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Posts Tagged ‘auto sales’

Winter Storm Blasting East Coast May Temper Auto Sales

January was expected to post biggest number in nearly a decade.

by on Jan.27, 2015

Driving a Cadillac Escalade may be the only way shoppers on the East Coast could go out and buy a new car at the end of the month.

Monthly new car sales could take a hit from the fierce storm sweeping across the Northeast right now. The final weekend of the month is typically one of the best for car dealers, but big storms have a way of keeping potential buyers at home.

With what could be the highest reported January since 2006, sales are expected to increase 12.9% year-over-year. However, this could be impacted by the blizzard currently blasting parts of the East Coast, as we head into the final selling days of the month, according to analysts at Kelley Blue Book.

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Alec Gutierrez, senior analyst for Kelley Blue Book, noted January is typically one of the slowest months of the year, due to the strong push by manufacturers prior to year-end. However, at an estimated 1.14 million units expected in January, this month could be the one of the better Januarys in some time. (more…)

Consumers Win as Falling Oil Prices Rattle Market, Analysts

Gas prices drop for 100 consecutive days: a new record.

by on Jan.07, 2015

President Barack Obama warned Americans to not get used to the low gas prices, but also said it would be all right if they wanted to buy a car with their windfall.

The stock market has hit the skids this week as investors scramble to figure out the good and bad of the oil prices that have dropped below $51 a barrel, which is driving gas prices to levels not seen in a decade.

The AAA’s Daily Fuel Gauge reports that the price of gasoline across the U.S. has now fallen for more than 100 consecutive days, the longest streak on record, and the average price of gasoline around the nation has dropped below $2.20 per gallon or by more than 7 cents per gallon in the past week.

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In many metropolitan areas, however, the price of gasoline has now fallen well below $2 per gallon with sign indicating prices have dropped to $1.70 per gallon. (more…)

New Sales Record Can’t Push GM Past VW in China

GM finishes second for second consecutive year while Toyota is third.

by on Jan.06, 2015

Despite a record-setting performance in 2014, GM finished second to Volkswagen in China again.

With archrival Toyota beginning to retrench in the world’s largest market, General Motors and its joint ventures sold a record 3,539,970 vehicles in China in 2014, an average of one vehicle every nine seconds and almost 9,700 vehicles each day.

GM’s sales were up 12% from the previous high of 3,160,377 vehicles sold in 2013, but it wasn’t enough to pass market leader Volkswagen, which in 2013 emerged as the leading seller of new vehicles in China. Even Toyota’s sales were up 12.5%, but the company still finished a distant third behind VW and GM in 2014.

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VW sales rose 18% to more than 1.8 million vehicles, the company said today. That compares with GM’s 1.73 million units, an 11% increase. In 2013, the German automaker outsold GM in China for the first time in nine years. (more…)

New Car Sales Predicted to Top 17 Million in the US in 2015

Next year expected to hit new highs for new and used vehicle sales.

by on Dec.22, 2014

TrueCar expects the luxury vehicle segment to experience the largest sales growth in 2015.

A catalytic combination of an improving economy and lower gas prices will result in record results for the auto industry in 2015.

TrueCar, the online car-selling and data service, is predicting that new vehicle sales will exceed 17 million units next year and total sales will be more than 55.7 million units.

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“We see a convergence of favorable economic circumstances pushing auto demand up to pre-recession levels, including continued gains in the job market, the best consumer sentiment in eight years and low fuel prices,” said John Krafcik, president of TrueCar. (more…)

U.S. Auto Industry Generates Record $1.1 Trillion in 2014 Sales

But that number likely to double by decade’s end.

by on Dec.19, 2014

More than 54 million new and used vehicles will be purchase in 2014 accounting fro $1.1 trillion.

When the books are closed on 2014, combined new and used auto sales are likely to reach a record $1.1 trillion in the U.S. And that figure could double by decade’s end, according to various industry studies.

In all, Americans will have purchased 54 million new and “previously owned” cars, trucks and crossovers, reports data service TrueCar. The year appears to be ending with a solid December, according to other industry analysts, with new vehicle sales for the month expected to be up around 11% compared to year-ago numbers.

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On top of that, automakers have been able to boost prices at a time of strong demand during a period of sustained economic expansion and falling gas prices. So, forecast TrueCar, total revenues for the year will be up about 8.3%. (more…)

Volvo Selling Cars to Public Via the Internet

Maker undertaking radical marketing and sales strategy.

by on Dec.16, 2014

The new XC90 was sold on the Internet by Volvo: successfully. The company plans to roll the plan out across its line-up.

For more than a decade, automakers have attempted to sell new cars and trucks on the Internet, but with little success. However, Volvo seems willing to take crack at it.

The Swedish automaker, now owned by China’s Geely, went through a trial run with its new XC90 earlier this year, selling out the entire run of the crossover. It’s using the Internet again for its “Designer’s Choice” XC90, which consists of four models with different equipment and colors determined by the maker’s design team.

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The company now plans to expand its use of the Internet across its entire line-up. The process allows a buyer to order a Volvo online and submit a down payment using a credit card. Volvo forwards the information to a local dealer who then contacts the buyer. A buyer can get a refund if the buyer and the dealer can’t agree on price, delivery date or other particulars. (more…)

Mercedes Poised to Retain Luxury Sales Crown

U.S. makers sold more vehicles and made more on each of them in November.

by on Dec.02, 2014

Mercedes is the "defending sales champ" in the U.S. market, and it appears it will retain the title this year.

It is still too early to break out the champagne but it looks as if Mercedes-Benz will capture the luxury sales crown for 2014, beating out runner up BMW, the likely runner up, for the second year in row.

Mercedes-Benz recorded a modest 1.6% sales increase in November, beating out archrival BMW, which saw sales drop nearly 1%. The November numbers left Mercedes-Benz with a commanding lead of more than 20,000 units going into the final month of the year.

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Toyota’s Lexus division had its best November ever as it set a sales record, but has sold just 271,000 vehicles so far this year and is unlikely to overtake its German rivals even though it expects to sell more than 300,000 units. Audi increased its sales for the 47th month in row and has already set an all-time yearly sales record. (more…)

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.”

(more…)

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…)