Detroit Bureau on Twitter

Posts Tagged ‘auto sales’

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.

Informed!

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.

On Top of the News!

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.

High Performance News!

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.

The Automotive Journal of Record!

“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.

Subscribe for Free!

“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.

Your Automotive Source!

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.

The Automotive Journal of Record!

“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.

Subscribe for Free!

“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.

The Leader in Global Automotive News!

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.

Subscribe for Free!

“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…)