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Tesla has leapfrogged General Motors to become America’s most valuable carmaker, riding a wave of optimism about the electric vehicle company despite its continuing losses. Shortly after the start of trading on April 10th, Tesla's stock market cap overtook that of GM – it was worth about $51 billion, or $1.7 billion more than its established rival. While it's not clear that this will last, it's no mean feat for a company that has made just three car models in its brief 13-year history. The big question is whether or not Tesla can back up that value with raw sales number...
BMW topped its rival in the US luxury auto market for the first time this year, eking out a monthly sales increase and gaining ground on Daimler AG’s Mercedes-Benz. Deliveries of the X3 and X5 sport utility vehicles climbed 43 percent and 35 percent last month, respectively, pacing BMW’s total sales of 31015 vehicles. The Munich-based automaker outsold Mercedes by about 1900 units in March. As plummeting demand for passenger cars led most automakers to miss analysts’ estimates last month, BMW managed to keep deliveries of its 3 Series and 5 Series models roughly flat compared...
May be we have been living in the auto industry bubble, but it's time to look at things from a fresh perspective amid some worrying rounds of new data. The cars are getting way more expensive in light of the increased horsepower and amenities. Unsurprisingly, this rising level of auto luxury has come alongside a surge in the stock market that has buyers willingly plunking down their credit card or some cold hard cash to get a new toy. The same thing could be applied to non-luxury cars, say mid-size sedans from Ford, Toyota and General Motors. They are receiving hosts of new fea...
Orange County new vehicle sales mostly held steady in February, slipping a mere 0.3 percent in yet another sign the hot auto industry is at a plateau. Auto sales peaked in 2015 with a 8.7 percent gain overall compared with 2014, then leveled off in 2016 after six years of growth. Last year, local dealerships reported a sales decline of less than 1 percent, according to the Orange County Automobile Dealers Association, which tracks new vehicle registrations. In January, post-holiday auto sales in the county decreased 4.2 percent. The group expects 2017 auto sale numbers to be similar...
Sales of new vehicles are expected to tick up this year, because of steady interest rates and firmer brand. There had been three years of declines in auto sales. Before that, we had a number of very good years didn’t we, so are things just leveling off? The answer is yes. We had a couple of good years post the recession 2008-09. We had five or six years of consecutive growth and the last few years have seen the vehicle sales decline, mainly as a result of the depreciation of the brand. What we’ve seen is customer demand has not reduced at all over the course of the last t...
