qr-play-store play store

Automakers predicted a competitive December

05 Dec 2017
No comments
622 views
Automakers predicted a competitive December

Major automakers predicted a competitive December as they rushed to sell cars and boost their numbers before 2017 ends. Most of them posted mixed U.S. November new car sales. Now they're trying to sell down 2017 model-year vehicles, offering high discounts to consumers as the year-end nears. In 2016, the industry reported record annual sales of 17.55 million units.

 

 

Discounts have been above 10 percent of the average transaction price for 16 of the past 17 months. The National Automobile Dealers Association expects new vehicle sales to decline to 16.7 million units in 2018, after dropping to 17.1 million for the full year in 2017. If that forecast comes true, the race to move new vehicles off dealers' lots will only intensify next year. A worrying trend for the automotive industry was a rising number of subprime loans. Subprime levels are at just over 20 percent of originations, against more than 30 percent prior to the Great Recession, but recent increases remain a concern.

 

 

General Motors claims its sales fell 2.9 percent, with sales to consumers flat against the same month in 2016. Much of the decrease was driven by lower fleet sales. Ford reported a 6.7 percent increase for the month, with fleet sales up nearly 26 percent and retail sales 1.3 percent higher than in November 2016. Ford said SUV sales rose 13.3 percent, with pickups rising 4.1 percent. Fiat Chrysler Automobiles claims its fleet sales are low-margin. FCA has targeted a significant reduction in this type of sale in 2017. It posted a 4 percent overall decrease in sales for November, but fleet sales were down 25 percent while sales to consumers were up 2 percent on the year.

0 0
Comments:
No comments found
Leave a comment
  • Jaw-dropping deals this Spring at RepoKar
    27 Feb 2017

    Spring is right around the corner! With melting snow comes rising car sales. Longer days and brighter sunlight mean it’s the season to think about the best used cars for spring; vehicles that allow you to appreciate blue skies, while getting a head start to summer. The sooner you decide on your dream car, the greater the possibility of finding the best deals.  At RepoKar, we want to be sure that you've got everything you need to start the season fresh with a smile on your face. That’s why we’ve prepared amazing, hassle free used cars, trucks, and SUVs for our fr...

    0 2
    16
    1036281 views
  • General Motors to lay off 1,100 workers
    06 Mar 2017

    General Motors promised us other things but that’s how it all turned to be, even if it said it will invest $1 billion in U.S. factories now it announced to temporarily cut off 1,100 workers in May as its Lansing Delta Township assembly plant in Michigan shifts production to Tennessee. Last year it added 800 jobs at its spring hill, Tennessee plant to build the new version of GMC Acadia SUV.  The Lansing plant will continue building the Buick Enclave and Chevrolet Traverse after it retools for a month. GM also has announced other U.S. factory cuts. U.S. President Donald Trump ha...

    0 0
    19
    104999 views
  • Tesla Model 3 Production On Track To Hit 8,000 A Week?
    20 Aug 2018

    The Tesla Model 3 has been plagued with well-publicized production issues over the last few months. However, it seems the situation is finally improving. Back in June, the carmaker met its target of producing 5,000 Model 3s in the final week of the month.  Musk confirmed that this production target was met for at least two weeks in July during a financial call with analysts. Now the goal is to ramp Model 3 production up to 6,000 a week, but CNBC reports the automaker is on track to exceed that target by a significant margin. Evercore ISI analyst George Galliers said after having a to...

    0 0
  • 2019 Chevrolet Silverado Could Really Affect Ford F-150’s Sales
    16 Aug 2018

    The 2019 Chevrolet Silverado 1500 has been in the news a lot recently for many good reasons, among them its upcoming arrival at dealerships. But is it possible for the new Silverado to surpass F-150 in sales? Anything is possible, only if they use the right strategy.  According to Automotive News, Chevrolet has literally “restructured” its full-size pickup truck is not only design and materials but also its lineup range. What was lacking before is now present. For example, for 2019 there will be three new trims to help expand the Silverado’s market share. These new ...

    0 0
Search on the blog
Find us on

Last added auctions

2012 Mazda MAZDA3
214 views
16 photos
2,500.00
No bids
2007 Toyota RAV4
190 views
16 photos
5,983.00
4 bids
2006 Honda CR-V
278 views
15 photos
2,700.00
No bids
2011 Chevrolet CRUZE
291 views
15 photos
3,526.00
3 bids