Posts Tagged ‘auto sales’

GM to Stop Reporting Monthly Sales Numbers

“Not enough time to separate” trends from fluctuations.

by on Apr.03, 2018

Car sales can see big short-term fluctuations that don't really reveal long-term trends, GM says.

General Motors will stop reporting monthly sales numbers in the U.S., China and Brazil, three of its largest markets, the automaker announced Tuesday, saying that it does not believe the numbers provide an accurate snapshot of what is happening in the automotive market.

The largest Detroit-based automaker will continue to provide monthly data to industry associations and government agencies, as well as the U.S. Federal Reserve, but will ask that the data not be released to the public or media. The move could trigger other manufacturers to follow suit, though analysts and investors could also seek other sources for the information.

Industry News!

“Thirty days is not enough time to separate real sales trends from short-term fluctuations in a very dynamic, highly competitive market,” Kurt McNeil, U.S. vice president for sales operations said in a statement.

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Analysts Slowly Raising Yellow Flags

Possibility of trade wars plants seed of doubt about auto sales.

by on Mar.30, 2018

The auto industry is expecting a strong sales year in 2018, but analysts warn a trade war could derail that.

The atmosphere around the New York International Auto Show was fizzy and upbeat with the industry firmly believing it’s heading for another strong year in 2018, but there are some caution flags flying as well.

Nariman Behravesh, chief economist for IHS Markit, told the annual Auto Forum co-sponsored by National Automotive Dealers Association and J.D. Power that the outlook for growth remains strong and stable and the industry should expect to benefit the improvements in consumer sentiment that the economy has spawned.

Industry News!

However, anxiety about a trade war is perhaps the biggest worry on the horizon, added Behravesh, who said he hopes battles about trade could be avoided. “Tariffs hurt us more than they do the Chinese,” he said. (more…)

Global Auto Sales Set to Hit Record in 2018

Industry coming tantalizing close to 100 million mark.

by on Feb.16, 2018

Despite sluggish sales in the U.S. and China, global auto sales are expected to set a new record in 2018.

Global auto sales are expected to hit an all-time record in 2018 of 97.3 million vehicles, according to a new forecast by LMC Automotive.

That 2.1% jump over 2017 would come despite a weak market in North America, as well as softening growth in what is now the world’s largest automotive market, China, LMC researchers said during a media conference call.

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The U.S., in particular, posted its first annual decline in vehicle sales since the market hit bottom in 2010, and it remains unclear what will happen in 2018, LMC Managing Director Pete Kelly cautioning that it “could go either way.” (more…)

New Vehicle Sales Hold Steady in January

The results a pleasant surprise since a negative number was expected.

by on Feb.01, 2018

The all-new 2018 Ford Expedition and its luxury sibling, the Lincoln Navigator, sold well in January.

Automakers did better than many expected in January as General Motors, Toyota, Nissan and Volkswagen all posted sales gains and transaction prices continued to rise right along with incentives.

General Motors reported a 1.3% increase in sales with the help of a surge in fleet sales, which accounted for 23.8% of the company’s sales. GM is also sitting on 94 days of unsold inventory, partly because it is stockpiling trucks ahead of big model change later this year, but also GM’s retail sales also declined during January

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“All of our brands are building momentum in the industry’s hottest and most profitable segments,” said Kurt McNeil, U.S. vice president, Sales Operations. “Chevrolet led the growth of the small crossover segment with the Trax as well as the mid-pickup segment with the Colorado. Now, we have the all-new Equinox and Traverse delivering higher sales, share and transaction prices,” he added. (more…)

New Vehicle Sales Expected to Drop in January

Forecasts support what automakers predicted earlier: lower sales in 2018.

by on Jan.30, 2018

New vehicle sales are expected to drop in January, according to industry forecasts.

For the second consecutive year, the new vehicle retail sales pace in January is expected to drop from year-ago levels, according to forecasts from J.D. Power, LMC Automotive and Edmunds.

The total seasonally adjusted annualized rate for January is expected to be 17.1 million units, with retail sales falling by 150,000 vehicles from a year ago, according to J.D. Power.

Sales News!

