Posts Tagged ‘auto sales’

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…)

Auto Industry Survives Storm as August Sales Hold Steady

Hurricane Harvey takes bite out predicted sales.

by on Sep.01, 2017

August new vehicle sales remained steady despite Hurricane Harvey's impact on Texas and Louisiana. Photo credit: Brendan Strong

With the rain from Hurricane Harvey still flooding into dealerships in Texas and Louisiana, new car sales held steady in August as carmakers and analysts assessed the impact of the massive storm.

Analysts initially predicted that August sales would rise as much as 2%, making it the first monthly year-over-year increase in 2017. However, Harvey took out more than a week of sales in Texas, one of the largest markets in the U.S.

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General Motors, Toyota and Audi all reported sales increases for the month, while Ford, Nissan and Fiat Chrysler N.V. said sales dropped.  (more…)

Automakers Expected to See Sales Increase in August

Light trucks expected to lead the way.

by on Aug.25, 2017

New car sales are expected to rise, especially at GM where new utes, like the Chevy Traverse, are expected to see increases.

Sales of new vehicles in August are expected to increase 1.5% year-over-year, snapping a seven-month string in which sales of new cars, trucks and utility vehicles had dropped, according to a new forecast from Kelley Blue Book.

“August should be the first year-over-year increase of 2017, due in part to an extra selling day this month,” said Tim Fleming, analyst for Kelley Blue Book. “This sales improvement would break a seven-month negative streak, the longest since the recession in 2009,” he noted.

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One unforeseen factor, which could alter the forecast, is the impact of Hurricane Harvey, which could disrupt sales in a wide area, stretching across Texas and Louisiana. Texas is the second-largest market for new vehicles in the U.S. and the storm is barreling down on the Houston metropolitan area, one of the largest in the U.S. (more…)

New Vehicle Sales Set to Drop Again in July

Subaru expected to buck trend and see sales increase.

by on Jul.27, 2017

While most automakers are expected to sell sales slip in July, Subaru is rolling right along with continual monthly increases.

New vehicle sales are expect expected to drop roughly 6% year-over-year in July as the industry continues a slow retreat that began last winter.

The seasonally adjusted annual rate or SAAR has now dropped to an estimated 16.7 million, according to Kelley Blue Book.

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“The annual selling pace is expected to remain below 17 million SAAR in July with volume dipping slightly from the levels seen in May and June 2017,” said Tim Fleming, KBB analyst.  (more…)

Unlike US, New Vehicle Sales on the Rise in Canada

June sales jump 6.5% while first half is up 5%.

by on Jul.05, 2017

Ford sales were up 14.1% in June in Canada. The country's auto sales are at record levels this year and trucks are the reason.

Canadian auto sales are climbing steadily this year, increasing by 5% during the first half of 2017 after setting a record in June when sales increased 6.5%.

As in the United States, light trucks have been strong during the first six months of the year even as sales of passenger cars dropped. Overall, automakers sold 1.04 million new vehicles in Canada between Jan. 1 and June 30, according to sales figures from manufacturers.

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In contrast, U.S. auto sales fell for a fourth consecutive month in June, despite hefty consumer discounts, the major automakers reported on Monday. The gains in sales in Canada as well as in Mexico are offsetting some of the drop in U.S. sales. (more…)

New Car Sales Hitting the Skids in the US

June sales expected to be 4% lower, KBB says.

by on Jun.26, 2017

New vehicles sales are expected to drop 4% on year-over-year basis in June, according to KBB.

The decline in new vehicle sales appears to be accelerating after a 4% year-over-year drop during the month of June, according to Kelley Blue Book estimates.

KBB puts total sales of 1.46 million units in June 2017, resulting in an estimated 16.3 million seasonally adjusted annual rate, one of the lowest recorded in the past two years when SAARs of 17 million have been the norm as sales of new vehicles reached record levels.

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“Kelley Blue Book projects June will be yet another down month of sales with expected declines in both fleet and retail,” said Tim Fleming, KBB analyst. “With manufacturers continuing to announce production cuts at their plants following weaker consumer demand, it all but solidifies 2017 as a down year.  (more…)

Fuel Economy Ratings Still Drive New Car Purchases

Bigger vehicles with improved mileage means better sales.

by on Jun.20, 2017

The fuel economy of the Toyota RAV4 has risen by 10 mpg in five years. Sales have jumped by 166% during that time.

Improvements in fuel economy have helped manufacturers gain a competitive edge in selling pickups, crossovers and sport utility vehicles, according to the authors of The Car Book.

A new analysis from the Consumer Federation of America indicates SUVs, pickups and crossovers that improved fuel economy ratings by at least 10% between 2011 to 2016, saw a 59% increase in sales.

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On the other hand, vehicles in the same segment that lagged behind in fuel economy with less than a 10% increase in miles per gallon from during the same period experienced a 41% increase in sales, almost 20 points less. (more…)

Slowing Auto Industry Threatening to Drag Down U.S. Economy

Automakers continue to cut production as sales slow.

by on Jun.15, 2017

GM is extending the summer shutdown at some plants, including this one in Fairfax, KS.

The U.S. auto industry was the little engine that could during the country’s recovery from the Great Recession, but it now may be turning into the anchor on an economy once again starting to sputter.

U.S. factory output slipped by 0.4% last month, a sharp turnaround from the 1.1% increase in April, the Federal Reserve reported on Thursday morning. While some industries continue to show strength, the weak figures for May coincide with growing production cuts by the U.S. auto industry.

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And the auto industry is facing still more jobs cuts in the months to come, industry analysts warn, especially if car sales don’t level out. GM, for one, has announced that it will extend its normal, two-week summer shutdown to as much as five weeks at some plants in the Midwest.

(more…)

March Sales Coming in Like a Lion

Analysts predicting sales increase of more than 2%.

by on Mar.27, 2017

Trucks are still paving the way for strong sales in the U.S. these days. March is expected to see a significant jump in new vehicle sales.

Even with concerns about rising interest rates and downward pressure on used car prices, making leases more expensive, auto makers are expected to post a sales increase for March, analysts said.

The auto industry will see its first year-over-year monthly increase of 2017 as March retail sales are expected to rise 2.4%, according to a forecast developed jointly by J.D. Power and LMC Automotive. Total sales are expected to increase 1.6%. J.D. Power and Kelley Blue Book expected that the seasonally adjusted rate of annual sales will reach 17.3 million units to 17.4 million.

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However, the sales increase will come at a price as incentives were running at a record level of $3,768 per unit, the highest level since the recession of 2009. Incentives as a percentage of manufacturers suggested retail prices reached 10.4% in March, which is also the highest level since 2009 when the topped 11% of MSRP, Power noted. (more…)

GM, Ford January Sales Slump in China

Celebrations closed businesses all over the country.

by on Feb.10, 2017

Ford sales dropped 32% year-over-year in January due to the Chinese New Year celebrations.

The timing of the Chinese New Year and a tax hike took a heavy toll on new vehicle sales in China during January.

Both General Motors and Ford Motor Co., which finished 2016 with a jump in sales, saw their sales decline as the New Year celebration shut down businesses of all kinds across China.

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General Motors and its joint ventures sales declined 24% due to the earlier Spring Festival holiday and reduction in the vehicle purchase tax incentive, GM said in a statement. (more…)

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