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Posts Tagged ‘sales news’

Global Auto Sales Set to Hit Record in 2018

Industry coming tantalizing close to 100 million mark.

by on Feb.16, 2018

Despite sluggish sales in the U.S. and China, global auto sales are expected to set a new record in 2018.

Global auto sales are expected to hit an all-time record in 2018 of 97.3 million vehicles, according to a new forecast by LMC Automotive.

That 2.1% jump over 2017 would come despite a weak market in North America, as well as softening growth in what is now the world’s largest automotive market, China, LMC researchers said during a media conference call.

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The U.S., in particular, posted its first annual decline in vehicle sales since the market hit bottom in 2010, and it remains unclear what will happen in 2018, LMC Managing Director Pete Kelly cautioning that it “could go either way.” (more…)

Toyota RAV4 SUV Outsells Camry Sedan

Maker facing tough task of getting buyers what they want.

by on May.18, 2017

The Toyota RAV4 outsold the best-selling sedan in the U.S. last month: the Toyota Camry.

The shift in consumer preferences from cars, specifically sedans, to trucks and utility vehicles has been an ongoing story for years, although it’s been at the fore since precipitous drop in gas prices a few years back.

Trucks and utes are outselling cars at a rate approaching 60/40 after crossing the 50/50 mark a few years back. Now, automakers are trying to figure out how to handle the growth of ute sales that are driving the new ratio.

Sales News!

In fact, so pronounced is the move that America’s best-selling car for the past 15 years, the Toyota Camry, is now being outsold by the new RAV4. In April, the Japanese automaker sold 329 more units of the little ute than the family sedan. It was the second time this year that it has happened. (more…)

Dismal August May Result in Fall Sales Renaissance

Smaller makers enjoyed strong sales.

by on Sep.02, 2016

Subaru was one of many smaller automakers that defied the trend of sales losses, in some measure due to strong Outback sales.

August was the first tough month for U.S. new vehicle sales that automakers have faced in some time with sales falling 3.5% compared to the year ago results.

General Motors, Ford, Toyota and Nissan all took hits of more than 5% on the month. Honda sales were down 3.8% for August, but the Japanese maker was expected to post an increase of 2.5% by most estimates.

Sales News!

As usual, utility vehicles and trucks sold in big numbers – with the F-150, Chevy Silverado and GMC Sierra being notable exceptions – for automakers while passenger cars continued their long slide out of favor with the buying public. (more…)

New Vehicle Sales Expected to be Flat in July

Many analysts believe sales run peaked last year.

by on Jul.29, 2016

New car sales are expected to flatten out in July, but makers are still tracking for a record year.

New vehicle sales are expected to drop 1% year-over-year to a total of 1.5 million units in July 2016, resulting in an estimated 17.5 million seasonally adjusted annual rate, or SAAR, according to Kelley Blue Book.

The estimate is in line with a growing consensus that sales of new vehicles peaked during the summer and fall of 2015 and the growth of sales has flattened out in recent months. However, the competition for those sales has intensified as the recent furor General Motors use of incentive “increases” revealed.

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Chuck Stevens, GM’s chief financial officer, said the discounts GM offered over the Fourth of July was a “tactic” and not a signal that GM was preparing to make broader use of incentives. (more…)

FCA Denies Pressuring Dealers to Inflate Sales Results

Dealer lawsuit alleges maker offered $20K to inflate numbers.

by on Jan.15, 2016

Fiat Chrysler is denying charges in a lawsuit claiming it offered $20,000 to a dealer to inflate sales reports.

Two dealers are claiming that Fiat Chrysler offered them $20,000 to inflate sales reports, making  it appear the automaker was performing better than it actually was. The allegations were made in a civil racketeering lawsuit filed against FCA.

The suit alleges that the automaker paid some dealers to falsify sales reports to “create the appearance that FCA’s performance is better than, in reality, it actually is.”

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The suit, which was filed in Illinois federal court, comes from two dealers in Illinois and Florida that are part of the Ed Napleton Automotive Group, which was the 31st largest dealership group in the U.S. in 2014, according to Automotive News. (more…)

December Sales Projected to Push Industry Past Record

Auto industry expecting new annual high-water mark.

by on Dec.18, 2015

December auto sales are booming and it's now assumed 2015 will set a new full-year sales record.

