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Despite a record high for consumer discounts, specialists forecast a 1% drop of U.S. auto sales. September U.S. new vehicle sales will be 1.43 million, down 0.8% from a year earlier. The seasonally adjusted annualized rate for September will be 17.7 million vehicles, down from 18 million on the same basis a year earlier. Even retails sales to consumers, which don't include multiple fleet sales to rental agencies, businesses and government, were seen declining 1.4% in September. It would be the fifth month in the past seven to show a retail sales decline. Wall Street analysts expect a ...
It's not a secret that U.S. auto sales are on a tear. Earning reports out of Detroit have been a stunning counterpoint to the recent gloomy economic news. For one segment of the auto sector, however, the news hasn’t been so rosy. Despite the ongoing recovery and volume growth of the North American automotive sector, the profitability of dealers has been stagnating over the past three years. As a percentage of total sales, the 2.2% figure represents sales in the new- and used-vehicle departments and the service and parts departments. Some 42% of dealers report declined sto...
The U.S. should maintain President Barack Obama’s 2025 automotive fuel-economy target because the goal spurs innovation and job growth. By setting a long-term target similar to those of the European Union, Japan and China, Obama is providing the auto industry with a stable market big enough to support sustained innovation. Obama wants average U.S. auto fuel economy to rise from 35.5 miles per gallon this year to a projected 50.8 mpg in 2025. His successor will make a preliminary decision next year on whether to stick with that goal. A recent technical assessment report by the...
Fiat Chrysler Automobiles said it is recalling 1.9 million vehicles worldwide for an airbag defect that is linked to three deaths and five injuries. The aim of this recall is to resolve a defect that may prevent deployment of airbags and seat-belt pretensioners in some crashes. The recall includes models sold between 2010 and 2014, including the Chrysler Sebring, 200, Dodge Caliber, Avenger, Jeep Patriot and Compass SUVs. The data shows that about 1.4 million of the vehicles covered by the recall are in the U.S. Another 142,959 units are in Canada. The recall is the latest in a seri...
This August the U.S. auto industry has posted a decline for the last month of the season, ending summer on a gloomy note. The customer demand has become to soften and that is why we have been expecting for such results. Even , which is of course a b ad sign for the automotive industry, since they are the top three automakers in U.S.. Because of this, we have lost the chance on setting a new year-to-year record sales. Almost all the carmakers missed estimates, as the long six years’ growth for the industry appeared to have come to a halt in August. Overall industry sales ...
