Detroit Bureau on Twitter

Posts Tagged ‘car sales’

Used Car Buyers Charged Up about EVs and Hybrids

Top three fastest selling used cars in U.S. are electrics.

by on Jul.22, 2016

The Toyota Prius plug-in hybrid is the fastest-selling used car in America through May.

Looking for a good used car? Well, if you find a hybrid or an EV you like, don’t dawdle on buying it because it’ll be off the lot before you know it.

According to iSeeCars.com, five of the top 10 fastest selling used cars in the U.S. in the first half of this year were hybrids or full electrics, including the top three movers. Perhaps even more astonishing, only one of the top 10 is an American car.

The Last Word!

Overall, iSeeCars.com found that one- to three-year-old used cars took an average of 42.4 days to sell. The top 10 fastest selling cars, however, were much faster—ranging from just 19.7 days on the market to 29.4 days. (more…)

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.

The Leader in Global Automotive News!

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

Buick Reportedly Planning to Kill Off Verano

Move would mark another shift from cars to SUVs.

by on May.10, 2016

Buick will be dropping the Verano as it shifts from passenger cars to light trucks.

Just days after Fiat Chrysler outlined plans to phase out several of its passenger car models and shift production to its SUVs and pickups, reports have surfaced indicating General Motors’ Buick will drop the small Verano sedan model as the brand shifts its own focus to a growing line-up of sport-utility vehicles.

The move would not surprise industry observers who have been observing more and more American motorists walk away from traditional passenger cars in favor of utility vehicles, pickups and other light truck models that, in recent months, have accounted for as much as 60% of new vehicle sales in the U.S.

Tracking Trends!

The shift has forced manufacturers to rethink both manufacturing and product development strategies. And, in some cases, it has led them to cut back or even idle production at some of the plants producing slow-selling sedan and coupe models, such as Fiat Chrysler’s Sterling Heights Assembly Plant and the Orion Assembly Plant that produces the Verano.

(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.

The Journal of Record!

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…)

Summer Blend Makes Gas Prices Rise

Refineries shifting to special seasonal mix.

by on Apr.05, 2016

Gas prices are on the rise as producers move to the summer blend of fuel.

With the summer driving season fast approaching, the price of gasoline continues to climb, pushing the average price beyond $2 per gallon, according to a new report by AAA.

Despite increasing for 36 of the past 41 days, the national average is at its lowest price point for this same date since 2009, according to AAA.

The Future Is Now!

“The average price of $2.06 per gallon represents an increase of two cents on the week and 24 cents on the month. Pump prices continue to reflect year-over-year discounts, and drivers are saving 34 cents per gallon versus this same date last year,” the organization noted. (more…)

New Vehicle Sales Holding Strong in February

Compact car sales going strong this month.

by on Feb.23, 2016

Longer, lower, roomier. Honda's 2016 Civic is one of the compact cars enjoying strong sales in February.

Despite the uncertainty that has rippled through the economy since the start of the year, new car sales have remained robust.

New-vehicle sales this month are expected to increase 8.1% from a year ago, according to a monthly sales forecast developed by J.D. Power and LMC Automotive.

News Now!

The SAAR for total sales is projected to reach 17.7 million units in February 2016, up 1.4 million units from 16.4 million a year ago when much of the country was snowbound and the highest rate since 2000 when it briefly reached 18.9 million units. (more…)

New Vehicle Registrations Guarantee Record 2015 Sales

Crossover vehicles leading the sales charge.

by on Dec.14, 2015

New vehicle registrations are at record levels in 2015, suggesting the old sales record of 17.4 million will fall.

The news has been filled with all types of statistics to quantify the number of new vehicles have been sold this year. Well, the simplest may be this: in the last 12 month, 17 million new vehicles have been sold: the best result since 2006.

Experian Automotive released the number of new vehicle registrations from Nov. 1, 2014 through Oct. 31, 2015 in the U.S. and the number matches the record result from 2006, and supports the assertion that 2015 will set a new single-year mark.

News Now!

“It’s encouraging to see new registrations return to prerecession levels, with lower interest and higher employment rates driving vehicle demand,” said Brad Smith, Experian’s director of automotive market statistics. “While I’m sure the auto industry would like to continue this growth annually, it is important to continually monitor data trends and economic indicators to identify shifts in demand and adjust business strategies accordingly.” (more…)

October Auto Sales Frighteningly Good

Trucks, SUVs continue to lead the pack.

by on Oct.27, 2015

October auto sales are expected to be the best October results since 2001.

The auto industry is looking at another big month in October as sales are moving at very brisk pace and carmakers, with the exception of scandal-tarred Volkswagen, continue to post sales gains.

New-vehicle retail and total sales in October 2015 are expected to be the strongest for the month since 2001, when automakers’ “Keep America Rolling,” 0% financing incentives propelled new-vehicle retail sales to 1.6 million units.

Sales News!

“September was a strong month — bolstered by the Labor Day weekend — so the expectation is that we would see some weakness is subsequent months, but that hasn’t been the case,” said John Humphrey, senior vice president of the global automotive practice at J.D. Power. “Through the first 18 days in October, retail sales are up 7% compared with the same period a year ago.” (more…)

June Auto Sales Hit Record Levels

Crossovers, trucks, sport-utes continue leading charge.

by on Jul.01, 2015

The 2015 Lincoln Navigator sales boomed in June, rising 39% and helping Ford to an overall sales increase of 2% last month.

New vehicle sales continued their torrid pace for in the U.S. in June, helping the auto industry finished up the best six months in a decade with a slew of automakers posting sales increases or logging manufacturers sales records.

General Motors, FCA US, Ford, Nissan, Toyota, Audi, Volkswagen and Mazda all reported sales increases in the buoyant market lifted by strong demand for trucks and utility vehicles.

Sales News!

FCA US LLC posted an 8% increase compared with sales in June 2014 and the group’s best June sales since 2006 and recorded its 63rd-monthly sales increase in a row. (more…)

Auto Sales Booming – But Are Automakers Pricing New Cars Out of Reach?

Even economy cars now require a 6-figure household income level.

by on Jun.10, 2015

Ne vehicle sales are booming, but middle class salaries are stagnating at the same time. How long will the good roll with this conundrum?

A half-decade after plunging to its lowest levels in a half-century, the U.S. new car market is in the midst of a major boom. Repeatedly countering skeptics, Americans keep buying more and more new cars, trucks and crossovers, and a new Bank of America study suggests we could see an all-time sales high of 20 million by 2018.

Car manufacturers already are taking in record revenues. All told, U.S. buyers spent $52 billion for their new vehicles in May, as the price of the typical vehicle surged to $32,452, up 4% from May 2014, according to TrueCar.com. At a time when the American middle class is suffering from income stagnation, that may come as a surprise. Buyers are finding workarounds, among other things, stretching their car loans out to record levels. Others, however, are abandoning the new car market in favor of “nearly new” certified used car programs.

Stay Informed!

That’s leading some skeptics to wonder whether the sales boom can continue at a time when many automakers are raising prices at well above the rate of inflation, stretching already strained middle-class budgets. With traditional low-cost brands like Hyundai and Kia moving up-market, could that create an opening for a new generation of entry-priced offerings from China’s ambitious automakers? (more…)