Detroit Bureau on Twitter

Posts Tagged ‘new car sales’

Carmakers Face Tough Test as Market Flattens

Sales expected to fall just short of last year's record.

by on Oct.13, 2016

Honda's John Mendel says there is a chance that automakers will beat last year's record sales.

Manufacturers are eager to roll out new models this fall and even adding more capacity in an effort to gain an edge over rivals.

But they are also facing a highly competitive market where manufacturers are being tempted to raise incentives to protect market share, noted Stephanie Brinley, an analyst with IHS Automotive.

Sales News!

“The market is going to get more competitive and we will see if (companies) fall back into their old practices,” she added. “The easy growth is gone.” (more…)

Buyers Take a Breather as August Auto Sales Slump

Makers hoping for strong September to regain momentum.

by on Sep.01, 2016

New vehicles sales hit the brakes in August as buyers appeared to take a break from the market.

Sales of new vehicles stumbled in August and as a result General Motors, Ford, Nissan and Toyota all reported significant drops sales year over year but transaction prices continued to increase right along with incentives, analysts said.

But Fiat Chrysler Automobiles N.V., which has come under for its reporting methods, said its sales increased 3% last month thanks to a strong showing by the Jeep brand, which continues to win new customers with its sport utility vehicles.

The Journal of Record!

Audi also posted a 2.5% sales increase, but Volkswagen, which has been in year-long sales slump, said its sales dropped 9%. (more…)

Lincoln Nabs Top Spot in Customer Satisfaction Survey

Detroit automakers gaining ground on Japanese, Korean counterparts.

by on Aug.24, 2016

Lincoln is tops on the latest ACSI survey of new vehicle buyers in 2016.

New car buyers are happier with their purchases this year than they were last year and Lincoln is the leader of the pack, according to a new survey from the American Customer Satisfaction Index.

The annual survey shows Lincoln’s approval rating this year – 87 out of 100 – is a 5% improvement over last year’s result. Honda was second with an 86, marking an 8% jump, while Toyota and BMW tied for third at 85. It was a 4% increase for both brands.

Product News!

Often in these types of surveys, luxury brands, such as Lincoln and BMW, sweep the top spots, but this wasn’t the case this year. Claes Fornell, ACSI chairman and founder, said the figures show the gap in consumer perception may be closing between mass-market and luxury brands. (more…)

Have US Auto Sales Hit Their Peak?

Several key analysts dial back their forecasts.

by on Jul.12, 2016

While no one's predicting a major downturn, some analysts are dialing back their auto sales forecasts.

It wasn’t supposed to be nearly as good a ride. Coming out of the Great Recession, which saw U.S. auto sales plunge to their lowest level in more than half a century, industry planners had expected to see only a modest recovery. But consumers defied expectations and raced to showrooms in record numbers.

Now, however, the good times may be over. While no one appears ready to predict another major downturn, several key analysts are dialing back on their sales forecasts for the coming years.

A Look at the Future!

While the industry’s current, modest growth, “may go into part of next year, we’ve peaked,” said Dave Sullivan, a senior automotive analyst with the consulting firm AutoPacific, Inc. There are signs that much of the market has “already” leveled off, said Sullivan. (more…)

Auto Sales Outlook is Strong for Second Half

Despite positives, some traditionally strong players suffered losses.

by on Jul.05, 2016

Nissan is enjoying a nice surge in sales during the first half of 2016, in part due to its new ads and in part due to an improving economy.

A full range of manufacturers such as Ford, Fiat Chrysler, Volvo, Jaguar Land Rover, Nissan, Kia and Honda posted strong results for the first and while the year-over-year sales increases have slowed dramatically overall, the industry is still expected to set a new all-time sales record by the end of the year.

Stephanie Brinley, an analyst of IHS Automotive, said IHS has seen no reason to change its forecast of total sales for 2016. IHS expects sales of 17.64 million units, which would be a new all-time record.

News Now!

