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New Vehicle Sales Regain Some Momentum in June

Industry back on track for record year.

by on Jul.01, 2016

The introduction of the revived Honda Ridgeline pickup truck helped the maker to a sales increase for the company in June.

Sales of new vehicles held steady in June after taking an unexpected slump the month before, with several automakers posting the sort of incremental gains that kept the auto industry pointed towards another record year.

Fiat Chrysler Automobiles, Ford Motor Co., Nissan and Honda all reported sales increases. But Toyota reported a 5.6% drop in sales, its Lexus brand off by 1.3%. It was a split decision for several makers, the Honda brand up, its Acura luxury marque losing 27%. And while Volkswagen continued to feel the effects of its diesel scandal with a 22% decline, its Audi arm scored its 66th consecutive monthly sales gain.

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The industry, overall, was expected to ring up to a record $51 billion in new vehicle sales for the month, in part by “maintaining a reasonably disciplined approach to incentive spending as the overall pace of sales expansion moderates,” said Oliver Strauss, chief economist for data tracking firm TrueCar. (more…)

What’s Going on With Rising Auto Inventories?

Have we already forgotten the lessons of 2009?

by on Jul.05, 2011

In seriously short supply: the Audi Q7 diesel.

At this point in the calendar, with six months of calendar 2011 auto sales behind us, there is a lot of thumb-sucking going on among automotive writers and analysts. The tsunami upset the Japanese apple cart and deliveries of the two top selling cars, Accord and Camry, as well as the 2012 remake of the popular Civic. But Detroit doesn’t seem to be taking up the slack. Will total sales this year exceed 12 million or not (versus the 16-17 million years not so many years ago)?

I want to suggest a seldom-talked-about metric to the analysis game: days supply, or inventory of unsold models, as reported by trade paper Automotive News, usually at mid-month (so we won’t have the July 1 count until mid-July). But we can look at the last few months’ inventory numbers to see if we can figure out what’s going on and how it relates to the reported retail deliveries.

It’s not necessarily easy.  When GM was recently reminded that it had nearly twice as many full-size pickups in stock compared to what’s considered routine the maker simply changed its definition of normal to make the bulging dealer stocks seem perfectly fine.

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The tradition has long held that domestic manufacturers carry an average of about a 60-day supply of new vehicles for sale. Import manufacturers, even transplants with North American assembly plants, still have long, cross-ocean supply lines and typically have held an inventory of vehicles on dealer lots and in-transit from assembly plants of a much smaller number, say 30 to 45 days. And the inventory, in terms of days to sell at current retailing rates, is even smaller for hot sellers.

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Toyota’s June Sales Slide. The Japanese Big Three Tread Water as U.S. Auto Market Contracts

Honda, Nissan are not closing gap with the retail sales leader.

by on Jul.01, 2010

Camry is still the sales leader.

Toyota Motor Sales (TMS), U.S.A. today reported June 2010 sales of 140,604 units, down from 162,813 last month. Fewer than 12,000 of those sales were from fleet sales.

American Honda Motor Company posted June sales of 106,627 vehicles, an increase of 6.2%.

Nissan North America, Inc. (NNA) reported June sales of 64,570 units versus 58,298 units a year earlier, an increase of 10.8%, compared with June 2009.

Industry passenger cars sales grew at an estimated 9%; trucks at about 20%.

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Insight!

Toyota sales were up 6.8% compared with the year-ago month when Toyota was benefitting from the collapse of Chrysler and General Motors. That was also well before Toyota’s subsequent recall of millions of vehicles for unintended acceleration problems, though, which are now implicated in the deaths of 89 people and the subject of hundreds of lawsuits. Toyota says it has repaired 4 million vehicles for various recalls so far this year, and its Lexus Division is facing at least one more. (See Toyota to Recall 270,000 Lexus Models for Stalling)

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