Posts Tagged ‘car sales’
New research increases concerns that U.S. is losing love affair with the automobile.
by Paul A. Eisenstein on Jun.19, 2013
Fewer Millennials seem to be falling in love with the automobile, studies show.
We’re coming up on the centennial of the moving assembly line, the seminal event that helped put America on wheels. Today, there are more cars than licensed drivers in the U.S. – but a new study adds to growing concerns that America’s love affair with the automobile might be coming to an end.
There have been a number of recent studies that seem to support that argument, including research by the University of Michigan Transportation Research Institute, or UMTRI, that Millennials are generally waiting longer to get their licenses than prior generations – if they get them at all.
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But a new UMTRI study raises even more flags, noting that the number of vehicles on U.S. roads peaked in 2008 and has been steadily declining since then.
That could be the result of a weak economy, concedes author Michael Sivak. “On the other hand,” he quickly cautions, the trend was already in motion even before 2008, the rate of growth slowing before the automotive market dipped into its worst downturn since the Great Depression. That just could “reflect other societal changes that influence the need for vehicles,” according to Sivak.
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Tags: america love affair with automobile, auto news, car news, car sales, motorization, paul a. eisenstein, paul eisenstein, thedetroitbureau, umtri, us automobile sales, us automobile total
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Large trucks, utilities leading the sales surge.
by Joseph Szczesny on Jun.03, 2013
Ford's May sales were up 14% in May. Utilities like the Escape were up 15%.
Strong sales of pickup trucks and luxury cars, sales of new vehicles rose again in May as carmakers continued to help keep the U.S. economy growing despite the continuing concerns about deficits and job creation.
The three domestic carmakers, General Motors, Ford Motor Co. and Chrysler Group, all posted sales increases for May, as did their principal Japanese rivals – Nissan, Toyota and Honda – as well as luxury carmakers, such as BMW, Mercedes-Benz and Audi.
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Ford led the way as its sales increased 14% in May, with cars up 9%, utilities up 15% and trucks up 18%. Retail sales increased 17%, marking the best May retail sales results since 2005.
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Tags: Audi, BMW, Ford, TheDetroitBureau.com., U.S. sales, VW, Volkswagen, auto sales, car sales, chrysler, fiat, gm, honda, joseph szczesny, nissan, thedetroitbureau, toyota, u.s. car sales
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Large trucks, utilities pushing monthly sales jump.
by Joseph Szczesny on Jun.03, 2013
Ford posted a 14% sales increase in May with trucks leading the way.
Bolstered by strong sales of pickup trucks and luxury cars, sales of new vehicles rose again in May as carmakers continued to help keep the U.S. economy growing despite the continuing concerns about deficits and job creation.
The three domestic carmakers, General Motors, Ford Motor Co. and Chrysler Group, all posted sales increases for May.
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Ford led the way as its sales increased 14% in May, with cars up 9%, utilities up 15% and trucks up 18%. Retail sales increased 17%, marking the best May retail sales results since 2005.
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Tags: Audi, Ford, TheDetroitBureau.com., Volkswagen, auto sales, buick, car sales, chevrolet, chrysler, fiat, general motors, gmc, l Joseph Szczesny, lincoln, thedetroitbureau, truck sales, u.s. car sales
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Middle-age buyers far more likely to buy cars than Millennials.
by Paul A. Eisenstein on Jun.03, 2013
Aging Baby Boomers still are the powerhouse when it comes to auto sales.
While automakers may be focusing a lot of their attention on the next generation of potential buyers, they shouldn’t forget about the middle age motorists who remain key to the industry’s recovery, warns a new study.
Millennials may someday be the dominant buying group, but for now, Baby Boomers remain at least 15 times more likely to buy a new car, truck or crossover, reports the University of Michigan Transportation Research Institute, or UMTRI.
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“The probability of buying a vehicle per driver is highest for people between 55 and 64 years of age,” said lead researcher Michael Sivak. “That is probably surprising to many people because they think of much younger people being the target audience.”
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Tags: auto news, auto sales, baby boomers, baby boomers car sales, car news, car sales, gen-x car sales, gen-y car sales, millennials car sales, paul a. eisenstein, paul eisenstein, thedetroitbureau
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Pickup trucks show particularly strong demand.
by Joseph Szczesny on May.23, 2013
The surge in truck demand should be especially good for GM as it launches the new Chevy Silverado.
Sales of new vehicles appear to be holding steady during May with strong demand for pickup trucks helping set the pace, analysts are reporting.
Just how much the market will be up for the month is a matter of debate, with forecasts ranging from 6% to 9%. Significantly, consumers are driving much of the growing demand, though fleets are also increasing sales which could be a sign of a recovering economy.
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“We’re in a nice place in terms of retail sales,” said Mike VanNieuwkyuk of global vehicle research at J.D. Power & Associates. Car sales have recovered nicely from the recession and have maintained their recent momentum, VanNieuwkyk noted during a panel discussion at the Wards Auto Interiors
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Tags: auto incentives, auto industry sales, auto news, auto sales, car news, car sales, jd power car sales, joe szczesny, may 2013 auto sales, may 2013 car sales, thedetroitbureau, truck sales
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Low rate gives Japanese makers pricing advantage.
by Joseph Szczesny on May.10, 2013
Toyota gains a pricing advantage over U.S. competitors due to the weak yen.
American carmakers are complaining that the Japanese government’s deliberate manipulation of the yen is giving Japan’s carmakers an unfair advantage.
