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As 2016 is almost over, the U.S. auto market is on the verge of setting a new sales record, beating last year's mark of 17.5 million new cars and trucks. Auto sales have been booming for several years, powered by a combination of cheap gas, easy credit, and pent-up demand. And with the unemployment rate now below 5%, there are plenty of Americans who now need a reliable, technologically up-to-date vehicle to get to and from work. Although some analysts think the market has plateaued and that there's no more growth to be had, the fundamentals point to continued strong sales b...
Northern Ohio auto dealers in November broke a recent cold streak, as vehicle sales rose nearly 6% from the like month a year ago. Powered by strong sales of trucks and SUVs, new vehicle dealers sold 18,692 last month, up 5.8% from 17,661 in November 2015. November sales rebounded with a showing of strong truck sales coupled with cars virtually flat with 2015. Continuing a trend seen for the last 11 months, truck and SUV sales drove the market, with dealers selling 7,468 units last month compared to 6,359 units in November 2015, an increase of 17.3%. New car sales were flat with la...
Fiat Chrysler dealers will have to wait a bit longer for two highly anticipated big-ticket vehicles: a fully redesigned Ram heavy-duty pickup and a luxury SUV for Jeep, the Grand Wagoneer. It became clear that FCA's Ram brand will not redesign its current heavy-duty pickups onto its new DT pickup platform in 2018 but instead will keep the same body-in-white and refresh the existing DS-based model. Meanwhile, the automaker has placed a hold on its development of the Jeep Grand Wagoneer luxury SUV. The vehicle has been on Jeep's product plan since 2014 and was to boast three r...
We all know how the auto industry has changed under Obama's administration, new regulations and policies intended yo increase fuel economy, improve safety and add jobs. Now that Donald Trump was elected as the new president the car industry is gonna face a wholesale makeover. Perhaps no industry could be affected in more ways by the new administration than the auto business. The changes under the Trump administration could include possible tariffs that will raise prices on imported vehicles and parts, fewer subsidies for electric cars and policies that discourage automakers from...
After three consecutive declines, automakers managed in November to make the largest year-over-year sales gain since February, posting a 3.6 percent gain. However, it took a big jump in incentives to make that happen. Those heavy incentives – now amounting to more than 12 percent of the industry's average transaction price – might be enough for 2016 to topple last year's record by a razor-thin margin. Going into December, U.S. sales were just 6,418 vehicles ahead of last year's pace, an increase of 0.04 percent. November and December have become big months fo...
