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New Vehicle Sales Take a Tumble in April

Buyers not taking incentive bait portends down year.

by on May.02, 2017

Auto sales took a hit in April as even higher-than-normal incentives couldn't draw buyers to dealerships.

With the industry on a steady decline, 2017 appears to be on track to be the first down year since the industry emerged from the Great Recession.

Sales of new vehicles suffered a bigger drop than expected during April, as General Motors, Ford Motor Co. Fiat Chrysler Automobile N.V., Toyota and Nissan all reported sale drops as consumers appeared to become more resistant to record incentives.

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The decline in sales among top-selling brands sets up the industry for a sales drop in 2017. It would be the first year that sales of new vehicle sales have declined since the great recession and reflects the weaker than expected economic numbers that were reflected the U.S. Commerce Department’s estimate the U.S. economy grew by less than 1% in the first quarter. (more…)

New Car Sales Slide in August

Decline comes as makers are spending big on incentives.

by on Aug.26, 2016

Analysts are expecting August new vehicle sales to dip despite the highest incentives on new cars in a year.

Sales of new vehicles have hit a speed bump during August, even as incentive spending increased, according to a new estimate by analysts.

A monthly sales forecast developed jointly by J.D. Power and LMC Automotive indicates that new-vehicle retail sales in August are expected to drop 6.5% from a year ago, and total new-vehicle sales are expected to slip 5.2%.

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The Seasonally Adjusted Annual Rate of sales or SAAR is also expected to drop to 16.8 million units in August, according to the J.D.Power and LMC Automotive model, which leans heavily on sales data collected from new car dealers around the country. (more…)

May New Vehicle Sales Expected to be Strong

Total numbers will be lower due to fewer selling days.

by on May.27, 2015

Small SUVs and crossovers like the 2015 Lincoln MKC are still selling strong in May despite rising gas prices.

Early reports show that May will be a strong month for new car sales, but when the numbers come out they are likely to show sales being down on a year-over-year basis.

According to Kelley Blue Book (KBB), sales are likely to come in at 1.59 million units this month, which will be down 1%. So what’s with all the optimism? There’s one less day this year to sell cars, trucks and SUVs than last May so the seasonally adjusted annual rate (SAAR) is actually higher (17.3 million versus 16.5 million last May) even though fewer vehicles will leave dealer showrooms.

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“May sales will reach the highest total year-to-date, and could remain the highest until December of this year,” said Alec Gutierrez, senior analyst for Kelley Blue Book.  “While we expect an overall decline in volume versus last year, the difference is the result of one fewer sales day from May 2014, and total SAAR will reflect year-over-year improvement. (more…)

New Car Sales Could Hit 17 Million in 2015

NADA economist says strong sales here to stay through 2018.

by on Nov.18, 2014

Steven Szakaly, NADA chief economist, predicted yesterday that new car sales in the U.S. may approach 17 million units in 2015.

The good times, at least in terms of new car sales, will continue to roll in 2015 with nearly 17 million vehicles expected to pass through dealer lots, according to the National Auto Dealers Association.

The organization expects the industry will sell 16.94 million new vehicles next year – which would be up from the expected 16.4 million this year – due to rising employment and wages, continued low interest rates and lower gasoline prices.

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“The economy will continue to build on the solid growth established in 2014, and we also expect the fundamental conditions to improve in the year ahead,” said NADA Chief Economist Steven Szakaly during a speech yesterday. “Gross domestic product will grow at 3.1% in 2015, with the potential for growth to exceed our forecast.” (more…)

Good Times for Auto Industry Coming to an End

Study suggests new car sales will decline in near future.

by on Jul.10, 2014

An AlixPartners study suggests that the frenetic auto sales pace of 2014 will begin to cool off in the near future.

Automakers and auto dealers better enjoy the good times while they last because new car sales are going to begin sliding after this year, with a serious drop off by 2017, according to a new study.

