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Posts Tagged ‘auto sales’

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…)

Blistering August Sales Swell Luxury Vehicle Numbers

Frenzied month may mean slower September

by on Sep.03, 2014

Lexus captured the August luxury car sales crown. It's the second month in a row the Japanese brand has done so.

Luxury car sales remained brisk during August as Mercedes-Benz, BMW and Lexus as well as Audi all posted healthy sales increases last month in what has become an increasingly contest sales.

As it did in July, Lexus bested its German rivals for luxury sales leadership by selling 32,809 cars and utility vehicles. Lexus sales increased 10.1%.

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“It was a great market from top to bottom in August,” said Jeff Bracken, Lexus group vice president and general manager. “Lexus had its second straight record-setting month as both passenger cars and luxury utility vehicles posted solid gains.” (more…)

Lenders Cutting Back on Subprime Loans

Credit challenged getting fewer loans and less money.

by on Sep.03, 2014

Lenders are loaning less money, less often to subprime and deep subprime buyers these days.

While auto sales sizzled in August and have been brisk for the year, the lenders helping to move that metal are no longer relying on the subprime buyers to keep the good times rolling.

The percentage of new vehicle loans going to consumers in the subprime and deep subprime segments was at 15.1% in Q2 2014, down from 22.1% in Q2 2013, according to Experian Automotive. Subprime buyers have credit scores ranging from 619 down to 550 while deep subprime is anyone below 550.

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The numbers are still higher than the low of 10.2% during the depths of the recession in 2009, the current figures are still well below the prerecession level highs of 16.6% in Q2 2008 and 19.9% in Q2 2007, the company reported. (more…)

Automakers Defy Expectations with August Sales

Chrysler, Nissan, Ford, Toyota all post gains.

by on Sep.03, 2014

Nissan Rogue sales were up 24% in August, helping the company to an 11.5% increase overall.

Easy credit, rising consumer confidence and strong demand for utility vehicles and trucks pushed new vehicle sales upward towards a seasonally adjusted average rate of 17 million units in August, helping the auto industry maintain the momentum it had built up throughout the summer.

Chrysler, Ford, Audi, Nissan, Hyundai, Toyota all posted sales gains during August while General Motors and Volkswagen reported their sales dropped last month despite the strong consumer demand for new cars and trucks.

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The strong results defied analyst expectations of a small overall increase of just .1%. In fact, multiple automakers reported they expected industry-wide August sales to rise 3% overall. The early reports support their assertions. (more…)

Women Taking to Haggling Over New Car Price

Survey shows women enjoy process more than men.

by on Aug.29, 2014

Women, according to a new survey, enjoy haggling over the price of a new car more than men.

The stereotype of a woman being unwilling to haggle with a dealership salesperson thus relying on her husband or some other man to handle the negotiations is going by the wayside.

The comfort level of women when it comes to rolling up their sleeves and getting the best deal on a new car is rising, according to a recent survey by Swapalease.com. In fact, women are more likely than men to duke it out: 33.3% of women said “it makes it a fun process” compared with just 25.1% of men.

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Morn Cremeens, who recently picked up a 2014 Ram Laramie Longhorn pickup with the RamBox Cargo Management System, said much of her negotiating was done before walking in the door to the dealership via email. That said, once on site, the price came down some more. (more…)

Car Sales Still Hot, Even as Summer Cools Down

Month likely to bring best sales - and highest prices - for 2014.

by on Aug.22, 2014

New products - such as the redesigned Toyota Corolla - are helping push car sales higher.

Robust sales of new vehicles during the early summer months have continued in  August, with demand for new cars, trucks and crossovers on pace to surpass May for the  highest levels in 2014, according to a monthly sales forecast developed jointly by J.D. Power and LMC Automotive.

That echoes the findings of another new study showing that U.S. motorists have run up record levels of automotive loan debt this year.  John Humphrey, senior vice president of the global automotive practice at J.D. Power, notes that continued high levels of consumer expenditures on new vehicles demonstrate continued improvement of the health of the industry.

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“We expect consumer spending on new vehicles in August to approach $39 billion, the highest level on record for the month of August and second-highest month ever behind July 2005 when it was $39.7 billion,” said Humphrey. “The record consumer spending is fueled by both high sales volumes and high transaction prices.”

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Auto Sales Soar – But So Does Auto Loan Debt

Sub-prime lending and delinquencies raise concerns.

by on Aug.20, 2014

Sub-prime lending has sharply increased - though it remains lower than before the recession.

Car sales may be soaring to their highest levels since the depths of the recession but, in the process, U.S. motorists are running up record auto loan debts.

The combination of rising car prices and a negligible growth in wages has only compounded the problem, buyers going deeper into debt to drive off showroom lots. Outstanding auto loans hit an all-time record of $839.1 billion during the second quarter, a whopping 11.7% year-over-year increase, according to debt tracking service Experian Automotive.

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It marks the 13th consecutive quarter auto loan has increased, according to a separate report by the Federal Reserve Bank of New York. Overall, outstanding household debt was essentially flat, the Fed noted.

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