benz sold 29,236 vehicles in April, up 0.2% for the month, pushing its total for the year to 105,005 units. Overall, the brand is down for the year by 2.2% to 107,340 vehicles. Not surprisingly, the love of sport-utilities isn’t limited to non-luxury brands.  The GLA and GLC/GLK are up 15.9% and 76.9% respectively for the year. (more…)

US New Vehicle Sales Soar to Near-Record Levels

Makers still blowing trucks and utes out dealership doors.

by on May.03, 2016

Ford's SUV sales in April were red hot with the Explorer up 22% for the month.

Any concerns about a possible weakening for new vehicle sales this year have been set aside by strong demand for trucks and utility vehicles at near record levels last month.

Hungry buyers helped boost sales and transaction prices in April with Fiat Chrysler, Ford, Nissan, Toyota and Audi all posting sales increases for the month. Unsurprisingly, Volkswagen sales continued to slide, but General Motors’ drop overall sales was a surprise.

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Ford reported its sales increased 4% versus a year ago and retail sales also grew 3%, driving the company’s best April retail results since 2006.  (more…)

Despite Diesel Dilemma, VW Snatches Global Sales Lead from Toyota

Toyota loses momentum due to production snags.

by on Apr.27, 2016

Despite some serious problems, VW could retain the sales lead during the second quarter.

It’s had to suspend sales of its popular diesels in the U.S. market, and it’s already taken an $18 billion hit in the wake of its ongoing diesel emissions scandal, but not all is doom-and-gloom for Volkswagen AG.

The embattled automaker can celebrate the fact that it surged into the global sales lead for the first quarter of 2016, narrowly squeaking by Japanese giant Toyota which has had its own problems in recent months. General Motors continued to hold down the third spot in the global sales sweepstakes.

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Whether VW can hold the lead for the rest of the year is far from certain. It was, in fact, the top-seller for the first half of 2016, only to slip behind Toyota once again as the diesel disaster began to take its toll. But wildcard factors have a way of upsetting the industry’s apple cart, and Toyota is currently dealing with problems that will likely scuttle its chances of regaining the sales crown for at least another quarter.

(more…)