AlixPartners, a global business advisory firm, suggests automakers are going to get  chance to prove they can make money while selling 12 million vehicles a year in the near future. The industry is tracking for a 16-million to 16.5-million unit sales year right now, but they predict that’s all going to come to an end.

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“The good news is the global auto industry made it through the financial crisis, recession and a whole lot of pain,” said John Hoffecker, co-president of the Americas at AlixPartners. “The bad news is what’s ahead is uncertain and unprecedented, and could be painful as well.” (more…)

U.S. Auto Sales Hit 16.6 Million Units in June

GM sees small increase while others enjoy stronger results.

by on Jul.01, 2014

The all-new 2015 Audi A3 is helping the German maker to another banner year in 2014.

Overall June was another stellar month for U.S. automakers, General Motors faced positives and negatives. The automaker’s sweeping recalls managed to divert attention away from the troubles at Cadillac and its flat sales.

Despite those issues GM managed to eke out a 1% sales increase despite predictions that sales might fall under the weight of an unfavorable year-to-year comparison and the din from the recalls. But Cadillac sales increased less increasing by only one-tenth of 1%.

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Meanwhile, the luxury brands from Germany and Japan continued to post sales increases. Mercedes-Benz, BMW, Audi, Jaguar Land Rover and Lexus all reported sales hikes. Mercedes, Audi and Lexus posted double-digit increases. Among Cadillac’s rivals in the luxury space, only Infiniti and Volvo, both of which are facing challenges gaining credibility among luxury buyers, saw sales decline. (more…)

FTC Suggests States Repeal Pro-Dealer Laws

Missouri, New Jersey told that direct auto sales are good.

by on May.19, 2014

The Federal Trade Commission told two state legislative bodies that they should repeal laws preventing automakers, such as Tesla, from selling vehicles directly to consumers.

Once again, officials at the Federal Trade Commission have put a broad smile on the face of Elon Musk, Tesla Motors’ founder and chairman.

For the second time in less than a month, three administrators suggested that laws requiring new vehicles be sold by independent dealers be repealed or scaled back.

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The administrators, Andrew Gavil, director of the FTC’s Office of Policy Planning; Deborah Feinstein, director of the Bureau of Competition; and Martin Gaynor, director of the Bureau of Economics, responded to requests for information from members of the Missouri House of Representatives and the New Jersey State Assembly. (more…)

BMW Group Sets Sales Record for Third Quarter

Sales for first nine months also reach new highs.

by on Nov.06, 2013

The BMW Group reported record sales for the third quarter despite challenging times in Europe.

The BMW Group income increased 3.2% during the third quarter as its unit sales jumped more than 10% despite the challenging and volatile business conditions, prevailing across Europe.

“Reported figures for both the third quarter and the nine-month period have developed positively despite the higher level of expenditure on new technologies and a challenging market environment in Europe. We have recorded best-ever worldwide sales volume figures to date and remain within our targeted margin range for the Automotive segment,” said Norbert Reithofer, chairman of the Board of Management of BMW AG.

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Based on its strong performance in the first nine months of the year, the BMW Group also reaffirmed its outlook for the current year, Reithofer said. (more…)

Buyers Celebrate End of Shutdown with New Vehicles

Industry still tracking for sales in the mid-15 million range.

by on Nov.01, 2013

Toyota's 8.8% sales increase in October was led by the new Corolla with a jump of 12.8%.

Automakers enjoyed a return to robust sales in the United States in October. The strong sales came after some sluggishness early in the month due to the 16-day government shutdown. Buyers returned to showrooms en masse providing some automakers with record October sales for some models.

With the final numbers being tabulated, October sales are expected to be almost 13% higher than the previous October. In fact, the number of automakers seeing sales increases far outstripped those witnessing declines. Japanese- and U.S.-based both shared in the return to prosperity.

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Toyota saw its sales jump 8.8% in October and its luxury subsidiary, Lexus, enjoyed an even bigger jump of 14.5%. The makers latest products led the way, including the new Corolla, which sold 23,637 units this October compared with 20,949 last year resulting in an increase of 12.8%. (more…)