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Posts Tagged ‘GM sales’

Detroit Automakers Lead July Sales Increases

Chrysler and Ford hit double-digit gains; GM just misses.

by on Aug.01, 2014

The new Jeep Wrangler posted a 14% increase last month for its best-ever July sales result.

With Detroit’s automakers leading the way, new car sales remained very strong during July thanks to an improving economy, ample financing and the appeal of new products that have given automakers a major lift.

Transaction prices also continued to exceed $32,000 per unit as consumers and automakers remained willing to take on more debt for a new vehicle and carmakers and banks remained more than willing to underwrite it. Analysts said.

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Chrysler Group continued to roll last month reporting a 20% increase compared with sales in July 2013. The Chrysler, Jeep, Dodge, Ram Truck and Fiat brands each posted year-over-year sales gains in July compared with the same month a year ago. (more…)

Toyota Maintains Global Sales Lead – Barely

VW closing gap as GM settles into third spot.

by on Jul.30, 2014

Strong demand for new models, such as the redesigned Corolla, helped Toyota retain the sales lead for the first half of 2014.

While its lead has been narrowing, Toyota Motor Co. retained its crown as the world’s best-selling automaker during the first half of 2014.

The maker edged out rivals Volkswagen AG and General Motors in the global sales sweepstakes as demand for its cars, trucks and crossovers surged to 5.097 million between January and June, a 4% increase fueled by growth in markets ranging from U.S. and Europe to China and the Japanese home islands.

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That was not only an all-time record but exceeded forecasts – while positioning Toyota to meet a goal of becoming the first automaker ever to sell 10 million vehicles in a single year. VW is also shooting for the 10 million mark, though preliminary data indicate it only tallied sales of 4.97 million vehicles during the first half, GM following at 4.92 million.

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US Car Market Showing No Signs of Cooling Down

SUVs, crossovers and luxury vehicles drive demand.

by on Jul.28, 2014

Strong demand for products like Altima mean Nissan will deliver a double-digit July sales gain.

It may be an unexpectedly cool summer in much of the country but you wouldn’t know by looking at July’s sales numbers – which have many industry observers expecting the rest of the year to remain hot.

Mark Fields, Ford Motor Co. chief executive officer, noted the general economy appears steady, which should lead to strong sales during the second half of the years. Chuck Stevens, General Motors chief financial officer, also said the second half of the year looks very promising.

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Preliminary data suggest that July new-car sales will be up about 12% over year-earlier numbers, putting the industry on track for its best July since 2006, well before the U.S. economy began to collapse. Overall sales should reach about 1.46 million for the month, according to new forecasts from TrueCar and Kelly Blue Book, and that translates into a seasonally adjusted annual rate, or SAAR, of 16.6 million to 16.7 million, roughly a million ahead of total sales in 2013.

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GM Remains in Tight Race for Global Sales Leadership

VW holds tiny lead, but Toyota has yet to weigh in.

by on Jul.17, 2014

GM is hoping new product - such as the Chevy Colorado, shown here with product chief Mark Reuss - will help it regain global sales leadership.

Despite recalling millions of vehicles and watching billions of dollars in new legal claims pile up during the first half of the year, General Motors is still in a relatively close race for global sales leadership with rivals Volkswagen and Toyota.

GM has reported selling 2.5 million vehicles around the world during the second quarter of 2014, with year-over-year sales in the United States and China, the company’s two largest markets, growing by  7% and 8%, respectively. Globally, GM’s total sales were up 0.5% for the second quarter. In the first half, GM sold 4,921,928 vehicles, up 1.4%.

Stay in the Race!

Volkswagen AG, thanks to strong sales in China and a solid performance in Europe as well as gains by Audi and Porsche, held a whisker-thin lead with sales of 4.97 million vehicles worldwide during the first half of the year. VW is actively targeting global sales leadership – but the race likely won’t be determined until later this month when Toyota Motor Co. weighs in with its own figures.

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Nearly Every GM Model Targeted for Recall This Year

Maker hits 54 separate recalls in just six months.

by on Jul.01, 2014

One of the very few new GM vehicles not recalled this year: the 2014 Chevrolet Equinox.

The numbers are daunting: 54 separate recalls in just six months impacting nearly 26 million vehicles sold in the U.S., nearly 29 million worldwide. For General Motors that works out to one separate recall nearly every three days. It has a record for any individual manufacturer, and has pushed the overall U.S. auto industry to an all-time record, manufacturers collectively recalling about 39 million vehicles in just six months, 20% more than the previous peak set for all of 2004.

