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What else interesting happened in the U.S. car industry aside from the Tesla being the leader in the electric car sales, and the big three carmakers revealing low car sales? Well, there are some stats you’ll also like to know from the March US car sales. Firstly we’ll talk about the Nissan Leaf finally beating the Chevrolet Bolt, which was a “WOW” even for us, because we couldn’t predict that a year ago. On the flip side, it’s quite impressive to me that Nissan logged 1,478 sales of the LEAF. With the Bolt here (even if in limited supply) and the...
The so-called Big Three automakers reported March sales that were weaker than expected. The declines for Ford, GM, and Fiat Chrysler happened as consumers bought fewer sedans and more SUVs. Total vehicle sales rose at a seasonally adjusted annual rate of 16.63 million. That was short of the forecast for 17.30 million.. Here's the scoreboard:Nissan: 3% (2.8% expected)Ford: -7.2% (-5.9% expected)GM: 1.6% (7% expected)Fiat Chrysler: -5% (0.4% expected)Toyota: -2.1% (-1.2% expected)Subaru: 11.3%BMW: 3.5%Volvo: 9.3%Automakers shares slid in trading following the numbers. Ford fell by...
The U.S. auto industry turned in an underwhelming performance in March as sales disappointed despite rising discounts. The industry reported sales of 1.56 million vehicles for the month, down 1.6% from a year earlier, amid increasing inventories of unsold vehicles, especially of small cars. In the face of declining sales, now it's up to automakers to see if they can pare production of slow-selling models and reduce the profit-crushing practice of having to offer heavy discounts to clear out the backlog. Sales incentives rose 13.4% in March, compared to a year earlier, to an average of $3,5...
The second quarter for the 2017th year started not so bad, after car makers showed disappointing sales results for the first one. That could’ve been a warning for other types of spending, but a late recovery helped stocks avoid bigger losses. Stocks tumbled in morning trading after automakers including Ford and General Motors said passenger car sales slumped last month. Auto parts and rental car companies also tumbled. Spending by shoppers is a critical part of economic growth and investors found themselves wondering if spending will keep growing as it has in recent years...
May be we have been living in the auto industry bubble, but it's time to look at things from a fresh perspective amid some worrying rounds of new data. The cars are getting way more expensive in light of the increased horsepower and amenities. Unsurprisingly, this rising level of auto luxury has come alongside a surge in the stock market that has buyers willingly plunking down their credit card or some cold hard cash to get a new toy. The same thing could be applied to non-luxury cars, say mid-size sedans from Ford, Toyota and General Motors. They are receiving hosts of new fea...
