Archive for the ‘Monthly Results’ Category

Tesla Loses $522M in Q1 Despite 3% Model 3 Production Jump

EV Maker produced roughly 63,000 Model 3 vehicles in Q1.

by on Apr.24, 2019

Tesla CEO Elon Musk said delivering Model 3s to Europe was a logistical challenge unlike anything he'd seen before.

Tesla posted a $522 million operating loss on revenue of $3.7 billion during the first quarter of 2019. The loss came despite a 3% increase in Model 3 production, accounting for about 63,000 vehicles.

This improvement in production rate was modest mainly due to changes to the production process for the introduction of new variants of Model 3, fewer working days and a supplier limitation, the automaker noted.

Sales News!

CEO Elon Musk noted that the company struggled with a massive increase in the delivery of Model 3 sedans to Europe. In fact, the completed half of the deliveries during the last 10 days of the quarter, he noted during the earnings call. (more…)

Tough to Find a Good Deal on a New Vehicle? Here’s a few

Best deals on sport-utilities right now.

by on Apr.05, 2019

Looking for a good deal this month: The 2019 Jaguar I-Pace tops the list.

U.S. new car sales fell 5% in March, following the trend for the rest of the first quarter, in part due to rising interest rates on loans paired with falling incentives. In short, buyers can’t find a good deal on a new car, truck or sport-utility.

Fortunately, U.S. News & World Report offers up its monthly “best deals” list, and despite the less-than-ideal conditions buyers are currently dealing with, there are some good deals to be found in April, the editors note.

The Last Word!

“There are some mixed conditions out there for car shoppers,” said Jamie Page Deaton, executive editor of U.S. News Best Cars.  (more…)

Fiat Chrysler Settles False Filings Antitrust Lawsuit

Terms of the deal were not disclosed.

by on Apr.05, 2019

Fiat Chrysler reached a settlement with the U.S. Justice Department about filing false sales reports. The terms of the deal weren't disclosed.

The U.S. Justice Department and Fiat Chrysler Automobiles NV reached a settlement in an antitrust lawsuit about claims the automaker forced dealers to report false sales numbers, hoping to bolster the company’s stock price.

Those allegations spurred a separate federal investigation to determine if information filed with the  Securities and Exchange Commission gave shareholders an overly rosy impression of FCA’s financial situation. Those investigations are ongoing, FCA said. The settlement terms are confidential.

Business News!

The lawsuit, which was filed in federal court in Chicago in January 2016, alleged racketeering, violations of antitrust laws and breach of contract. FCA twice won dismissal of the racketeering claim, but the rest of the charges are headed to trial this year, Bloomberg reported. (more…)

Ford Q1 Sales Fall 1.6% Due to Passenger Car Freefall

Trucks and SUVs stem 23% drop in car sales.

by on Apr.04, 2019

Ford has already upped the production run of the new Ranger due to its popularity. It made a difference in sales during the first quarter.

Ford Motor Co saw sales decline by 1.6% in the first quarter.

But the drop was not as large as those experienced by rivals General Motors and Fiat Chrysler Automobiles N.V. and was concentrated in the passenger car segment, which are continuing to fade in consumer interest.

News You Can Trust!

“As we transition out of passenger cars we expect to see some volatility,” said Mark LaNeve, Ford vice president of sales, service and marketing. “I’m optimistic the year will strengthen.” (more…)

Tesla Suffers Massive First Quarter Sales Drop

Upside is that sales up 110% from year-ago results.

by on Apr.04, 2019

Lower-than-expected Model 3 deliveries in the first quarter sent Tesla's stock tumbling 11% in premarket trading.

Many Tesla watchers were expecting a massive drop in first quarter sales compared with last year’s final quarter, but some were buoyed by a prediction that sales would exceed analysts’ estimates. In the end, both sides were left wanting as the company’s sales dropped 31% and the company’s stock is taking the hit, falling 11% in early trading.

The automaker produced 77,100 vehicles during the first quarter, including 62,950 Model 3 and 14,150 Model S and X. However, it delivered just approximately 63,000 vehicles, which was 110% more than the same quarter last year, but 31% less than last quarter. This included approximately 50,900 Model 3 and 12,100 Model S and X.

News Now!

The 50,900 Model 3 Tesla deliveries was lower than analysts’ average estimate of 51,750, and perhaps more importantly, was lower than the two previous quarters. (more…)

U.S. Auto Sales Hit the Skids in March

Highest interest rates in a decade chase away buyers.

by on Apr.02, 2019

Reid Bigland, FCA head of U.S. Sales, said the industry suffered through a tough first quarter this year.