“Coming off a strong sales period to close out 2017, a slower start to the year was anticipated,” said Thomas King, senior vice president of the Data and Analytics Division at J.D. Power. “After the industry’s emphasis on the sell-down of old model-year vehicles in December, January is a transition month as manufacturers shift focus towards 2018 model-year vehicles.” (more…)

Buh-Bye Camry; Pickups, SUVs Now Own Top Sales Spots

Toyota's mainstay sedan didn't even crack the Top 5.

by on Jan.05, 2018

Despite giving the Camry a stylish makeover the sedan continued to lose momentum last year.

If anyone still questions the way light trucks have come to dominate the U.S. automotive market you only need look at the 2017 sales charts to see how passenger cars are on virtual life support these days.

Perhaps the most significant development finds that the Toyota RAV4 last year outsold the Camry for the first time ever. And so did the Nissan Rogue.

The Last Word!

The overall numbers for 2017 weren’t good, the U.S. market posting its first decline since the end of the Great Recession. And demand likely would have dipped more than the modest 5% if it weren’t for the strong, late-year surge as motorists in Florida and Texas raced to replace vehicles destroyed during the summer’s devastating hurricanes.

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Analysts Predicting December Sales Slide

This year expected to be fourth-best sales result ever.

by on Dec.28, 2017

New vehicle sales in December are expected to decline 7%, according to analysts.

Despite dropping millions of dollars on advertising during the holidays, analysts estimate that sales of new vehicles in December 2017 will drop 7% year-over-year with virtually every major manufacturer seeing its sales drop.

However, manufacturers can take comfort from the fact that this December will be the best sales month of 2017. This year will end at 17.1 million units sold, which is a 2% drop from last year, but still the fourth-largest sales total in history.

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“December should be the biggest sales month of the year, and despite our expectations for significant year-over-year declines, the projected SAAR of 17.6 million would be the third-highest of the year,” said Tim Fleming, analyst for Kelley Blue Book.  (more…)

Toyota’s Hollis Expects Solid Sales in 2018

Automaker expects new Camry to lead the way to good year.

by on Dec.05, 2017

Toyota executive Jack Hollis told the Automotive Press Association that the company expects U.S. new vehicle sales to exceed 16.5 million in 2018.

Toyota expects 2018 to be another strong year as industry sales once again exceed hit 16.5 million units or better, Jack Hollis, group vice president and general manager of the Toyota Division at Toyota Motor North America, told the Automotive Press Association.

Hollis cited several factors contributing to the continuing strength of car sales in the U.S., including a healthy U.S. economy, continuing job and wage growth, low fuel prices and improvement in consumer confidence.

Industry News!

“It might not be a record but still good strong pace,” Hollis said during in his speech during the APA meeting in Detroit. (more…)

October Sales Flat as Makers Flee From Fleet Sales

Volkswagen biggest October winner as SUVs drive increase.

by on Nov.01, 2017

Volkswagen's new Atlas was driving up sales by more than 11% for the automaker last month.

The popularity of trucks and utility vehicles continue to lift automakers’ sales during October in what was essentially a flat month for the industry.

Ford Motor Co.’s U.S. sales increased 6.2% with retail sales increasing 3.5% and fleet sales, as expected, increased 14.6% due to order timing.

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“F-Series produced another big sales gain for us in October,” said Mark LaNeve, Ford vice president, U.S. Marketing Sales and Service.  (more…)

U.S. New Vehicles Sales Rebound in September

Compact crossovers selling big as hurricane ravaged areas recover.

by on Oct.03, 2017

General Motors saw said Chevrolet Colorado's were blowing out of dealerships in September.

New vehicle sales boomed in September with General Motors, Toyota and Volkswagen all reporting double-digit gains as the regions of the U.S. battered by storms at the end of the summer began to recover and sales of compact crossover vehicles soared.

GM posted a 12% year-over-year increase in total sales in September, including a 17% increase at Chevrolet and an 9% increase at GMC.

Industry News!

“Our new crossovers from Chevrolet, Buick, GMC and Cadillac have been very well received and Chevrolet had an outstanding month with the Silverado and Colorado,” said Kurt McNeil, U.S. vice president of Sales Operations. “We are entering the fourth quarter with strong momentum, great products and a healthy economy.” (more…)

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