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Analysts say that U.S. auto sales in June will likely fall 2 percent from a year earlier despite large discounts for consumers, presenting a fresh sign that automakers are heading into a downturn. June U.S. new vehicle sales will be about 1.48 million units, a drop of 2 percent from 1.51 million units a year earlier. The forecast was based on the first 15 selling days of the month. Automakers will release June U.S. sales results on July 3. The seasonally adjusted annualized rate for the month will be 16.5 million vehicles, down nearly 2 percent from 16.8 million units in the same mo...
By saying the U.S. auto market goes down specialists literally ignore the fact that a shakeout normally requires a recession and rising unemployment to poison the market’s health, which by the way isn’t visible yet. Saying the consumer lending is currently in crisis is a wrong path, just like the worries that the U.S. car sales are about to dive by between 1 million to 4 million annually over the next 3 years. The downward spiral can be saved by another government “cash for clunkers” subsidies. A stretched consumer, falling used prices, and technological obso...
Mercedes-Benz USA is lifting a key restriction on Tier 3 local advertising by dealers. Instead of limiting that ad spending to new-car sales, Mercedes will let dealers use the money to promote any area of the business. Ken Schnitzer, chairman of the Mercedes-Benz Dealer Board and owner of four Mercedes-Benz dealerships in Texas, says that they can spend money on new, preowned, service — whatever they think their need is. He thinks that's really a big improvement. The company's U.S. leaders talked to dealers about the change earlier this month at its national dealer mee...
Wall Street is fretting that the U.S. auto industry is heading for a downturn, but for thousands of workers at General Motors factories in the United States, the hard times are already here. Matt Streb, 36, was one of 1,200 workers laid off on Jan. 20 – inauguration day for President Donald Trump – when GM canceled the third shift at its Lordstown small-car factory here. Sales of the Chevrolet Cruze sedan, the only vehicle the plant makes, have nosedived as U.S. consumers switch to crossovers, SUVs and pickup trucks. Streb is looking for another job, but employers are wary because ...
For the first time starting in 2019 Ford Motor Co. will export vehicles from China to the U.S.. The automaker plans to move the production of its Ford Focus small car from U.S. to China. Sales of small cars have dropped sharply in the U.S. and companies are seeking to cut costs making them. Ford's president of global operations Joe Hinrichs said the move to China will save the company $1 billion, including $500 million for canceling plans to build the Focus in Mexico. Wary of the response from President Donald Trump, who has criticized Ford for making vehicles outside the U.S., ...
