Archive for the ‘Monthly Results’ Category

Daimler AG Profits Fall as Car, Van Division Sales Drop

Mercedes fails to meet last year's profit, sales marks.

by on Feb.08, 2019

Daimler AG Chairman Dieter Zetsche fields questions from the media during the company's annual earnings press conference.

Daimler AG said its fourth-quarter operating profit fell 22% as trade wars and ballooning costs for developing electric and self-driving cars took a bit out of the company’s profits.

The German automaker’s earnings before interest and tax or EBIT dropped to 2.67 billion euros in the fourth quarter, falling short of analyst expectations of 2.92 billion euros.

Financial News!

Mercedes-Benz said increased tariffs on vehicles imported from the United States to China and delivery stoppages for individual diesel models hit demand and resulted in weaker prices. (more…)

Auto Dealers Get Nervous as Inventory Continues Rising

Sales expected to fall later in year.

by on Feb.06, 2019

Auto dealers are expressing concern about new vehicle inventory levels early in the year.

Car dealers and manufacturers keep a careful watch on inventories and a rising level of unsold vehicles in dealer hands is drawing attention and concern both for the health of the industry and of the overall economy.

The American International Automobile Dealers Association, or AIADA, is reporting that car dealers are beginning 2019 with a heavier inventory of unsold vehicles on their lots, a situation that some analysts say will put pressure on them to push for cuts in factory output as U.S. auto sales are expected to cool this year.

News You Can Trust!

Most forecasts call for vehicle sales to drop to between 16.8 million to 17 million units this year, which is a decline of between 200,000 to 400,000 units from 2018.  (more…)

FCA Debuting Special Anniversary Minivans in Chicago

35th anniversary editions commemorate a major industry shift.

by on Feb.04, 2019

The 35th anniversary edition Chrysler Pacifica.

Fiat Chrysler will roll out a pair of special edition minivans at the Chicago Auto Show later this week to mark the 35th anniversary of the automaker’s original “people-movers.”

Few individual vehicles have had a more dramatic impact on the U.S. automotive market as did the original Dodge Caravan and Plymouth Voyager when they came to market in 1984, instantly clicking with buyers and rapidly spawning an array of competitors.

Beyond the Headlines!

While minivan sales today are running little more than a third of their one-time peak, they still remain a go-to product for millions of American families and, FCA hopes to take advantage of that with the 35th Anniversary Models it will roll out on Thursday at Chicago’s McCormick Place convention center.

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Auto Sales Stabilize in January’s Polar Weather

Cold weather offset by strong incentives.

by on Feb.01, 2019

FCA's Reid Bigland said the automaker had a good "cadence" to sales in January, despite the frigid weather.

This story has been updated with new information.

Despite the government shutdown that neutralized sales in the U.S. Capitol and polar weather in the Midwest, Fiat Chrysler Automobiles N.V. and American Honda reported sales increases for the month of January, while Toyota and Nissan reported that sales dropped.

FCA said its January U.S. sales rose 2% to 136,082 vehicles compared with sales of 132,803 vehicles in January 2018. General Motors and Ford, FCA’s Detroit-based rivals, no longer report monthly sales totals, but on a quarterly basis.

News Now!

“In spite of some frigid January weather, we remain bullish on 2019 given the continued underlying strength of the U.S. economy,” said U.S. Head of Sales Reid Bigland. “We expect a good cadence of new product throughout the year led by our Ram heavy-duty pickup trucks and Jeep Gladiator midsize trucks in the first half of this year.” (more…)

Tesla Misses With Q4 Earnings, Raising New Concerns

Automaker plans to ramp up Model 3 output in bid for bigger earnings.

by on Jan.30, 2019

Tesla's Elon Musk said the company faced significant headwinds in the previous quarter and will continue to do so.

Tesla delivered its second consecutive quarterly profit on Wednesday, but hit by various headwinds, including weak sales in China, the world’s largest battery-car market, the numbers fell well below the Wall Street consensus forecast, triggering a pushback from nervous investors.

The automaker said it would push to boost production of its mainstream Model 3 battery-electric vehicle in the months ahead, but whether that can kick-start momentum remains uncertain, Tesla CEO Elon Musk earlier this week warning that the automaker faces a “very difficult” road ahead, something potentially complicated by a nearly $1 billion bond payment due near the end of the first quarter.

News Now!

Referring to 2018 as “the most pivotal year in Tesla’s history,” the automaker tried to put a positive spin on its Q1 results, noting that sales came in stronger than expected with strong revenues. But the initial response was far from upbeat, despite Tesla shares regaining some of the losses of recent weeks during the regular Wednesday trading session. (more…)

VW Grabs Global Sales Crown – Barely

Renault-Nissan-Mitsubishi Alliance dominates light vehicle segment.

by on Jan.30, 2019

All hail the king! Volkswagen claimed the global sales crown for 2018, but just barely over Renault-Nissan-Mitsubishi.

