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Global car sales have gained momentum this year, rising a stronger-than-expected 5% through July. While gains are expected to moderate through year-end, strengthening labour markets and improving financial conditions suggest that the upswing will continue in 2017. There are still nearly 50 million vehicles on the road in the United States that were built prior to the new millennium, and as a result U.S. purchases are expected to continue to move higher for the remainder of the year and in 2017. Carlos Gomes, Senior Economist and Auto Industry Specialist at Scotiabank, said that the ...
A Silicon Valley startup called “Otto” has just been bought by Uber, with the goal of putting a fleet of the self-driving trucks on the nation’s highways in as little as two years. At 55 miles an hour, with no one behind the wheel, Otto has tested its technology on closed roads. For test runs on the busy freeway, a safety driver sits behind the wheel, just in case. "We're living in an on-demand era where we all want to press a button and have something arrive as fast as possible. Well, there's a truck behind all of those products." said Lior Ron, cofoun...
We already know that the first half of 2016 has been a mixed bag for U.S. automakers with total car sales in the first seven months reaching 4.253 million, a decline of 7.7% compared to last year, and light-duty truck sales increasing by 9.1% to reach 5.913 million. General Motors has sold 1.706 million cars, a 4% drop compared to last year while Ford saw its sales grow by 3.3% to reach 1.560 million. Ford’s jump in sales can be directly attributed to the company’s above-average performance in the light truck segment. Overall passenger car sales has been slow, with sever...
Nissan has officially announced the starting prices and warranty for its 2017 Titan Crew Cab half-ton and Titan XD Crew Cab full-size pickup trucks, as it looks to grab a bigger piece of the hot U.S. market. The 2017 Titan Crew Cab half-ton will start at $34,780 for the S trim level with 4x2 drive. That includes Nissan's new 5.6-liter Endurance V-8 engine. The 2017 Titan XD Crew Cab will start at $36,290 for the S trim level with a 390-horsepower, 5.6-L V-8. The Japanese automaker also said Monday it is offering a five-year/100,000-mile bumper-to-bumper warranty on the trucks. ...
In July 2016, US truck sales stood at 0.92 million units, which is 8.7% higher than the 0.85 million units in July 2015. By contrast, US car sales in July 2016 fell to 0.58 million units as compared to 0.65 million units in July 2015. This car sales data suggests a YoY (year-over-year) decline of 9.8%. Let’s take a closer look. The SAAR (seasonally adjusted annual rate) of US truck sales jumped to 10.91 million in July 2016, which was much higher than the SAAR of 10.1 million units one month previously. In July 2015, the SAAR of US truck sales was reported at 9.97 million vehi...
