qr-play-store play store

U.S. sales to fall in October for third straight month

27 Oct 2016
No comments
985 views
U.S. sales to fall in October for third straight month

U.S. new-vehicle sales are expected to decline for a third consecutive month, but the industry’s selling rate could reach its highest point of the year because of the way October falls in the calendar. Forecasts show sales falling 6 to 8 percent from a year ago. That would be a better performance than it appears because October has two fewer selling days than it did in 2015. Analysts said Hurricane Matthew also slowed sales in the Southeast early in the month.

 

 

The forecasts translate to a seasonally adjusted, annualized selling rate of 17.7 million to 17.9 million. That compares to 17.74 million last month and 18.15 million a year ago. Taking into account that there are no popular weekend sales events in October, automakers and dealers can feel encouraged by this month’s performance as they head into what they hope will be a busy holiday season. Automakers are scheduled to report October sales on Tuesday, Nov. 1.

 

 

Total sales declined in each of the last two quarters. As a result, Ford Motor Co. and other automakers have been cutting production to keep inventories from getting too big. Incentives also are on the rise as demand flattens out. Incentive spending is down slightly from September but up at least 12 percent from a year ago.

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
    15
    1013679 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
    16
    103919 views
  • Chevy Halves Cruze Production Due to Falling Demand
    18 Apr 2018

    Sedan sales are falling across the industry, and automakers are reacting to this. General Motors reacts by halving Cruze production at its Lordstown, Ohio factory, probably impacting around 1,500 workers there. This factory only produces Cruze, and there are working just under 3,000 employees.  The news comes as sedan sales, in general, are down 13.2 percent this year while crossover, SUV, and truck sales grew seven percent. Sales for the Cruze are even worse than the industry average, 28 percent. Last year, Chevy sold just over 184,000 Cruze models. The sales' decline forced the...

    0 0
  • China Eradicates Rules That Exclude Foreign Automakers
    18 Apr 2018

    The Chinese government made a surprising announcement that it plans to eradicate the protectionist rules that stop foreign car makers from selling their cars in the country, opening its markets to the capitalist vehicle manufacturers from 2020.  Today’s rules state that to sell cars in China without big taxes, car makers need to establish joint venture companies with local firms and can’t own more than 50 percent of its Chinese partner. These measures were introduced by the Chinese government in 1994 trying to promote local companies and limit the already-rich Western aut...

    0 0
Search on the blog
Find us on

Last added auctions

Lincoln Aviator
8 views
12 photos
4,500.00
No bids
MINI Cooper
6 views
10 photos
3,500.00
No bids
Audi S4
27 views
12 photos
3,000.00
No bids
Toyota PRIUS
44 views
10 photos
12,000.00
No bids