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When news leaked out Tuesday that Ford Motor would cut 10 percent of its salaried workers, it underscored how the auto industry's strong sales are slipping after years of consecutive growth since the Great Recession. In April, the industry reported a 4.7 percent sales drop. General Motors, Fiat Chrysler and Ford showed declines of 7 percent or more in sales. Japanese car companies also were off in the North American market, although not as much. As vehicle demand has ebbed, automakers find themselves dealing with bloated inventories. At the end of April, GM had enough vehicles ...
After 7 years of car sales growth new auto sales have declined 4.7 percent, following a 1.6 percent decline in March. Car manufacturers spent average of $3,814 per car sold in the first part of April but despite that the drop occurred. For total industry sales to reach a peak and start declining isn't a surprise to anyone, and it could be great for car buyers moving forward. Even carmakers don't seem to be terribly concerned with the decline in the number of total vehicles sold, as they're making more on each car they sell right now because their product mix is more heav...
U.S. auto sales did disappoint a lot as we told you în our previous article: U.S. April car sales decline deeper than expected. You knew about projections of 4% decrease and 3.1% decrease coming from major companies but even so it’s hard to understand what exactly happened with the car market industry. Here's how major foreign automakers fared: Toyota1st Projection: -4.8%2nd Projection: -4.8%Actual results: -4.4%The Japanese automaker sold 201,926 vehicles in the U.S. in April. The company's namesake Toyota brand recorded a 3.5% sales decrease, whi...
Emily Hurwitz is an advertising supervisor from San Francisco and she doesn’t like buying cars from traditional dealers, and she prefers buying cars from online platforms which unite car sellers and car buyers. Recently she has bought a 2012 Volkswagen Tiguan through such a platform and is really happy with the purchase. What does she say about car dealerships? Well, she’s not very impressed with them in a few words, because she somehow is convinced they will swindle her. “You’re talking to a guy who’s sizing you up. It’s a very overwhelming situa...
You can see that the U.S. car market has slumped by just reading about the loss of the big automakers in March, but that’s not all. The rental car sector does also show weakening, as bonds from some of the largest companies in the market slid off the back of declining used car prices and falling sales. The premiums investors demand to hold bonds issued by Hertz and Avis Budget Group have surged amid the market souring on the industry, jolted further on Monday after the pace of auto sales fell 10 per cent since December. Bonds issued by the two companies were the three biggest ...
