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Although stores selling the Lexus, Audi, Infiniti and Acura luxury brands are seeing double-digit profit declines this year, profits at Toyota and Honda dealerships are growing. Nissan and Acura dealers experienced the biggest declines. Alan Haig, president of buy-sell advisory firm Haig Partners in Fort Lauderdale, Fla, said that this is the first time such data has been published. He claims that this visibility into earnings will give owners, buyers and sellers insight into what they should be doing. He also added that this can also spark conversation between dealers and automakers on w...
To clear out bulging inventories of unsold cars and dispel investor doubts about consumer demand, automakers in the United States are ramping up holiday sales promotions ahead of Black Friday. Detroit automakers need a strong year-end sales push. They are sitting on hefty inventories of unsold sedans, compact cars and sports cars as consumers shift to pickup trucks and SUVs. The share prices of General Motors, Ford Motor, and Fiat Chrysler Automobiles NV are flat to down for the year. This reflects investor concerns that a six-year auto sales boom in the United States is reaching an end and th...
The U.S. auto sales forecast in 2016 remains at 17.4 million vehicles, but with a bias toward the upside. That would allow a new record beyond last year's record of 17.39 million vehicles or 17.47 million vehicles. Next year is pivotal for the auto industry, due to the chance of an economic stimulus plan under a Donald Trump presidency and the likelihood that attractive consumer discounts, or incentives, are pulling some 2017 sales into the current year. The U.S. economy and auto industry could be facing a boom or bust, depending on which policies are focused on and implem...
Chrysler announced a pair of recalls for the Dodge Dart, Durango, and Jeep Grand Cherokee. They're unrelated, as the Dart recall concerns windshield washer pumps, and the Durango and Grand Cherokee recall is for fuel rails. But the number of cars involved in both totals up to 88,888 cars, which is rather bizarre. Breaking down the coincidental number, we first have 34,633 2016 Dodge Durangos and Jeep Grand Cherokees recalled because fasteners on the intake manifold can come into contact with the fuel rail on some vehicles. This could lead to a fuel leak, and a subsequent fire ha...
At the Los Angeles Auto Show, CEO Brian Krzanich said Intel Capital intended to invest more than $250 million over the next two years to develop technology for autonomous vehicles. During his keynote speech, Krzanich said the company would use its expertise to handle vision processing, 5G connectivity, cloud computing, machine learning and security. Intel, which traditionally has not been a major automotive supplier, has been expanding its presence in recent years. Over the past 12 months, the company says it has booked contracts with a variety of automakers worth $1 billion. Custom...
