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Automakers are on pace to build more new cars and light trucks in 2016 than in any other year, but efforts to reduce bloated inventories next year could lead to North America's first production decline since the Great Recession. Record car sales paces in the U.S., Canada and Mexico have kept plants busy. About 15 North American plants reportedly were running overtime through last week, nearly four times as many as the same period a year ago. Most of those plants build trucks. But automakers are already preparing for a production reckoning in 2017. Ford Motor Co., General Motors ...
As consumers keep snubbing sedans despite record consumer discounts, the U.S. auto sales will probably decline slightly for December. Specialists forecast manufacturers' discounts offered to close sales would hit a record high of more than $4,000 per vehicle in December. The consultancies estimated sales at 17.5 million vehicles on a seasonally adjusted annualized basis this month, flat with a year ago. Detroit automakers are moving to cut production of certain vehicles, particularly small and mid-sized sedans, as they concede that the market is hitting a plateau where the...
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...
The U.S. automotive business appears to be easing off the accelerator a bit heading into 2017. The bottom line of sales (rates) are still pretty high, but they are plateauing and it is taking more effort in terms of promotion and incentives to keep sales higher. And the specialists expect that will be more of the same next year. With sales leveling off, inventories are rising. When inventories rise, automakers put more incentives on. Incentives are the highest they have been in a long time. There are certain cars that are absolute bargains, especially compact, subcompact and midsize...
Not even a week has passed since Uber introduced a fleet of self-driving Volvo XC90s to the streets of San Francisco, all in defiance of California regulators telling Uber to stop. Since then, the autonomous Volvos have been seen running red lights, ignoring stop signs, and failing to yield to pedestrians, obviously all dangerous and illegal moves. It seems there is one more problem to add to that list, as Uber has admitted to The Guardian that its vehicles have problems navigating through bike lanes. Like with the other incidents, there have been first-hand reports of Uber's Vo...