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Posts Tagged ‘May auto sales’

Ford Outsells GM in May on Strength of Fleet Sales

GM has been weaning itself of the bulk sales for some time.

by on Jun.01, 2017

Ford sales chief Mark LaNeve said beating GM in monthly sales, as the automaker did in May, "feels good for about 10 seconds and then we move on."

While the overall results for new vehicle sales last month weren’t particularly surprising or impressive, there was a noteworthy result: Ford Motor Co. sold more vehicles in May than General Motors.

Not Ford outsold Chevy, but all of GM.

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Ford said May sales rose 2.2% from a year ago to 241,126 units while GM sales dropped 1.3% to 237,364. Mark LaNeve, Ford sales chief, noted the shift earlier today, adding when Ford tops GM, which is not often, The reason is very simple: fleet sales. (more…)

US Auto Sales Remain Flat in May

Crossovers and small utes still leading the pack.

by on Jun.01, 2017

Ford Sales VP Mark LaNeve said the company's May sales were up on the strength of its SUVs and trucks.

Strong sales of crossover and sport utility vehicles and trucks, kept the industry anchored during May as overall sales stayed flat with General Motors, Fiat Chrysler Automobiles N.V. and Toyota posting small declines and Ford, Nissan and Volkswagen/Audi posting modest gains.

GM’s May total sales were 237,364 vehicles, which is down 1% from last year, largely due to a 36% drop in fleet sales. However, the company’s U.S. retail sales of 191,388 vehicles, up slightly from last year. GM’s May retail performance was driven by exceptionally strong crossover sales at Chevrolet, Buick, GMC and Cadillac.

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“As we see the industry shift to more crossovers, we are extremely well positioned to take full advantage of this dynamic,” said Kurt McNeil, GM’s U.S. vice president of Sales Operations. (more…)

April Showers Aren’t Bringing May Auto Sales in the US

Monthly sales expected to remain flat compared with last year.

by on May.25, 2017

May auto sales in the U.S. are expected to remain flat despite plenty of incentives aimed at luring buyers into to showrooms.

New vehicle sales are expected to remain flat year-over-year during May at a total of 1.53 million units in May 2017, resulting in an estimated 16.7 million seasonally adjusted annual rate, according to analysts at Kelley Blue Book.

“We could see a positive month for the industry for the first time this year in May, but Kelley Blue Book expects totals to finish about even year-over-year, despite one extra selling day in 2017,” said Tim Fleming, analyst for Kelley Blue Book.

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“Retail numbers for May are expected to finish strong, however they continue to be supported by considerable incentives and lease subvention. In recent months, leasing appears to be reaching its peak, which is expected, given declining residual values, which is contributing to this year’s slowing sales,” he said. (more…)

Strong Holiday Weekend Needed to Eclipse Sales from Last May

Analysts warning that auto sales are flattening out.

by on May.20, 2016

Ford's SUV sales in April were red hot with the Explorer up 13%. They'll need a repeat performance in May to keep sales predictions on track for 2016.

Automakers are counting on strong new-vehicle sales over the Memorial Day holiday weekend to give May sales the boost needed for a moderate increase over 2015 results, according to a monthly sales forecast developed jointly by J.D. Power and LMC Automotive.

New-vehicle retail sales in May are expected to increase by a modest 2% from a year ago on a selling-day adjusted basis, but the actual sales totals will drop year over year, according to the forecast.

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The final figures for the month will depend on the Memorial Day weekend, which historically is one of the best sales weekends of the year at car dealerships across the country, Power’s analysts noted. However, there are two fewer selling days than there were in 2015 when strong sales in May led to strong sales through the summer and fall. (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.

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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…)

As Weather Warms, May Auto Sales Sizzle

Buyers come out in droves for new vehicles.

by on Jun.02, 2015

The Mercedes-Benz C-Class led the brand to an 11.1% sales increase in May.

While May auto sales were expected to be strong, the overall thought was that sales would be down a bit due to one less selling day; however, new car buyers came out in force and, in the process, ensured several sale streaks remained intact.

The early predictions called for overall sales to drop 1%, but several estimates have them coming in as high 1.5% over the previous May’s results.

