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Posts Tagged ‘U.S. Auto Sales’

US New Vehicle Sales Continue to Tumble in June

Domestic makers take it on the chin.

by on Jul.03, 2017

While GM sales were down 4.7% for June, its wildly popular crossover, the Equinox, saw sales jump 36%.

Sales of new vehicles continued to sputter in June with General Motors, Fiat Chrysler and Ford reporting sales declines while rivals such Toyota, American Honda and Nissan posted meager gains as the industry struggled to match last year’s record pace.

Fiat Chrysler Automobiles N.V. reported sales dropped 7% in June compared with sales in June 2016. Much of the decline could be traced to a decline in sales of Jeep-brand products. With key model changeovers underway, Jeep sales dropped 11% in June and are down 13% during the first half of 2017. So far this year, FCA sales have dropped 7%.

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In June, retail sales of 139,947 units were down 5% compared with the same month in 2016, and represented 75% of total sales. In line with FCA’s strategy to reduce sales to the daily rental segment, fleet sales of 47,401 units were down – as expected – 15% year over year. The largest planned volume reduction in June fleet sales came from the Jeep brand, which reduced its fleet sales number by 49% year over year. (more…)

GM Adds to Growing List of US Auto Jobs Cuts

Weakening car sales could boost total.

by on Jun.01, 2017

As many as half of the workers at GM's Warren, MI transmission plant could be idled.

General Motors said Thursday that it will eliminate one of two shifts at a transmission plant in Warren, Michigan. The announcement is expected to put about 300 workers on indefinite layoff, or roughly half the plant’s total hourly workforce.

The move comes at a time when U.S. new vehicle sales are faltering after three record years – GM also on Thursday reporting its May numbers were off about 1% compared to year-earlier sales. The decline has been especially severe on the passenger car side of the ledger, as millions of Americans shift from sedans, coupes and sports cars to SUV, crossovers and pickups.

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GM already has been responding by trimming production of slower-selling vehicles, such as the Chevrolet Malibu, so “Recent actions to reduce passenger car production have caused us to adjust transmission production,” the maker said in a statement.

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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…)

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.

By the Numbers!

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…)

US New Vehicle Sales Expectations Falling for 2017

Used car availability giving buyers lower-cost alternatives.

by on Dec.20, 2016

Midsize car sales are expected to drop the most in 2017 as overall sales are expected contract.

The outlook for new car sales is getting growing a bit dimmer, according to one organization.

The U.S. light vehicle market will contract 1.8% in 2017, said BMI Research in a new report, which is a downward revision from the organization’s previous expectation of a 1% decline.

The Journal of Record!

BMI notes that a growing used vehicle inventory is adding to the pressure of a market that is already reaching a natural plateau helping to drive down any increase in new vehicle sales. (more…)

October US Auto Sales Hit the Skids

Ford delays sales report due to fire at headquarters.

by on Nov.01, 2016

Jeep sales had been reliably strong for FCA during the past few years; however, they fell 7% in October.

The tempo of new vehicle sales slowed during October as every major automaker reported a drop during October.

Ford Motor Co., which also was expected to report a drop in sales, delayed the release of its October sales due to a fire in an electrical substation in the company’s headquarters in Dearborn, Michigan. The fire, which happened yesterday, caused the evacuation and closure of the building.

Sales News!

The big surprise was a 10% drop in sales by FCA, which had posted a long string of sales increases, stretching back more than five years until it had to re-state its sales figures this summer under pressure from lawsuits by dealers and Securities and Exchange Commission. (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.

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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…)

New Vehicle Sales Regain Some Momentum in June

Industry back on track for record year.

by on Jul.01, 2016

The introduction of the revived Honda Ridgeline pickup truck helped the maker to a sales increase for the company in June.

Sales of new vehicles held steady in June after taking an unexpected slump the month before, with several automakers posting the sort of incremental gains that kept the auto industry pointed towards another record year.

Fiat Chrysler Automobiles, Ford Motor Co., Nissan and Honda all reported sales increases. But Toyota reported a 5.6% drop in sales, its Lexus brand off by 1.3%. It was a split decision for several makers, the Honda brand up, its Acura luxury marque losing 27%. And while Volkswagen continued to feel the effects of its diesel scandal with a 22% decline, its Audi arm scored its 66th consecutive monthly sales gain.

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The industry, overall, was expected to ring up to a record $51 billion in new vehicle sales for the month, in part by “maintaining a reasonably disciplined approach to incentive spending as the overall pace of sales expansion moderates,” said Oliver Strauss, chief economist for data tracking firm TrueCar. (more…)

Global Auto Sales Expected to Set New Records

Small crossovers, utes expected to lead sales charge.

by on Jun.20, 2016

Small crossovers, like the Fiat 500X, will drive sales to new records globally, according to BMI Research.

Global autos sales are still expected to show a marked improvement in 2016 and the boom in auto sales should continue into 2017 as consumers globally continue to snap up small crossover vehicles, according to a new estimate from BMI Research.

Sales of new vehicles worldwide are growing 3.4% compared with 1.9% in 2015, BMI reported.

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For the most part, developed states are continuing to drive this growth, particularly in North America and Europe, according to the report. (more…)