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Posts Tagged ‘vehicle sales’

May Auto Sales Decline Due to Fewer Selling Days

Transaction prices remained strong during month.

by on Jun.01, 2016

Fiat Chrysler posted a 1% sales increase, led by the 14% jump in Jeep sales last month. FCA is one of just a few that posted improved sales results.

Sales of new vehicles weakened somewhat during May as Fiat Chrysler posted a small increase while sales by most other automakers, including Ford, General Motors, Toyota and Nissan declined during the month.

Audi also bucked the trend, eking out a small increase despite the challenging calendar that left carmakers with two fewer sales days during the month. Sales slid even though the tempo of transactions remained brisk and pricing held steady as sales of trucks, vans and utility vehicles continued to boom.

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FCA US said sales increased by 1% compared with sales in May 2015: the group’s best May sales in 11 years thanks to strong truck sales. (more…)

With a Few Exceptions, Automakers Deliver Another Strong Month

Transaction prices set all-time record.

by on Apr.01, 2016

Nissan set a new record for March sales with this year's tally. Overall, sales were up across the board for automakers last month.

While there were a few signs of weakness, the U.S. auto industry managed to keep its sales momentum going in March, the industry delivering a number of new records, notably including the price American buyers paid for their new vehicles last month.

Though industry giants Toyota and General Motors ran into some strong headwinds, delivering only modest, year-over-year increases, other automakers, including Ford, Fiat Chrysler and Honda, posted strong gains for March, Nissan sales reaching an all-time record. Audi, among European makers, reported its 63rd consecutive monthly increase even as the sibling Volkswagen brand continued to feel the impact of its diesel emissions scandal.

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The strong industry performance continued to reflect a surge towards SUVs, crossovers and other light-truck models that now collectively account for about three of every five vehicles sold in the U.S., with little indication recent rises in fuel prices will slow that momentum. (more…)

Analysts Revising Auto Sales Predictions Upward

Consumer confidence helps keeps sales pace strong.

by on Sep.28, 2015

Analysts have revised their new vehicle sales estimates for 2015 upward as consumer confidence remains high.

Despite uncertainty in the global economy, the U.S. auto industry continues to motor along at a steady clip.

As a result of the vigorous selling pace during the spring and summer months — the selling rate from May through August averaged 17.5 million units — LMC Automotive is raising its 2015 total light-vehicle sales forecast to 17.2 million units from 17.1 million units and its retail light-vehicle forecast to 14.1 million units from 14 million units.

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In addition, analysts at Moody’s now predict sales of new cars and trucks will increase by 2.4% in 2016 after growing by 2.8% in 2015. (more…)

Lexus Tops Mercedes, BMW in July Luxury Battle

Japanese luxury brand looking to regain top spot in segment.

by on Aug.03, 2015

The 2015 Lexus NX 200h is helping the brand return to the top of the luxury sales charts.

Lexus beat out its archrivals Mercedes-Benz and BMW in sales during July, setting the stage for all out battle royale for leadership in luxury vehicle sales during the next five months.

The German brands have held the lead in luxury car sales since 2011 but Lexus, which has long been focused on the U.S. market, is making a determined challenge this year.

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Lexus reported July sales of 29,816 units, up 9.1% from July 2014 on a volume basis and DSR basis, according to Jeff Bracken Lexus group vice president and general manager. (more…)

Luxury Utilities, Crossovers Push July Auto Sales to New Heights

Month finishes near 18-million-unit sales pace.

by on Aug.03, 2015

Small crossovers did well in July and so did Buick, which posted an 18% sales increase led by the Encore.

New vehicle sales remained robust as carmakers continued to post year-over-year gains in a market where the seasonally adjusted annual rate of sales, or SAAR, inched towards 18 million units.

General Motors, Chrysler, Ford, Nissan, Lexus, Audi, Subaru and Volkswagen all posted sales increases for July as the industry sales continued at their best tempo in more than a decade.

