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Toyota Motor Corp. executive claims that the U.S. auto market has peaked and will shrink this year, with manufacturers using unprecedented incentives to support passenger cars through slumping demand. The president of Toyota’s U.S. sales unit, Bob Carter, says that industrywide deliveries may decline to as low as 17 million vehicles from last year’s record of about 17.5 million. A rapid shift in demand toward sport utility vehicles at the expense of sedans is the main factor driving automakers’ heavy discounts. Once the industry starts to get their pipelines lined ...
Ford has good expectations at least when it comes to its SUVs, and this was proved by the words coming out from Ford's vice president of U.S. marketing, this Monday. He says the sport utility vehicles will not stop here, and the sales of them will rise in the United States. The country’s second largest automaker has unveiled its refreshed version of Ford Explorer SUV not so long ago, and it increased the carmaker’ sales to nearly 40%. Low fuel prices and improving fuel efficiency among SUVs have helped prod more Americans into buying SUVs and pickup trucks in recent ...
It’s been a week since the fierce debate has started, and now it’s official, California’s Legislature approved the plan of raising gas taxes and vehicle fees by $5.2 billion a year to pay for the repair of California’s pothole-ridden, decaying system of roads, highways and bridges. The bill squeaked through the Senate on a 27-11 vote and cleared the Assembly with 54 votes, the bare minimum required in both houses. The measure sparked suspenseful wrangling in the waning hours of Thursday initially three votes short of securing the two-thirds threshold ne...
Tesla has leapfrogged General Motors to become America’s most valuable carmaker, riding a wave of optimism about the electric vehicle company despite its continuing losses. Shortly after the start of trading on April 10th, Tesla's stock market cap overtook that of GM – it was worth about $51 billion, or $1.7 billion more than its established rival. While it's not clear that this will last, it's no mean feat for a company that has made just three car models in its brief 13-year history. The big question is whether or not Tesla can back up that value with raw sales number...
March has been a hard month for automakers, dealerships and car sellers because the car sales records reached last year couldn’t be repeated in 2017 again. The interest rates are rising but the used-vehicle prices are falling down. Industrywide deliveries lowered to an adjusted annual pace of 16.6 million vehicles, falling short of analysts’ expectations of 17.2 million. In that report we highlighted the risks to the industry from rising rates, rising negative equity in vehicle loans and used vehicle-price deflation. This could lead to deteriorating affordability, delaye...
