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Major automakers have posted their sales results for this September, and although we had high hopes on the discounts offered by General Motors and Ford Motor. Co, nothing saved the market from crashing down. The total industry sales were at 1.44 million vehicles, which is down 0.5% for a seasonally adjusted annualized rate of 17.76 million from 18.05 million in September 2015. The top-seller in the United States- GM, posted a 0.6%decline. Ford reported an 8% drop, and Fiat Chrysler Automobiles was down 1%. Shares of the three Detroit automakers rose, led by GM with a 0.8 percent gain. Sal...
Even as incentive spending reaches a record high, U.S. new-vehicle sales are projected to decline for a second consecutive month. The forecasts reinforce the notion that industry sales have leveled off after six consecutive years of gains coming out of the recession. But analysts say the market is not on the brink of a downturn, either. Auto sales are tracking just about even with last year’s record-breaking pace, so there’s good reason to believe that they’ve hit a high plateau. At the very least, automakers can feel good that sales are consistently hovering at o...
Considering the growth in auto industry has slowed down in 2016, and U.S. sales for General Motors and Ford were down 5.2% and 8.4% in August, comparing to the same month last year, the car companies aren’t accepting the downturn passively: to juice sales in September, incentive spending is at the highest levels ever. Automakers have been trying to boost sales by increasing incentives significantly. The average incentive in September is at a record high of $3,923 per unit. The beats the previous peak of $3,753 in December 2008- back when the Great Recession was kicking into fu...
Volvo's CEO says that Volvo Car USA has turned the corner with two of its 90-series vehicles on sale and others due early next year. A U.S. sales increase of 29 percent through August is evidence that Volvo's gutsy revival strategy was the right choice. Volvo is building all its vehicles on its flexible Scalable Product Architecture, or SPA. And it is using only turbo and supercharged Drive-E engines paired with optional plug-in hybrid power. Lex Kerssemakers says that the company is on a turnaround in the U.S. that started with the XC90. Volvo was starved for product for y...
This is not the first time when Tesla Motors is blocked from selling its electric cars directly to customers in Michigan. Over the past couple of years, Tesla has been engaged in a battle with Michigan's franchised car dealers who – like dealers in several other states – view Tesla's direct-sales model as a threat. Most recently, Tesla submitted an application for a Michigan dealership license. That application was denied by the Michigan government after a hearing earlier this month. This indicates that the home state of Ford, General Motors, and Fiat Chrysler Au...
