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This August U.S. gasoline consumption hit a new peak of 9.7 million barrels a day, a growth in demand that many oil bulls believe will be the driver for higher crude oil prices. Specialists are forecasting a increase of gasoline consumption by 1.9% to 9.33 million barrels a day in 2016, it means the record set in 2007 will be surpassed. Even though the gasoline growth is stronger than ever now, a downside in the industry is still predicted. Fuel efficient vehicles are likely to gain more popularity on greater environmental awareness. The world started to realize the need for cleaner...
Although demand for SUVs and pickups continues to flourish, total U.S. new-vehicle (retail and fleet) sales in September are anticipated to dip 0.8% to less than 1.43 million units vs. 1.44 million unit sales in the same month of 2015. Despite a record level of incentive spending, Labor Day weekend sales, which are traditionally robust, were down 1% from last year, based on sales data collected during the first two weeks of September. The month’s retail deliveries are set to reach 1.185 million units, off 1.4% from last September’s 1.2 million. Fleet sales are expected ...
Despite a record high for consumer discounts, September U.S. auto sales are forecast to drop nearly 1 percent from a year ago. It is expected that the U.S. new vehicle sales will be 1.43 million, down 0.8 percent 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. Retail sales to consumers, which do not include multiple fleet sales to rental agencies, businesses and government, were seen declining 1.4 percent in September. It would be the fifth month in the past seven to show a retail s...
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 ...
Volvo's CEO says that Volvo Car USA has turned the corner with two of its 90-series vehicles on sale and others due early next year. A U.S. sales increase of 29 percent through August is evidence that Volvo's gutsy revival strategy was the right choice. Volvo is building all its vehicles on its flexible Scalable Product Architecture, or SPA. And it is using only turbo and supercharged Drive-E engines paired with optional plug-in hybrid power. Lex Kerssemakers says that the company is on a turnaround in the U.S. that started with the XC90. Volvo was starved for product for y...