When GM’s recall frenzy began, back in mid-February, with the first recall related to faulty ignition switches, senior executives like CEO Mary Barra were quick to point out that the problems were largely focused on products built by the “Old GM,” before the maker’s 2009 bankruptcy, such as the now abandoned Chevrolet Cobalt. If anything, newer models, such as the 2014 Chevy Impala, they stressed, were winning rave reviews and endorsements from the likes of the Insurance Institute for Highway Safety.

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But while GM’s recall frenzy continues to sweep up older products – including this week’s callback of 6.8 million vehicles dating back to 1997 for “unintended ignition key rotation” – a growing number of new models are also being targeted. In fact, a search of GM and federal recall records by TheDetroitBureau.com shows that only three of more than three dozen General Motors products, along with a few model variants, have so far not been subject to recall in 2014.

The only key models not among the list of 54 recalls are: (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…)

June Car Sales Deliver Unexpected Surprises

GM defies skeptics, posts best numbers in seven years.

by on Jul.01, 2014

The new Chrysler 200 helped drive a strong month for the Detroit side of Fiat Chrysler.

With motorists facing new worries over rising gasoline prices, sales of fuel-efficient passenger cars perked up in June, while General Motors Co. surprised some observers by posting a modest 1% sales increase despite its ongoing recall crisis.

Chrysler, Toyota, Nissan and Hyundai also reported sales increases in June, while Porsche reported its best-ever numbers for the month. On a seasonally adjusted basis, June saw the industry operating at a 16.6 million annual rate, well ahead of the industry’s overall performance for the first half of the year. Were that figure to hold, the industry would sell nearly 1 million more vehicles than it did in 2013. Meanwhile, consumers wound up paying more than ever for their new vehicles in June, according to industry analysts.

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There had been concern that June might bring a slowdown to the rapid recovery of the U.S. automotive market, in part due to worries about fuel prices. Some analysts, meanwhile, were predicting that GM would go into the negative column because of its ongoing recall crisis. It ended the month by announcing four new recalls covering 7.6 million vehicles in the U.S. alone. GM has now had 54 separate recalls since January, covering about 26 million vehicles in the U.S., and 29 million worldwide.

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June Car Sales Looking Robust – But GM Could Take Hit

Industry is in “the position since well before the Great Recession.”

by on Jun.27, 2014

Demand for the new Jeep Cherokee is leading the way for Chrysler's strong sales performance.

Neither the threat of rising gasoline prices nor the distraction created by the World Cup tournament has short-circuited the U.S. new vehicle market this month, according to industry analysts and executives – though the recent, torrid pace has slowed a bit.

Preliminary estimates call for a modest gain for June of perhaps 1% or so, overall, with the Seasonally Adjusted Annual Rate of sales, or SAAR, expected to reach around 16.4 million, not far under the industry’s peak of a decade ago.

On Track!

“Sales have been very good,” said David Zuchowski, president and chief executive officer of Hyundai Motors America.

That’s a position echoed by other industry insiders.

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New Car Sales Soar in May

Ford defies expert predictions with small sales increase.

by on Jun.03, 2014

Jeep Wranger saw its best May sales ever last month. The Jeep brand overall was up 58% during the period.

Buoyed by fantastic weather and a fifth weekend for dealers to move metal, new vehicle sales during demonstrated renewed strength in May.

Those factors helped Jeep post its best monthly sales in history and led General Motors to predict it would gain marketshare this year.

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General Motors, Ford, Chrysler, Nissan, Toyota, Hyundai and Audi all reported increased sales during May. (more…)

GM Struggles to Salvage Reputation Amidst Recall Crisis

Financial impact worsening.

by on May.21, 2014

GM CEO Mary Barra was whacked like a pinata during hearings on Capitol Hill.

After having already recalled more vehicles than during any full year in its history, even as it faces a Justice Department probe that could result in criminal charges and hefty fines, General Motors is clinging to the hope that it somehow won’t suffer long-term damage to its brands.

So far, GM has managed to hang on despite the storm of negative publicity.  The company’s sales held up in April after the scandal became top-of-the hour headline news and it got a little bit of good news this week when influential ALG – the former Automotive Leasing Guide – issued a new report that the residual, or resale, values of GM car have remained relatively stable.

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That said, the automaker is facing a flurry of legal actions that it warned this week lay claim to over $10 billion in potential damages. (more…)