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Posts Tagged ‘new vehicle sales’

Want a Black Friday Deal? Go to a Dealership, Not a Mall

Save thousands instead of hundreds and sleep in!

by on Nov.22, 2017

Automakers are looking to get your money into the pockets of dealers rather than retails at the mall on Black Friday.

If you’ve watched television in the last two weeks, you know that some shoppers are sleeping in on Black Friday and still saving big money — on new cars, trucks and utility vehicles.

Most shoppers are headed to malls across America the day after Thanksgiving, but automakers are providing new vehicle buyers plenty of reasons to head to the nearest dealership. In fact, the four-day Thanksgiving weekend is a holiday makers target.

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“Black Friday is certainly a great time to go car shopping,” Jennifer Newman, editor-in-chief of Cars.com, said in a statement. (more…)

New Car Sales Expected to be Strong in October

Incentives on the rise, analysts note.

by on Oct.26, 2017

New vehicle sales in the U.S. are expected to be healthy in October despite a small drop.

Sales of new vehicles seem to be on the Goldilocks track in October – not too hot and not too cold – with a modest decline from last month, according to new reports from analysts, but a healthy seasonally adjusted sales rate of more than 17 million units.

Edmunds, the car-buying site, estimates the SAAR will 17.6 million, reflecting a 13.3% drop in sales from September 2017 and a 3.5% decrease from October 2016. Following strong September results, October 2017 is poised to keep up some of the momentum.

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Analysts for Kelley Blue Book estimate that new-car sales will drop 2% year-over-year, sales but are expected to be relatively strong for the industry. Some of the strength can be attributed to replacement demand that continues in Texas and Florida, but perhaps more importantly, higher incentive spend is playing a role, according to KBB — a sentiment shared by others.  (more…)

Auto Industry Survives Storm as August Sales Hold Steady

Hurricane Harvey takes bite out predicted sales.

by on Sep.01, 2017

August new vehicle sales remained steady despite Hurricane Harvey's impact on Texas and Louisiana. Photo credit: Brendan Strong

With the rain from Hurricane Harvey still flooding into dealerships in Texas and Louisiana, new car sales held steady in August as carmakers and analysts assessed the impact of the massive storm.

Analysts initially predicted that August sales would rise as much as 2%, making it the first monthly year-over-year increase in 2017. However, Harvey took out more than a week of sales in Texas, one of the largest markets in the U.S.

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General Motors, Toyota and Audi all reported sales increases for the month, while Ford, Nissan and Fiat Chrysler N.V. said sales dropped.  (more…)

Automakers Expected to See Sales Increase in August

Light trucks expected to lead the way.

by on Aug.25, 2017

New car sales are expected to rise, especially at GM where new utes, like the Chevy Traverse, are expected to see increases.

Sales of new vehicles in August are expected to increase 1.5% year-over-year, snapping a seven-month string in which sales of new cars, trucks and utility vehicles had dropped, according to a new forecast from Kelley Blue Book.

“August should be the first year-over-year increase of 2017, due in part to an extra selling day this month,” said Tim Fleming, analyst for Kelley Blue Book. “This sales improvement would break a seven-month negative streak, the longest since the recession in 2009,” he noted.

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One unforeseen factor, which could alter the forecast, is the impact of Hurricane Harvey, which could disrupt sales in a wide area, stretching across Texas and Louisiana. Texas is the second-largest market for new vehicles in the U.S. and the storm is barreling down on the Houston metropolitan area, one of the largest in the U.S. (more…)

Popularity of Leasing Catching Up With Automakers

Companies seeing profits falling on off-lease cars, newly leased crossovers and sport utes.

by on May.30, 2017

Leasing's popularity may cause automakers problems when it comes to profits in the next few years.

The rise in leasing during the last few years has been one of the drivers of the record sales automakers have enjoyed during that time. However, leasing has its downside and that part of the equation is about to hit automakers — hard.