The U.S. auto industry is enjoying its best December in years and will easily set a new sales record in 2015, according to new estimates by analysts, who follow the industry sales trends, and the outlook for the coming years looks robust despite the higher interest rates looming on the horizon.

New light-vehicle sales in December are expected to be the strongest of any month since 2005, with 2015 on track to set an annual record with 17.5 million sales, according to a monthly sales forecast developed jointly by J.D. Power and LMC Automotive.

Sales News!

With a strong close, 2015 is expected to set a total light-vehicle sales record of 17.5 million units, topping the previous high the Seasonally Adjusted Annual Rate, or SAAR, will hit the 17.8 million unit mark in December, making December 2015 the fourth best-selling month on record, surpassing the previous December record set in 2004. (more…)

More Like ‘Treat or Treat’ as October Auto Sales Boom

Luxury cars sprinted off dealer lots last month.

by on Nov.03, 2015

The Lexus RC coupe posted strong sales gains in October, helping the brand to a 13.2% increase.

The U.S. auto industry ended October with way more treats than tricks as many makers enjoyed best-ever Octobers as trucks and SUVs flew off dealer lots joined by plenty of luxury vehicles although one brand did take a hit: BMW.

The Bavarian maker is locked in a battle with Lexus and Mercedes for luxury vehicle sales superiority in the U.S. and last month didn’t help its cause as sales fell 3.8% in October. The brand’s utility vehicle held up their end of the bargain, posting a 56.7% gain, but car sales offset those gains.

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“Trends in the luxury vehicle market are becoming more evident with the October sales another indicator of how important Sports Activity Vehicles are becoming to our market segment,” said Ludwig Willisch, President and CEO, BMW of North America. (more…)

October Auto Sales Pushing Previous Records

Low gas prices encouraging truck, sport-utility sales.

by on Nov.03, 2015

Ford saw strong sales in October led, in part, but a significant increase in Ford Edge sales.

U.S. auto sales continue to enjoy a breakneck pace as the early results show automakers only reporting increases during October that could set new records.

GM sales rose 16% with Cadillac, Chevrolet and GMC reporting increases of at least 13%. Buick was the laggard in the group with sales slipping 0.2%.

Sales News!

Fiat Chrysler continued its run of monthly sales increases to 67 consecutive as sales rose 15%, largely due to a 33% increase for the Jeep brand. Ford enjoyed a strong October with a 13% leap, in large measure due to another strong month for the new F-150 full-size pickup truck, which rose 3.3%. (more…)

US Automotive Sales Boom to End in 2017

Tightening credit, more Millennials likely to shrink purchases.

by on Oct.14, 2015

Automakers have at least one more year of robust auto sales, including the likelihood of a new record, before sales begin to slide, according to IHS.

What happens after next year? “Pull back.”

At least that’s the word from IHS Automotive, which believes that U.S. auto sales will continue to strengthen through 2017 until a convergence of events begins to stifle new car and truck sales.

Welcome to the Future!

“We do see headwinds starting to form,” said Charles Chesbrough, IHS senior economist, during the company’s global outlook. (more…)

Makers Basking in Glow of White Hot September Sales

Despite diesel scandal, VW ekes out small gain.

by on Oct.01, 2015

Ford F-150 sales are back on track posting a 16% gain in September, including a 28% jump in retail sales.

With American and Asian carmakers posting double-digit gains, demand for new vehicles continued to expand at a healthy pace during September.

Ford, General Motors, FCA U.S., Toyota, Nissan and Audi reported significant sales increases last month. Somewhat surprising, Volkswagen of America, which suspended sales of its diesel-powered cars after being caught cheating on emission tests, managed a small jump – less than 1% – through the use of incentives.

Sales news!

Ford’s U.S. sales increased 23% in September, providing the company with its best September performance in 11 years. Retail sales increases were broad-based with passenger car sales up 15%, SUVs up 23% and trucks up 29%. (more…)