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For car dealers, a sunny sales outlook at the start of 2018 has been overshadowed by rising interest rates, shrinking customer budgets and cost increases. Their optimism for the next quarter lost 14 points to just 56 on a 100-point scale, according to the Cox Automotive Dealer Sentiment Index. The report, based on a survey of more than 1,000 independent and franchise car dealers from April 30 to May 14, shows prospective buyers grappling with tight finances despite a Republican tax cut that many sales executives had expected to boost consumer spending. The biggest challenges they re...
As pressures mount on the industry despite rising vehicle sales, climbing technology costs, raw materials and global currency shifts ate into profits at the world’s carmakers. The US car market seems to recover, thanks to the sales increase in the first quarter.German groups Volkswagen and Daimler saw material and commodity costs deflate their earnings, while smaller operators Volvo and Mazda flagged rising technology and marketing spending for their profit drops. The outlay from launching new vehicles also took tolls on Fiat Chrysler, General Motors, Volvo and Daimler, with higher marke...
Ford said on Wednesday that the only passenger cars that it plans to keep on the North American market will be the Mustang and the upcoming Ford Focus Active which is a crossover-like hatchback that is due in 2019. That means that the regular Focus, Fiesta, Taurus, and Fusion won’t be available in the United States and Canada. Ford will continue to offer its full spectrum of SUVs, trucks, and crossovers. By 2020, almost 90 percent of Ford’s portfolio in North America will be trucks, utilities, and commercial vehicles. The car manufacturer is exploring new vehicle models ...
China and the U.S. might not be in th eir best relationship nowadays, but that doesn’t mean BMW will give up its sales goals. BMW will export its first full-electric SUV, called the iX3, to global markets after it goes into production in 2020 at its joint-venture plant in China. The iX3 project makes BMW the first major luxury-car maker to ship high-tech vehicles from China, in a sign consumers no longer equate the country with cheap products. It positions the Shenyang site to supply SUVs to the U.S., the second-biggest market for BMW, even with the question of higher Ame...
For Ford Mustang enthusiasts, April 17 is a special date. In 1964, Ford unveiled the pony car at the World’s Fair in Flushing Meadows, New York. It became an overnight sensation. Now, 54 years later, the iconic muscle car is the best-selling sports coupe in the world for 2017. Ford sold 125,809 Mustang coupes and convertibles in 2017. The world is falling in love with this car, Mustang representing the best of American design, performance, and freedom with unmistakable personality. The United States is the car’s best market. Ford sold here 81,866 Mustangs. But, other mar...