Three years ago, automakers leased 3.3 million vehicles, accounting for about 23% of U.S. sales to individual buyers, according to Automotive Lease Guide. As long as the vehicles hold their value, this isn’t a problem. In fact, it’s a good thing because it gives automakers a steady stream of higher-profit used cars to sell.

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This is good for cars because they made up about half of vehicles leased at that time. However, now that the popularity of cars has fallen, this is likely to cause problems for the makers. (more…)

Crossover Sales Rage May be Hitting Peak

Analyst believes CUVs will top out at 40% of market.

by on May.26, 2017

The era of the crossover, or ute, is nearly over, according to one analyst; however, not everyone believes that prediction.

The end of the crossover boom could be approaching its peak even as car makers continue to push new models into showrooms, says a top automotive analyst.

As he presented the annual “Car Wars” study, John Murphy of Bank of America Merrill Lynch told the Automotive Press Association that the CUV market share now stands at 35%, but even as new, luxury models enter the segment 40% could be the limit.

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In the past, the “Car Wars” studies pointed to the fact that Asian car makers were generally replacing vehicles in their showrooms with new models at a faster rate than their North American and European models. (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…)

Automakers Hoping Trump Infrastructure Plan Will Stave Off Sales Slump

Demand could rebound, especially for work trucks, says Toyota’s Lentz.

by on May.04, 2017

Toyota's Jim Lentz believes the key to U.S. auto sales rebounding in 2017 is held by Donald Trump and his infrastructure plan.

April’s weak sales numbers have flagged growing concerns that the U.S. auto market is finally set to slide after seven consecutive years of growth.

But at least one senior industry official is betting that the market could rebound if and when President Donald Trump can implement the big infrastructure program he has been calling for.

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“If you get a $1 trillion stimulus, that could add 800,000 units,” Jim Lentz, CEO of Toyota North America, said during a preview of the maker’s expanded technical center near Ann Arbor, Michigan, on Thursday morning. (more…)

Some Up, Some Down as Automakers Report January Sales

Strong consumer confidence yields record for Hyundai, but numbers slump at GM, Ford and Toyota.

by on Feb.01, 2017

Dusting the competition: Ford was down overall, but had a spectacular month for F-Series.

After a robust finish to 2016, new vehicle sales slowed in January, though generally remained healthy enough overall to boost confidence for the coming year.

There has been concern within the industry that 2016 brought a peak to the automotive recovery, with analyst and industry planners watching to see if and when things would begin to cool off. The good news they got was that, with a few exceptions, the new car market appeared to do better than initially forecast – and not only were sales relatively solid but consumers continued buying more expensive products.

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The numbers were decidedly mixed, industry giants General Motors, Toyota and Ford all reporting year-over-year declines for January. But Nissan’s sales were up for the month, and a number of automakers scored new sales records, including Hyundai, Audi and Nissan’s luxury arm Infiniti. Auto industry analysts had been anticipating declines of anywhere from 0.7% to 2.7% — according to TrueCar and KelleyBlueBook, respectively. But even for many of those makers who did suffer sales dips in January, the news wasn’t all bad.

(more…)

New Vehicle Sales Remain Flat in September

Utility vehicles and trucks still leading the way.

by on Oct.03, 2016

Not even the F-Series could save Ford's sales in September: the trucks were down 3% while Ford was down 7.7%.

Sales of new vehicles remained flat during September as domestic manufacturers, General Motors Co., Ford Motor Co. and Fiat Chrysler Automobiles N.V., reported sales decreases as Japanese rivals posted modest increases for the month.

Ford was one of the biggest losers reporting an 7.7% drop in sales. Even sales of the F-Series pickup trucks fell.

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“We continue seeing strong customer demand, especially for vans and pickup trucks, including our all-new Super Duty,” said Mark LaNeve, Ford vice president, U.S. Marketing, Sales and Service.  (more…)