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The car sales market is not that gloomy as you might already think considering total sales have fallen for six consecutive months. With the slowdown largely a product of reductions in less-profitable fleet deliveries, retail sales have slipped less than 1 percent from a year ago The fact that consumers are snapping up high-margin SUVs and crossovers instead of less-expensive sedans has been a boom to Detroit automakers. After hitting the 10 million mark for the first time in 2016, U.S. light-truck sales rose 4.7 percent in the first half, setting records in every month except April a...
China has asked 3 major automakers to fulfill their obligations and finally recall the cars in China with Takata airbags, these automakers are: General Motors, Daimler's Mercedes-Benz and Volkswagen. The three foreign carmakers have to date only proposed recalling a small number of vehicles for testing and analysis instead of providing recall plans, the General Administration of Quality Supervision, Inspection and Quarantine said on its website late on Thursday. The watchdog said it met the carmakers' representatives and urged them to fulfill their legal obligations and reca...
Major automakers have reported their June sales data and let’s just say they were below our expectations. Even hefty consumer discounts and looser loan terms, couldn’t help car brands revive their new car sales.GM said its sales fell about 5 percent versus June 2016, but that the industry would see stronger sales in the second half of 2017 versus the first half. General Motors’ shares added 1.8 percent on Monday, while Ford shares rose 3.3 percent. Ford Motor Co said its June sales were hit by lower fleet sales to rental agencies, businesses and government entities...
The headlines for Hyundai Motor America's 2016 sales results were the kind any automaker would be proud of: Despite a car-heavy lineup, tight crossover supplies and thin incentive support, Hyundai and the new Genesis brand combined for a seventh consecutive year of record sales. But how Hyundai got there raises questions about the brand's sales tactics and its prospects heading into a softening market, including whether it relies too heavily on sales to rental agencies and to dealerships themselves, dealers and people familiar with Hyundai's sales operations say. The str...
McLaren Automotive has been rumored to be bought by Apple back in 2016, but why sell a company which does so well on its own? Of course the car maker isn’t planning to do any of this, because its lineup brought it to record profitability and sales in 2016. The automaker reported Thursday that pretax profits for 2016 were 9.2 million pounds ($11.9 million) on revenue of $844.7 million. That's a 70 percent increase from 2015 profits and marks the fourth consecutive year of profits for the independent McLaren brand. Much of the company's higher profit tally in 2016 reflec...
