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Used-vehicle sales are set to rise again in 2017 after jumping 4 percent last year, the fastest pace since the Great Recession. Despite the projected sales increase, demand is unlikely to keep up with rising wholesale vehicle supplies as more off-lease vehicles return to the market. The growth is going to occur, but it is not going to occur as fast as the increase in wholesale supply. As a result, there will be downward pressure on used-vehicle prices. Despite a glut of off-lease vehicles beginning to enter the used market over the past year, pricing has remained relatively stable s...
U.S. sales of new cars and trucks hit a record high in 2016, automakers said on Wednesday, and investors bid up shares in the sector as strong consumer confidence and relatively low fuel prices bolstered the industry's outlook. December sales rose 3 percent, and on a seasonally adjusted annualized basis were 18.43 million vehicles. The results prompted executives from the three biggest sellers in the U.S. market, GM, Ford, and Toyota Motor Corp, (7203.T), to predict that this year's sales will be near 2016's record levels. U.S. consumer confidence reached levels not see...
Tesla Motors Inc. reported fourth-quarter deliveries that fell short of its own forecasts as production delays continue to plague the carmaker led by CEO Elon Musk. The Palo Alto, Calif.-based maker of electric cars and energy-storage products delivered about 22,200 vehicles in the final three months of last year, according to a statement Tuesday. The total trailed the automaker’s projection for 25,000 units and brought its full-year tally to 76,230 vehicles, below its forecast for at least 80,000 units. Musk has a history of setting ambitious targets and timelines for Tesla a...
No matter how auto sales turn out when they are reported Wednesday, it's going to be a squeaker. The auto industry is on the cusp of reporting another record year, perhaps topping 17.5 million new vehicles sold in the U.S. But the numbers are so close that forecasters are divided on the prospect. The focus is turning, instead, to 2017 to see whether the industry can reignite sales growth based on consumer optimism, a rising stock market and a healthy housing market. Some auto industry analysts say that retail automotive sales continue at a blistering pace, giving the auto indust...
Japan's Takata, maker of defective air bags that have been linked to 11 U.S. deaths, could settle criminal charges with the U.S. Department of Justice before the Obama administration leaves office next month. Part of a settlement would include Takata pleading guilty to criminal misconduct. The Justice Department has investigated whether Takata hid information from safety regulators and issued misleading statements about the dangers posed by the air bags. Any deal would likely include a monitor to ensure Takata's compliance with the agreement. The Wall Street Journal, citing ...