For the fifth year in a row, Volkswagen Group can again claim king-of-the-hill status as the world’s top-selling automaker.

But there’s an asterisk on the sales charts. For the second year running, the Renault-Nissan-Mitsubishi Alliance narrowly nudged by its German rival to claim leadership in the light-duty vehicle market. Toyota again had to settle into third place, while General Motors slipped into a distant fourth.

News Now!

Volkswagen was able to gain the crown by factoring in its strong light truck sales which helped it reach sales of 10.83 million vehicles in 2018, a 0.9% year-over-year jump. Excluding heavy trucks sold by its MAN and Scania subsidiaries, VW sold 10.6 million vehicles. (more…)

Tesla Strongly Hints at Q1 Loss as Musk Warns of “Very Difficult” Road Ahead

Automaker’s stock continues tumble triggered by job cuts.

by on Jan.29, 2019

Weaker-than-expected Q4 demand is expected to mean just a modest profit.

Tesla is expected to report a small profit for the final quarter of 2018 but the automaker’s CEO is now signaling it may have some bad news for the current quarter.

The automaker delivered a solid surprise when it announced a $311.5 million profit for the third quarter of last year, well exceeding analysts’ expectation. CEO Musk earlier this month warned that the final three months of the year would bring a much smaller profit. While Wall Street has already digested that forecast, there are concerns about Musk’s latest advisory.

Breaking News!

While Musk, on January 18th, suggested the company might still be able to deliver “a tiny profit… with great difficulty, effort and some luck” as it headed into 2019, his latest advisory suggests its luck may be running out, at least for now. With Musk warning of a “very difficult” road ahead, there’s a growing consensus the first quarter now will bring another dose of red ink.

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New Vehicle Sales Buoyant During January

NADA economist sales conditions are still good for strong sales.

by on Jan.28, 2019

New vehicle sales in January are expected to surpass those from a year ago, according to analysts' estimates.

Despite the government shut down that cost the U.S. economy roughly $6 billion since Christmas, according to economists estimates, early indicators suggest new vehicle sales are expected to inch up in January, compared with year-ago results.

However, early indications are that for the start of the year, sales will continue to be strong before sliding off later in the year.

Business News!

“The current posture of the U.S. economy is strong,” NADA Senior Economist Patrick Manzi said at a press briefing during the NADA Show in San Francisco. “A tight labor market continues to put upward pressure on wages, which are rising. Consumer spending, a significant contributor of GD, remains solid. It’s a positive sign that consumers are spending money.” (more…)

Analysts Forecasting Strong Auto Sales in January

Uptick comes despite government shutdown.

by on Jan.25, 2019

Analysts are predicting that January new vehicle sales will be up compared with last year's results.

Automakers and analysts alike have predicted that new vehicle sales in the U.S. for 2019 will be lower than they were in 2018. Of course, we now know they were happily wrong, and the early predictions have 2019 ahead of last year’s sales pace.

Edmunds predicts that 1,169,804 new cars and trucks will be sold in the U.S. in January for an estimated seasonally adjusted annual rate (SAAR) of 17.2 million. This reflects a 28.1% decrease in sales from December 2018, but a 1.3% increase from January 2018.

Business News!

“January’s sales strength shows car shoppers are still feeling optimistic, even in the midst of the government shutdown and talk of a slowing economy,” said Jeremy Acevedo, Edmunds’ manager of industry analysis.  (more…)

First Look: 2020 GMC Sierra Heavy Duty

Maybe it could pull the Queen Mary.

by on Jan.23, 2019

The Sierra HD 3500 makes an audacious debut pulling 225,000 pounds of yacht and trailer.

It wasn’t quite the Queen Mary, but watching a pickup pull 225,000 pounds worth of yacht and boat lift will clearly get your attention – as it did Tuesday evening when GMC unveiled several versions of its 2020 Sierra Heavy Duty models at a San Diego news event.

“For customers who demand a premium, innovative heavy-duty truck that supports their passions, the next-generation Sierra HD can pull like a pro,” proclaimed GMC Vice President Duncan Aldred following a demonstration that made his words sound a little less like hyperbole.

Keep on Trucking!

The HD builds on the “base” Sierra pickup launched by the GMC brand for 2019, the light-duty 1500 version one of the finalists for North American truck of the year. In heavy-duty trim, buyers will have a variety of options, including the off-road-oriented AT4, the h Denali and the stump-pulling HD 3500 that managed to pull yacht and lift with only a minor modification to its optional fifth-wheel hitch.

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