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To clear out bulging inventories of unsold cars and dispel investor doubts about consumer demand, automakers in the United States are ramping up holiday sales promotions ahead of Black Friday. Detroit automakers need a strong year-end sales push. They are sitting on hefty inventories of unsold sedans, compact cars and sports cars as consumers shift to pickup trucks and SUVs. The share prices of General Motors, Ford Motor, and Fiat Chrysler Automobiles NV are flat to down for the year. This reflects investor concerns that a six-year auto sales boom in the United States is reaching an end and th...
At the Los Angeles Auto Show, CEO Brian Krzanich said Intel Capital intended to invest more than $250 million over the next two years to develop technology for autonomous vehicles. During his keynote speech, Krzanich said the company would use its expertise to handle vision processing, 5G connectivity, cloud computing, machine learning and security. Intel, which traditionally has not been a major automotive supplier, has been expanding its presence in recent years. Over the past 12 months, the company says it has booked contracts with a variety of automakers worth $1 billion. Custom...
Toyota has finally cut its forecast for North American car sales by 60,000 automobiles this year, and it's the first time when it revealed what expectations it has for US's car market. The automaker is convinced that a decline is inevitable. As American consumers shift away from fuel sippers like the Prius Hybrid and toward trucks and sport utility vehicles. Nissan Motor Co., which posted a drop in profit as it gave heftier incentives that buoyed deliveries, said it’s not seeing room for further expansion. The executive vice president of Toyota admitted that the car sa...
Despite the increased consumer discounts on so many popular models, U.S. auto sales fell approximately 6%. The seasonally adjusted annualized rate including an estimate of sales by No. 2 U.S. automaker Ford Motor Co showed sales at 17.9 million. General Motors Co October sales fell a less-than-forecast 1.7%. Sales of its smaller pickups and big SUVs surged while sedan sales fell. U.S. vice president of Nissan brand sales for Nissan Motor Co said favorable economic factors point to strong sales in the remainder of 2016. This year is likely to end slightly below last year's record...
General Motors, as well as other automakers, report October U.S. sales, amid concerns about waning demand, a potentially maxed-out auto-loan market and incentives' impacts on profits. However, Ford Motor will not be among them, as the automaker said that it will release results later this week due to a fire at its Dearborn, Michigan, headquarters that knocked out power to data systems. General Motors, meanwhile, was expected to report October sales of 246,512 autos, down 6.3% year over year. U.S. sales for Fiat Chrysler Automobiles are seen falling 10.6% to 178,2...