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GM posted a 6% increase, which included the best July results for the maker’s four brands combined since 2007. The month was paced by an 18% increase in Buick sales and an 8% increase in Chevrolet sales. Chevrolet’s results included a 24% increase in pickup, van and SUV sales, and the brand’s best July crossover sales ever.  (more…)

April Showers Automakers with Demand for Trucks, Crossovers

Many makers setting new records during the month.

by on May.01, 2015

Ford President Joe Hinrichs is thumbs up with good reason: F-150 sales were up 8% in April, helping Ford to a 5% jump for the month.

April showers resulted in a surge of buyers looking for new trucks and crossovers, which benefitted the bottom lines of nearly every automaker.

Ford finally broke out of something of a sales slump in April as it posted a 5% sales increase and General Motors, Fiat Chrysler, Nissan, Toyota and Audi all reported gains as sales of new vehicles boomed with the beginning of spring.

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The Dearborn, Michigan-based company said retail sales in April were the best in nine years. (more…)

Automakers Relish Sales Surge in March

Sales rate pushes past 17 million units.

by on Apr.01, 2015

Dodge Dart sales were up 56% in March, helping FCA to a 2% monthly increase in March.

Despite some difficult year-to-year comparisons, automakers continued to post strong sales in March as the estimated seasonally adjusted annual rate exceeded 17.1 million units.

FCA US, the former Chrysler Group, posted a 2% increase compared with sales in March 2014 and the group’s best March sales since 2007 as its long streak of month-over-month sales increases reached 60. But Toyota posted a 4.9% sales increase tightening its grip on second place in U.S. sales just behind General Motors.

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GM, Ford and Nissan posted modest decreases of between 2 and 3%. Ford’s retail sales were the best in nine years but its fleet sales dropped 13%. GM and Nissan also posted healthy truck sales, but were hit by the weakness in passenger car sales. (more…)

Automotive Loans at All-Time Highs

Rising new vehicle sales expected keep totals rising.

by on Feb.20, 2015

There are $866 billion outstanding vehicle loans in the U.S.: an all-time high.

Americans owe more money for new and used cars than ever: $866 billion, according to Experian Automotive.

That’s the outstanding loan balance for vehicles in the U.S. and not only have Americans borrowed more than ever for cars, the average length of new car loans is a record-high 67.2 months – almost six years.

It’s not entirely surprising as new cars are being sold for their highest prices ever, according to TrueCar.  The average transaction price for new cars in 2014 was $31,831. Next year it’s expected to surpass the $32,500.

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Also it’s well-documented that lenders have loosened up their requirements, which certainly played a role in the record loan number, but only in the sense that sub-prime and deep sub-prime buyers were give more loans – like everyone else. (more…)

Automakers Reap Benefit of Better Mileage, Low Fuel Prices

Fuel economy improves as truck sales ride high.

by on Aug.06, 2014

UMTRI notes that despite the increase in sales of large vehicles, like the F-150, fuel economy levels continue to improve.

Automakers are maximizing the sweet spot in mix of sales, fuel economy and gas prices – bigger vehicles getting better gas mileage as fuel prices drop – and enjoying robust sales as a result.

Fuel economy trends continue to improve despite the continuing surge in the sales of light-duty trucks and sport utility vehicles. Meanwhile gasoline prices continue to decline as the end of the summer driving season looms.

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The University of Michigan’s monthly measurement of the efficiency of new vehicles sold in the U.S. during July fell just shy of the all-time high, according to researchers at U-M’s Transportation Research Institute (UMTRI).  (more…)

Auto Sales Jumping as Banks Loosen Credit Reins

Despite rise in subprime lending, defaults at near-record lows.

by on Jul.31, 2014

Banks have loosened the credit lines and as a result auto sales are booming in 2014.

It’s becoming clear that one of the primary reasons that new car sales are booming this year is that Americans are able to more easily get credit to finance their purchases. The total amount of outstanding auto loans has increased by 10% in 2014.

According to Equifax and its National Consumer Credit Trends Report, there is $902.2 billion in outstanding auto loans, which is a new record.

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“Auto lending continues to thrive, accounting for more than 50% of all new non-mortgage lending through April of 2014,” said Dennis Carlson, Deputy Chief Economist at Equifax. (more…)