Matt Blunt, president of the American Automotive Policy Council, which represents the interests of General Motors, Ford and Chrysler in Washington, D.C., said Japan is taking unfair advantage of the global trading system after the value of the yen dropped to a new low relative to the U.S. dollar.
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“The depth of Japanese currency manipulation has reached a new low,” Blunt said in a statement.
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Tags: Alan Mulally, Ford, Ford CEO Alan Mulally, TheDetroitBureau.com., U.S. automakers, car sales, chrysler, currency manipulation, general motors, gm, honda, japan currency manipulation, japanese car sales, l Joseph Szczesny, mazda, nissan, subaru, thedetroitbureau, toyota, yen
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"Irrepressible buying behavior" keeps showrooms busy.
by Joseph Szczesny on Apr.22, 2013
Ford continues to see record demand for its new Fusion despite signs of an uncertain economy.
Sales of new vehicles during the first half of April remained in a healthy holding pattern as buyers continued to replace aging vehicles, according to the updated monthly sales forecast developed by J.D. Power and Associates’ Power and Associates and LMC Automotive.
That could be good news for analysts fretting about other weakening signs in the U.S. economy. The auto industry was one of the strongest sectors of the economy coming out of the last recession and could help maintain that pace in the months ahead.
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“The irrepressible buying behavior of consumers is driving auto sales growth in 2013, as consumer spending remains remarkably stronger than the economy suggests it should be,” said Jeff Schuster, senior vice president of forecasting at LMC Automotive.
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Tags: april 2013 car sales, april car sales, auto news, auto sales, car news, car sales, car sales economy, joe szczesny, thedetroitbureau, us economy
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Ford nudges past Toyota, lands three in Top 10.
by Paul A. Eisenstein on Apr.09, 2013
The Ford Focus toppled the long-running global best-seller, the Toyota Corolla.
Ford Motor Co.’s increasing focus on global small cars apparently is paying off. Make that the Ford Focus which was the world’s best-selling automobile overall last year, according to new data from R.L. Polk & Company.
The Detroit maker’s compact model rang up more than 1 million sales last year, almost 17% more volume than Toyota recorded for its traditional sales leader, the compact Corolla model. Ford also scored at the other extreme, its big F-Series pickups collectively coming in third on the global sales list. In all, Ford landed three different models in the Top 10, including the sixth-ranked Fiesta subcompact.
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Toyota and Honda each had two models on the Polk chart, while Volkswagen and General Motors’ Chevrolet brand each had one. But the Top 10 list also included a new name likely not recognizable to most Westerners: China’s Wuling Zhiguang which generated 768,870 sales, landing just behind the F-Series in fourth place.
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Tags: Ford Focus, Toyota Corolla, Wuling, auto news, auto sales, best-selling cars, car news, car sales, china cars, ford f-series, ford news, paul a. eisenstein, paul eisenstein, rl polk, thedetroitbureau, toyota news, world's best-selling cars
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Ford takes aim at downsized “super-segment.”
by Paul A. Eisenstein on Mar.22, 2013
Stylish products, like this Ford Fiesta, targeting a downsized "super-segment" have helped Detroit retake share from the Japanese.
Rob Golden, a Los Angeles-based writer, can’t recall the last time he owned an American car, “unless it’s the Chevy my parents drove when we moved to California when I was 10.” But when it was time for his college graduate son to get his first new car, he opted for a Ford Fiesta, rather than the Toyota Camry or Corolla his father wanted 23-year-old Daniel to buy.
“I just think it’s cooler looking and a lot more fun to drive,” he explains.
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The members of the Golden family aren’t unique. Baby Boomers by the millions shifted their loyalty to import makers like Toyota, Nissan and Honda over the last four decades. But their children appear to be migrating, in large numbers in the other direction, according to a number of new studies.
“U.S. automakers have burst onto the scene in recent years with small, fuel-efficient and affordable cars that really appeal to a young set of buyers,” says Edmunds.com Senior Analyst Jessica Caldwell.
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Tags: auto news, auto sales, car news, car sales, chevrolet news, chevy millennials, detroit big 3 market share, ford millennials, ford news, gm news, millenial car buyers, millennial car buyers, millennials, paul a. eisenstein, scion news, thedetroitbureau, toyota news, young car buyers
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Car buyers turn blind eye to Washington budget battle.
by Joseph Szczesny on Mar.01, 2013
Porsche - its Boxster shown here - delivered February's biggest sales gain.
For the last several years, automotive sales have helped carry the struggling economy. This time, however, the recovering housing market appears to be giving a boost to the auto industry.
February sales showed unexpectedly solid momentum, automakers are reporting today, despite concerns about recent fuel price spikes and the potential damage that the ongoing budget battle in Washington could cause to a still-fragile economy.
As in recent months, cheap financing and pent-up demand helped propel the car market, but industry analysts say other factors helped drive a roughly 7% increase for February in the sales of new cars, trucks and crossovers.
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“The housing sector has now joined auto sales in propelling the U.S. economy forward,” said Kurt McNeil, vice president of U.S. sales operations for General Motors, which reported a 7% increase, year-over-year. “More importantly, the recovery in new home construction is reinforcing the underlying improvement in auto buying conditions, especially for pickups.”
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Tags: February auto sales, Ford Sales, GM sales, Nissan sales, auto news, auto sales, autos housing, car news, car sales, chrysler sales, february 2013 car sales, february car sales, honda sales, joe szczesny, porsche sales, thedetroitbureau, toyota sales
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