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Four automakers extended runs of consecutive months of increased sales in May: Fiat Chrysler with 62 months, Audi at 53 months, Subaru with 42 months and Mercedes-Benz, which has a much shorter streak of just five months. (more…)

Spending on New Cars Hits All-Time High, Even as Loans Stretch to Record Lengths

Average transaction prices up 4% in May.

by on Jun.02, 2015

Buyers filled the showrooms of car dealers and added to the bottom lines of automakers in May.

While May might not have brought the big uptick in sales we’ve seen in recent months, preliminary data suggest that automakers took in record revenues, with the average transaction price of new cars, trucks and crossovers sold last month climbing by at least 4%.

All told, U.S. buyers spent a record $52 billion for their new vehicles in May, in part, due to a sharp, year-over-year decline in incentives, according to several firms that track monthly sales data. A separate study suggested that motorists are covering those higher costs by stretching their loans out longer than the industry has ever seen, an average 67 months.

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“New vehicle sector and segment preference indicates consumers are confident about the economy and their finances,” said TrueCar President John Krafcik. “Not only are these shifts to premium brands and utilities telling from an economic indicator standpoint, they signal sizable revenue gains automakers should reap this year.” (more…)

Trucks, SUVs, Crossovers Lead Sales Pack in May

Sedans take a hint as buyers still want big vehicles.

by on Jun.02, 2015

The 2015 Chevrolet Silverado is selling well for GM. The maker's "three truck" strategy helped the maker to a May sales increase.

While the other economic sectors suffered in May, the auto industry continued to post healthy sales in May even as sales showed sales leveling off at seasonally adjusted annual sales rate or SAAR of nearly 17 million units.

The domestic carmakers, Fiat Chrysler and General Motors, posted sales increases as did Infiniti, and Volkswagen, which has taken its share of lumps for its poor sales performance during the last two years.

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FCA US reported a 4% increase compared with sales in May 2014, making it the group’s best May sales since 2005. The Chrysler, Jeep and Ram Truck brands each posted year-over-year sales gains in May compared with the same month a year ago. The Chrysler brand’s 32% increase was the largest sales gain of any FCA brand during the month. The group extended its streak of year-over-year sales gains to 62 consecutive months, Chrysler officials said. (more…)

New Vehicle Sales Booming in May, Tracking for 17 Mil

Sluggish April being offset by this month’s results.

by on May.22, 2015

Sales in May are outperforming expectations, led in some measure by strong SUV and truck sales.

The economic “showers” that slowed new car sales in April are resulting blooming results in May as new vehicle sales are exceeding expectations thus far this month despite the slow tempo of economic growth in the U.S.

“The industry continues to outperform prior-year levels with respect to retail sales and transaction prices,” said John Humphrey, senior vice president of the global automotive practice at J.D. Power.

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Total light-vehicle sales in May 2015 are projected to reach 1,591,100, a 3% increase on a selling-day-adjusted basis compared with May 2014. Fleet volume is expected to hit 290,500 units, accounting for 18.3% of total sales, up from 17.6% a year ago. (more…)

Rising Sales Matched by Rising Fuel Economy in May

Sales hit 16.8 million rate while fuel economy improves too.

by on Jun.09, 2014

Ford's F-150, along with other full size trucks, have had banner sales in May and improved gas mileage.

Despite brisk sales of trucks and utility vehicles, the fuel economy of new vehicles purchased by American cars sales continued to climb in May when the seasonally adjusted annual rate of sales reach 16.77 million units, according to a new study by the University of Michigan.

The average fuel economy of new vehicles sold in the U.S. in May was 25.6 mpg — up 0.4 mpg from the value for April. Gasoline prices have been relatively stable during the last year – averaging around $3.64 per gallon – but are still relatively high by historical standards, according to GasBuddy.com.

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Figures from Gas Buddy show that gasoline prices vary from state to state. The highest prices are currently found in California where prices have once again topped $4 per gallon. The price of diesel fuel is also relatively stable across the United States. Diesel fuel is about 30 cents more per gallon in most places around the United States, except in California where it is only 10 cents per gallon higher, the U.S. Energy Information Administration reports.  (more…)