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The current slowdown in U.S. auto sales may be less severe for the auto industry than it seems. The reason is that most of the decline is in generally less-profitable fleet sales. The forecasting and consulting firms said they expect U.S. auto sales of just under 1.5 million in June 2017, down 2.3 percent from a year ago. That corresponds to a Seasonally Adjusted Annual Rate of 16.5 million, down from a SAAR of 16.8 million a year ago. The SAAR is an estimate for the full year of sales, based on the selling rate in a single month. June would mark the fourth monthly SAAR in a row bel...
Takata Corp. filed for bankruptcy protection in Japan and the U.S., after the world’s biggest automotive recall scandal. The company will be bought by the U.S. supplier Key Safety for $1.59 billion. The sale will not include some operations related to Takata’s business in the ammonium nitrate airbag inflators that were the subject of a global recall linked to defects that resulted in some airbags exploding with too much force and spraying the cabin with metal shards. Malfunctioning Takata airbag inflators have been linked to at least 16 deaths and 180 injuries worldwide ...
Wall Street is fretting that the U.S. auto industry is heading for a downturn, but for thousands of workers at General Motors factories in the United States, the hard times are already here. Matt Streb, 36, was one of 1,200 workers laid off on Jan. 20 – inauguration day for President Donald Trump – when GM canceled the third shift at its Lordstown small-car factory here. Sales of the Chevrolet Cruze sedan, the only vehicle the plant makes, have nosedived as U.S. consumers switch to crossovers, SUVs and pickup trucks. Streb is looking for another job, but employers are wary because ...
For the first time starting in 2019 Ford Motor Co. will export vehicles from China to the U.S.. The automaker plans to move the production of its Ford Focus small car from U.S. to China. Sales of small cars have dropped sharply in the U.S. and companies are seeking to cut costs making them. Ford's president of global operations Joe Hinrichs said the move to China will save the company $1 billion, including $500 million for canceling plans to build the Focus in Mexico. Wary of the response from President Donald Trump, who has criticized Ford for making vehicles outside the U.S., ...
Just in case you were wondering about McLaren switching to the SUV market, now we know for sure that this thing won’t happen anytime soon. The company will continue working on driver’s cars and GTS cars. More and more SUVs are being introduced by more and more manufacturers at the moment, some of which are arguably just trying to soak up the market demand and go with the trends. McLaren Automotive isn’t looking that much at increasing its sales figures, as it is focusing on quality first. So far this year McLaren sales in Australia are up by almost 150 per cent yea...
