Archive for the ‘Monthly Results’ Category

Automakers Launch Full-Size Truck Incentive War

Up to $16,000 in givebacks and discounts on some 2018 models.

by on Jun.07, 2018

FCA has some of the largest incentives -- up to $16,000 -- available on its 2018 Ram.

Despite strong demand, US. Automakers have launched some of the most lavish incentives on full-size truck models seen since the end of the Great Recession, with discounts of as much as $16,000.

The move might come as a surprise considering pickups have retained strong momentum despite the weakening of the broader U.S. automotive market over the last year, and the latest round of incentives threaten to cut into the earnings delivered by what are traditionally the most profitable product segment in the market.

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Automakers appear to be acting for a variety of reasons, including the need to clear inventories ahead of the launch of all-new models from both General Motors and Fiat Chrysler Automobiles, as well as the potential weakness of segment leader Ford which lost thousands of units of production due to a supplier problem last month.

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Tesla CEO Musk Survives 1st Big Challenge as Chairman as Model 3 “Quite Likely” to Meet Target

Shanghai, European plants could be announced within weeks.

by on Jun.06, 2018

Tesla CEO Elon Musk beat back challenges to his role, while 3 board members were voted back in.

Elon Musk stared down a group of dissident shareholders on Tuesday, surviving the first serious challenge to his dual role as chairman and CEO of the California automaker, while three of his hand-picked board members also fended off challenges.

Musk, who has developed an almost cult-like following among investors and electric vehicle fans alike, has faced an unusual degree of scrutiny in recent months as a result of mounting losses, struggles with production of the Model 3 sedan and a series of widely reported crashes involving Tesla vehicles. But despite some opposition, the company’s annual shareholders meeting was largely focused on promises about great things to come.

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Musk promised that after months of what the CEO has dubbed “production hell,” the pace is picking up at the Fremont assembly plant and that production will “quite likely” reach his 5,000 vehicle-a-week target by the end of June. Meanwhile, he and members of his senior management team outlined other developments to come, including the launch of additional production plants that could substantially boost global demand.

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May Auto Sales Bring Mixed Results for Makers

Analysts believe month will end positive.

by on Jun.01, 2018

Jeep's 29% sales increase in May led FCA to an 11% jump overall for the month.

Automakers are looking at a mixed bag of sales for May, but when the final tally is recorded, it’s expected to see the industry on the -side of the ledger. Early returns show that domestic makers fared well, while others are more spotty.

Fiat Chrysler Automobiles posted a double-digit sales jump of 11% thanks to big surge in sales by the Jeep brands, where sales went up 29%.

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Ford Motor Co. managed to eke out a 0.7 % sales increase during May. The increase included an 11% in sales of F-Series pickup trucks despite a crippling fire that forced the company to shut down production for more than a week. (more…)

US New Vehicle Sales Bloom in May

Analysts predicting more than 3% jump.

by on May.29, 2018

New vehicles sales are expected to rise 3.1% on year-over-year basis in May, according to analysts.

New vehicle sales are expected to increase during by more than 3% in May, reflecting the strong showing by General Motors and Fiat Chrysler Automobiles N.V., according to new monthly forecasts, but the overall sales rate is falling behind the pace in 2017.

Cox Automotive predicted that overall, U.S. new-vehicle sales in May 2018 are expected to increase 3.1% compared to May 2017. The seasonally adjusted annual rate or SAAR, projected at 16.6 million for this month, is expected to fall to its lowest level since August 2017.

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The Cox forecast 16.6 million SAAR is down slightly from the 16.7 million level in May 2017, and down from the 17.1 million pace the market has been averaging in 2018. (more…)

Toyota Earnings Jump, Despite Rising U.S. Incentives

Record R&D spending could hurt operating profit.

by on May.09, 2018

Toyota CEO Akio Toyoda is not only pushing for automotive sales growth, but leading the company into the emerging mobility sector.

Toyota saw earnings jump 21% between January and March, the final quarter of its fiscal year, despite having to sharply ramp up incentives in a slowing U.S. automotive market.

The automaker reported a profit of 480.8 billion yen, or $4.4 billion, up from 398 billion yen the year before. Toyota’s sales also rose 2% to 7.58 trillion yen, or $69 billion. For the full fiscal year, it earned 2.49 trillion yen, or $23 billion, a 36% increase, with sales rising 6%, to 29.38 trillion yen, or $268 billion.