General Motors, Fiat Chrysler and Nissan all felt the bite from slowdown in sales in the first quarter, while Honda saw sales increase and Toyota held its own as sales of trucks and SUVs remained brisk.

“The industry had a tough first quarter but with spring finally starting to show its face and continued strong economic indicators, such as a boost in housing sales, lower lending rates and a strong labor market, we are confident that new vehicle sales demand will strengthen going forward,” FCA head of U.S. Sales Reid Bigland said.

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“Meanwhile, our Ram brand sales and average transaction prices continue to be strong and our much anticipated, game-changing Jeep Gladiator pickup is on track for its in-market debut this month,” Bigland acknowledged. (more…)

Jeep Plans One Day Sale of Gladiator Launch Edition – and Will Give One Buyer a Year’s Pay to Play

“Go anywhere and live out your dreams,” says brand’s marketing chief.

by on Apr.01, 2019

Jeep hopes to sell 4,190 Gladiator Launch Editions.

With its first pickup in 27 years getting ready to roll into showrooms, Jeep said it will offer a special Launch Edition of the new Gladiator, but only for 24 hours, starting at 12:01 AM on April 4th – what is also known as “4x4 Day.”

The Launch Edition will be a fully loaded version of the off-road Jeep Gladiator Rubicon model and it will carry a steep price tag of $60,815. But to ease the bite – at least for one lucky customer – Jeep will give them “a year’s salary to go anywhere and live out their dreams,” said Scott Tallon, the brand’s marketing manager.

Keep on Trucking!

All told, Jeep will offer a maximum 4,190 of the Gladiator Launch Edition models – a reference to the 419 area code for Toledo, Ohio, where all of the pickups will be assembled.

(more…)

Analysts Predict New Vehicle Sales to Slide 2.1% in March

J.D. Power, LMC Automotive say bad weather, lower refunds are culprits.

by on Mar.26, 2019

U.S. new vehicle sales are expected to fall 2.1% in March compared with the year-ago period.

U.S. auto sales were predicted to fall this year, and due to bad weather, lower-than-expected tax refunds and some mixed economic inputs, March auto sales are expected to help ensure that prophesy comes true.

New vehicle sales will drop 2.1% this month compared with year-ago results, according to industry consultants J.D. Power and LMC Automotive. The pair are forecasting total U.S. vehicle sales of about 1.56 million units in March.

Product News!

Retail sales are expected to hit 1,195,000 units, which is a 3.4% decline. First quarter sales this year will be at their lowest levels since 2013 at about 2.94 million vehicles, and a drop of 4.9% compared with the same period a year ago. (more…)

Infiniti Set to Abandon Western European Market

Weak demand leading Nissan’s luxury brand to focus on Europe, China.

by on Mar.12, 2019

The concept version of the Infiniti Q30 debuted at the Frankfurt Motor Show as part of the brand's push to become an EU presence.

Infiniti has come to recognize there are limits to its global growth plans, the Nissan luxury brand announcing it will pull out of Western Europe by early next year.

Going forward, the brand will limit its scope to just two markets: the U.S. and China. Along with ending sales in Europe, Infiniti also will halt production of the Q30 and QX30 models at Nissan’s assembly plant in Sunderland, England. The parent company has raised questions about the broader viability of that plant as Britain struggles to manage its planned exit from the European Union later this month.

Breaking News!

A broader restructuring by Infiniti will see the luxury marque pair back on its overall product line-up, the brand’s new global CEO told TheDetroitBureau.com during an interview earlier this year.

(more…)

February Auto Sales in China Drop 13.8%

New energy vehicles, i.e. EVs, rose 53.6% last month.

by on Mar.11, 2019

New vehicle sales in China, like the Mazda CX-4, fell during the month of February 13.8%.

Automakers hoping that China might bail them out of sluggish sales in the U.S. are going to be disappointed as sales in the world’s largest market fell 13.8% in February.

The drop is eight consecutive month that China, only just two years ago posting double-digit increases, has seen buyers keep their money in their wallets. Sales fell 16% in January and 13% in December. Overall, 1.48 million new vehicles were sold in China last month, according to the China Association of Automobile Manufacturers.

Business News!

“The trend experienced last year has continued into this year, and the economic situation has also been weak. This has dragged down consumption,” CAAM’s Deputy Secretary General Shi Jianhua told reporters at a news briefing in Beijing. (more…)

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