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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...
A vigorous court challenge is to be expected. New Work State’s general and 12 other top state law enforcement’s try to roll back vehicle emission rules announced by Trump’s administration before. In March, President Donald Trump ordered a review of U.S. vehicle fuel-efficiency standards from 2022-2025 put in place by the Obama administration, saying they were too tough on the auto industry. The push to weaken the rules by the Trump administration comes as automakers are worried that consumers shift to larger vehicles and low gas prices will make it expensive or impo...
Analysts are lowering estimates for 2017 vehicle sales after five months of industrywide deliveries declining from a year earlier. Among the reasons: automakers are showing more restraint on discounts than expected and gridlock in Washington reduces the likelihood of a second-half surge. Analysts reduced their full-year projections this spring, dialing the consensus back to 17.2 million light vehicles. The industry set a record with 17.55 million cars and light trucks sold last year, aided by a jump in shipments to rental-car companies and other fleet buyers. The auto industry has b...
We’re used to seeing the South Korean automotive business flourishing, which is why we were a bit surprised when Hyundai Motor and its smaller sibling Kia Motors revealed these poor sales for May. These car companies registered double-digit fall against a year-ago period as they face tougher challenge from Chinese rivals in the largest automobile market. Hyundai Motor and Kia Motors shipped out a total of 482,968 vehicles last month, down 14.3 percent from a year earlier. Overseas sales of Hyundai Motor came to 307,362 units, down 16.5 percent on year, while those of Kia Motor...
Almost half of the year is gone, so it’s getting pretty clear that the U.S. auto sales won’t reach a new record in 2017. We expect the U.S. car sales to reach approximately 17.2 million units in 2017, which is a less than the earlier prediction of 17.5 million. Still not so bad, when we think of all the issues happened in the automotive world by now, right? Based on dealerships' data through the first part of May, the average incentive was $3,583 per unit, a record for the month of May, analysts said. That was up from $3,342 in May 2016. Measured another way, the ave...