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The strong performance helped highlight the cost-cutting efforts initiated by CEO and President Akio Toyoda, the grandson of Toyota’s founder declaring, “We’ve become a leaner, trimmer company … and in the past year we’ve developed our remaining fat into muscle, so that we’re in a strong position to be more competitive.”

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Car of the Year? Even Honda Accord Falls into a Black Hole as Sedan Sales Continue to Wither

Slumping sedan sales putting a chill on spring sales.

by on May.02, 2018

It may be new for 2018, but U.S. buyers have had only a tepid response to the latest Honda Accord.

Few recent product launches generated more buzz than the debut of the 2018 Honda Accord. Long one of the U.S. market’s best-selling nameplates, the 10th-generation sedan quickly racked up a slew of awards, including North American Car of the Year.

But despite all the rave reviews, Honda is struggling to retain momentum for the Accord. American motorists purchased just 21,751 of the sedans in April, a 19.3% year-over-year decline. And even when adjusting for the fact that April 2018 had two fewer sales days than the year before, the dip was 12.5 percent. And Honda isn’t alone. The completely redesigned 2018 Toyota  Camry, a Car of the Year runner-up, suffered a 5.0% drop in volume in April.

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“They’re both brand new vehicles and award winners, but I’m not sure that has any impact now,” said Joe Phillippi, head of AutoTrends Consulting. “Consumer tastes are changing. Everybody wants SUVs and CUVs.”

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Wall Street Waiting for Tesla Earnings as Automaker Burns Through Cash

The big question: will Tesla need a new cash infusion?

by on May.01, 2018

Tesla is losing about $6,500 a minute - or about as much as a Model 3 costs in the time it takes to read this story.

Whether you’re someone who sees the glass as half-full or half-empty, there’s plenty to ponder as Tesla prepares to reveal its first-quarter earnings on Wednesday.

The California battery-carmaker saw a big surge in production of its critical new Model 3 during the January to March period – but still fell 20% short of its target. Nonetheless, that was expected to have pushed revenues up 16.5% during the quarter, to $3.14 billion, according to Zacks Consensus Estimates. But with the automaker struggling to get things running smoothly at its Fremont, California assembly plant, quarterly earnings are expected to plunge 153.4%, year-over-year, with Tesla running a per-share deficit of $3.37.

Beyond the Headlines!

Short-sellers seem to be the ones with the biggest smiles these days, as Tesla’s worsening cash burn problem leaves investors wary and worried that the carmaker may soon have to beg Wall Street for money to keep its operations going.

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Automakers Trudge Through Tough April Sales

Rising gas prices, interest rates crimp sales.

by on May.01, 2018

Mark LaNeve, Ford vice president, said F-Series truck sales are still going strong.

New vehicle sales are feeling the pressure from a combination of rising interest rates and higher fuel prices as Ford, Toyota, Nissan and Honda all reported declining sales for April.

Only Fiat Chrysler and Volkswagen appeared to go against the prevailing trend in April, which was also the first month without a sales report from General Motors. The consensus was that GM sales dropped during April.

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FCA reported a 5% increase compared with sales in April 2017. Overall sales were pushed by the Jeep brand which reported record sales for April. Sales of the Ram brand dropped by 9%. (more…)

Carmakers Likely to Report April Sales Declines

Month has two fewer selling days, adding to the slide.

by on Apr.27, 2018

Sluggish sales in the U.S. are expected in April, which has two fewer selling days..

Analysts anticipate a drop in new vehicle sales when carmakers report their total deliveries for April next week.

U.S. new-vehicle sales in April are expected to fall 3.6% compared to April 2017, according to a forecast from Cox Automotive.

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Despite the expected volume decline, the sales pace in the U.S. remains strong, at a seasonally adjusted annual rate (SAAR) of 17.3 million units, above year-ago levels. In April 2017, the SAAR was 17.0 million, Cox analysts noted. (more…)

Ford Suffers, GM Coasts in March Sales in China

Volkswagen posts a sales increased in March.

by on Apr.17, 2018

Strong Malibu sales in March helped GM to a small sales gain of 2%.

Ford Motor Co. saw its sales in China, the world’s largest automotive market, drop by 11% during March, while General Motors eked out a 2% gain as its sales continue to grow.

GM, which will now report its China sales quarterly rather than monthly in the future, said its joint ventures in China delivered a March record of 352,346 vehicles. Buick and Cadillac enjoyed record deliveries in March, while Chevrolet grew 35% from a year earlier, GM said.

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Sales in the first three months of 2018 increased 8% on an annual basis to 986,052 units. (more…)

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