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Posts Tagged ‘new car sales’

First Drive: 2018 Honda Accord

Maintaining the gold standard.

by on Oct.06, 2017

Honda's new 2018 Accord is designed to attract younger buyers, according to designers.

Someone at Honda is trying to send a message about the 2018 Honda Accord.

Why else would the automaker show the latest version of their bread-and-butter midsize sedan, at the hotel that played host to the Bretton Woods International Monetary Conference in 1944? It was at this remote resort nestled in the White Mountains where representatives from 44 countries hammered out the Bretton Woods Agreement, which created the International Monetary Fund and the World Bank – two institutions that are still with us. Notably, it also propped up the failing gold standard with much help from America, although even the U.S. abandoned it in 1971.

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Nevertheless, the concept of a product being the gold standard among its competitors is very real, rendering Bretton Woods the perfect venue for Honda to reveal the redesigned 2018 Accord. And while you could call this 10th generation Honda the Bretton Woods Accord, by any measure, it’s the gold standard among midsize sedans. (more…)

U.S. New Vehicles Sales Rebound in September

Compact crossovers selling big as hurricane ravaged areas recover.

by on Oct.03, 2017

General Motors saw said Chevrolet Colorado's were blowing out of dealerships in September.

New vehicle sales boomed in September with General Motors, Toyota and Volkswagen all reporting double-digit gains as the regions of the U.S. battered by storms at the end of the summer began to recover and sales of compact crossover vehicles soared.

GM posted a 12% year-over-year increase in total sales in September, including a 17% increase at Chevrolet and an 9% increase at GMC.

Industry News!

“Our new crossovers from Chevrolet, Buick, GMC and Cadillac have been very well received and Chevrolet had an outstanding month with the Silverado and Colorado,” said Kurt McNeil, U.S. vice president of Sales Operations. “We are entering the fourth quarter with strong momentum, great products and a healthy economy.” (more…)

New Car Sales Continue Downward Spiral in July

Toyota, Lexus, Audi and Acura managed to buck the trend.

by on Aug.01, 2017

Mustafa Mohatarem, GM's chief economist, predicts the second half of the year will be stronger than the first half has been.

The drop in new vehicle sales accelerated and deepened in July as General Motors and Fiat Chrysler Automobiles N.V. reported double-digit dips in sales and Ford, Nissan, Honda and Volkswagen also reported sales declines for the month.

Only Toyota, Lexus, Audi and Acura registered increases.

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GM’s July total sales were 226,107 vehicles, down about 15% from strong levels last year, said GM, which also said the drop represented a strategic retreat by the company. (more…)

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…)

New Vehicle Sales Take a Tumble in April

Buyers not taking incentive bait portends down year.

by on May.02, 2017

Auto sales took a hit in April as even higher-than-normal incentives couldn't draw buyers to dealerships.

With the industry on a steady decline, 2017 appears to be on track to be the first down year since the industry emerged from the Great Recession.

Sales of new vehicles suffered a bigger drop than expected during April, as General Motors, Ford Motor Co. Fiat Chrysler Automobile N.V., Toyota and Nissan all reported sale drops as consumers appeared to become more resistant to record incentives.

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The decline in sales among top-selling brands sets up the industry for a sales drop in 2017. It would be the first year that sales of new vehicle sales have declined since the great recession and reflects the weaker than expected economic numbers that were reflected the U.S. Commerce Department’s estimate the U.S. economy grew by less than 1% in the first quarter. (more…)

March Sales Coming in Like a Lion

Analysts predicting sales increase of more than 2%.

by on Mar.27, 2017

Trucks are still paving the way for strong sales in the U.S. these days. March is expected to see a significant jump in new vehicle sales.

Even with concerns about rising interest rates and downward pressure on used car prices, making leases more expensive, auto makers are expected to post a sales increase for March, analysts said.

The auto industry will see its first year-over-year monthly increase of 2017 as March retail sales are expected to rise 2.4%, according to a forecast developed jointly by J.D. Power and LMC Automotive. Total sales are expected to increase 1.6%. J.D. Power and Kelley Blue Book expected that the seasonally adjusted rate of annual sales will reach 17.3 million units to 17.4 million.

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However, the sales increase will come at a price as incentives were running at a record level of $3,768 per unit, the highest level since the recession of 2009. Incentives as a percentage of manufacturers suggested retail prices reached 10.4% in March, which is also the highest level since 2009 when the topped 11% of MSRP, Power noted. (more…)

Most Makers Post Positive February Sales Results

Despite strong transaction prices, concern growing over rising inventory levels.

by on Mar.01, 2017

Volkswagen posted another monthly sales increase with February's 12.7% rise. The Golf family led the way with a 60.3% jump.

Steady gains by General Motors, Nissan and Audi helped keep the industry’s sales momentum rolling during February, however, not all the makers enjoyed improvements as Ford Motor Co.’s and Fiat Chrysler’s sales slipped.

GM reported record sales of crossovers, large SUVs and pickups in February, bolstering the company’s retail market share, which was up more than one-half percentage point versus a year ago. Average transaction prices, which reflect what customers pay after sales incentives, also set a February record.

Sales News!

“Our retail-focused go-to-market strategy is delivering robust results,” said Kurt McNeil, U.S. vice president, Sales Operations. “All of our brands grew their average transaction prices by healthy amounts, and we delivered solid growth in the industry’s fastest-growing and most profitable segments.” (more…)

US New Car Sales Expected to Rise Slightly in February

Incentives climbing as makers seek more buyers.

by on Feb.24, 2017

New vehicle sales in February are expected to rise slightly, led by the country's ongoing love of trucks.

February auto sales in the U.S. are likely to follow the same tepid pace from last month’s results when makers saw sales dip ever-so-slightly; however, this month they are expected to rise ever-so-slightly.

Industry consultants J.D. Power and LMC Automotive believe U.S. sales will rise less than 1% in spite of record levels of enticements aimed at new vehicle buyers. February U.S. new vehicle sales will be about 1.35 million units, up 0.6% from a year earlier, the consultancies said. Analysts at Edmunds are seconding the observation.

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The seasonally adjusted annualized rate for the month will be 17.7 million vehicles, up from 17.6 million last February. The Power and LMC expect U.S. sales to eclipse last year’s record of 17.55 million units with 17.6 million in 2017. (more…)

Automakers Get Into the Black Friday Spirit

Deals abound for new car shoppers.

by on Nov.23, 2016

Like many other makers, Mercedes is offering special holiday deals.

Black Friday isn’t just the day to get a great deal on a low-end television or video game system, automakers are fully into the swing of busiest shopping day of the year with a slew of promotions.

Ford, General Motors, Toyota, Lexus and Mercedes are all flooding the airwaves with various Black Friday connected sales as makers look for ways to jumpstart stalled efforts to move metal after months of red-hot sales stalled at the end of the summer.

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“We are seeing a tougher pricing environment, higher levels of discounts,” said Ford Chief Executive Officer Mark Fields reported Reuters. (more…)