At the same time, average transaction prices continue to creep upwards despite an increase in incentive activity, which was evident during the Fourth of July Holiday as manufacturers such as Mercedes-Benz and Buick advertised deals. (more…)

Shoppers Could Be in For Bargains: Slow Sales Mean Rising Incentives

Chevy promotions aimed at regaining lost market share, building demand.

by on Jun.06, 2016

A sluggish May for automakers may have kickstarted a rush of incentives to keep the good times rolling.

Bad news for the auto industry could mean good news for U.S. car buyers.

With only a few exceptions, automakers took an unexpected tumble in May, and Chevrolet is rolling out big new incentives aimed at rebuilding momentum and regaining lost market share. Industry analysts are expecting to see even more givebacks as the industry fights to retain the record sales pace set early this year.

Sales News!

The goal is to “get dealers and customers excited,” said General Motors spokesman Jim Cain. The new Chevy incentives will cover the big Silverado pickup, as well as most of the brand’s passenger cars. The announcement follows a weak May for GM that continued the steady decline in market share it has seen all year. (more…)

US New Vehicle Sales Soar to Near-Record Levels

Makers still blowing trucks and utes out dealership doors.

by on May.03, 2016

Ford's SUV sales in April were red hot with the Explorer up 22% for the month.

Any concerns about a possible weakening for new vehicle sales this year have been set aside by strong demand for trucks and utility vehicles at near record levels last month.

Hungry buyers helped boost sales and transaction prices in April with Fiat Chrysler, Ford, Nissan, Toyota and Audi all posting sales increases for the month. Unsurprisingly, Volkswagen sales continued to slide, but General Motors’ drop overall sales was a surprise.

The Journal of Record!

Ford reported its sales increased 4% versus a year ago and retail sales also grew 3%, driving the company’s best April retail results since 2006.  (more…)

Analysts Lowering Expectations for 2016 Auto Sales

Retail sales softening a bit, but fleet sales offsetting.

by on Apr.22, 2016

Analysts warn that retail sales may be softening, causing them to temper their estimates for 2016 retail sales.

Total light-vehicle sales in April are expected to increase 1% on a selling-day adjusted basis from a year ago, marking the strongest total sales in April on record, according to a new estimate from J.D. Power.

However, based on the modest growth exhibited year-to-date, LMC Automotive and J.D. Power are reducing their retail light-vehicle sales forecast for the year to 14.3 million units from 14.5 million units. The revised full-year outlook is a 1% increase compared with 2015, when retail new-vehicle sales totaled 14,245,231, which made it the best retail sales year since 2001.

News Now!

While the full-year retail forecast has been revised downward, LMC Automotive expects those retail sales to be recouped through increased fleet sales. (more…)

Forget Stereotypes; Millennials in a Car-Buying Frenzy

One in four set to buy a vehicle over the next 12 months.

by on Apr.08, 2016

Millennials may be more interested in buying cars than the auto industry has realized.

Conventional wisdom suggests that Millennials are all moving to urban centers, buying bikes and giving up their drivers’ licenses. But, like so many other popular perceptions, that’s not quite on target.

If anything, studies suggest that as Gen-Y ages, members of this tech-savvy generation are heading back to the suburbs, starting families and, yes, even buying cars. Indeed, new research by finds Millennials more likely to buy a car than any other age group over the coming year.

Subscribe Now!

“The notion that Millennials are not interested in buying a car is being turned on its head,” said Mike Cetera, Bankrate’s personal loans and credit analyst. “This is starting to shift from what we’ve seen before.”


Luxury Car Sales War Heating Up

BMW cedes lead to Mercedes-Benz, Lexus.

by on Apr.04, 2016

BMW ceded the lead to Mercedes-Benz in U.S. luxury car sales after a 12.5% drop in March.

This story contains corrected information.

In the rush of numbers, the auto industry released as it reported its March sales numbers, a couple of things stood out, while underscoring the new intensity in the luxury market.

BMW reported a 12.5% drop in sales and Mercedes-Benz also reported a sales drop of 5.9% and Lexus, Toyota’s luxury vehicle division, took over the leadership in the luxury segment despite watching its sales drop 2.8% last month.

News Now!

Among the German high luxury brands, only Audi continued to roll forward with its 83rd consecutive month of sales increases. (more…)