qr-play-store play store

US car sales fall in March: discounts rise on unsold cars

04 Apr 2017
137 comments
2075 views
US car sales fall in March: discounts rise on unsold cars

The U.S. auto industry turned in an underwhelming performance in March as sales disappointed despite rising discounts. The industry reported sales of 1.56 million vehicles for the month, down 1.6% from a year earlier, amid increasing inventories of unsold vehicles, especially of small cars. In the face of declining sales, now it's up to automakers to see if they can pare production of slow-selling models and reduce the profit-crushing practice of having to offer heavy discounts to clear out the backlog. Sales incentives rose 13.4% in March, compared to a year earlier, to an average of $3,511 per vehicle.

 

 

Analysts say that going forward we'll see automakers likely cut production to manage inventories and to not go out of control with incentives. Overall, General Motors, the largest seller of U.S. vehicles, recorded a 1.5% sales increase but missed expectations of a much larger uptick. The company's inventory level rose to 98 days supply, up from 71 days a year earlier and symbolizing the industry's challenges. Ford Motor's sales slumped 7.2%, though most of the decline was attributable to lower sales to corporate and rental fleets. Fiat Chrysler, which is aiming to reduce its fleet sales because they are typically less profitable than those to individual customers, posted a 4.6% sales decline.

 

 

Tesla was an exception, as it said its first-quarter deliveries results posted a 69% increase from a year earlier. The electric-vehicle maker produced 25,418 vehicles in the first quarter and delivered just over 25,000 globally. Tesla does not provide monthly sales results, reporting delivery figures only quarterly. The major Japanese automakers took a hit from declining car sales in March. Toyota and Honda reported overall sales declines of 2.1% and 0.7%, respectively, while Nissan was up 3.2%.

 

 

As automakers continue to pile on discounts to find customers for unsold new vehicles, profitability may contract. The average new vehicle sold for $34,342, up 1.7% over the same month last year. Still, production is outpacing sales, meaning some dealers are stuck with too many vehicles. Inventory levels hit 4.1 million units entering the month, the highest level since June 2004. Small cars and sedans are a likely target of reduced production. Several automakers reported abysmal results for cars, as shoppers flock into crossovers, sport-utility vehicles and pickup trucks amid low gasoline prices, improved fuel economy for bigger vehicles and shifting design preferences.

0 0
Comments:
2020-12-03 23:38:45
generic cialis in canada cialis discount code
2020-12-03 10:47:52
cialis without food cialis prevent headache
2020-12-02 22:50:43
viagra cialis ili levitra online levitra buy apakah levitra itu
2020-12-02 22:33:22
viagra 100mg 4 comprimidos viagra empty stomach many viagra will insurance pay Rew graiz
2020-12-02 12:30:25
levitra topical cream generic levitra buy australia levitra e pressione oculare
  • 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...

    4 5
    1712
    1608587 views
  • Buy a car at RepoKar this Winter
    25 Nov 2017

    With winter on its way, the roads can be dangerous because it dries slower and road visibility as well as battery failure can also be hazardous. It’s time to start thinking about how you can make your daily drive safer and stress-free. That doesn’t necessarily mean you should buy an SUV or crossover to survive the season. Plenty of sedans and wagons provide qualities that can keep you safe in sleet and snow. These medium-sized vehicles also help you save at the pump! But what actually matters here is choosing the right place to buy a car from. There are several options on the marke...

    0 3
    2447
    441533 views
  • Diesel Cars VS Electric Cars
    17 May 2019

    Between loyal customers and car dealers lie an important dilemma that begs for an answer - What is the future of diesel cars and electric vehicles? Today at RepoKar, we are ready to tackle this predicament.Auto manufacturers and the combustible industries have often mentioned the idea that electric cars are worse for the environment than diesel and gasoline-powered vehicles because they are powered by dirty electricity.If we want to talk about fuel efficiency, noise pollution, and air quality, then EVs are clearly the outright winner. But if we're talking about torque or initial price, the...

    0 1
    9176
    398054 views
  • Fire Risk: BMW Recalls 185,000 Cars TODAY
    19 Apr 2019

    The recall expansion covers 3 Series, 5 Series and Z4 models from the 2006 model year. The problem has been traced to irregularities in the manufacturing process that could allow moisture to occur near the PCV valve heater and lead to a short circuit. The PCV valve is an emissions device that keeps pollutants created by an engine from being released into the atmosphere. It also helps keep the engine oil clean and prevents crankcase pressure from building up. BMW warns its customers to stop driving the vehicle if there is smoke coming from the engine, or if the driver smells smoke or plast...

    2 3
    553
    22654 views
Search on the blog
Find us on

Last added auctions

2012 Ford ESCAPE
24034 views
19 photos
3,400.00
No bids
2012 Nissan MURANO
24248 views
13 photos
3,500.00
No bids
2000 Honda CR-V
23821 views
12 photos
1,200.00
No bids
2012 Mazda MAZDA3
20537 views
16 photos
2,500.00
No bids