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The U.S. automotive business appears to be easing off the accelerator a bit heading into 2017. The bottom line of sales (rates) are still pretty high, but they are plateauing and it is taking more effort in terms of promotion and incentives to keep sales higher. And the specialists expect that will be more of the same next year. With sales leveling off, inventories are rising. When inventories rise, automakers put more incentives on. Incentives are the highest they have been in a long time. There are certain cars that are absolute bargains, especially compact, subcompact and midsize...
GM revealed that it plans on reducing its production at Detroit-Hamtramck Assembly Plant, and at factories in Lansing and Ohio. GM says it had more than 874,000 cars, trucks and crossovers in its inventory at the end of November- the most it has had in its U.S. stock in eight years, when vehicles went unsold during the Great Recession. And with some car models nearing six months of supply, GM will stop assembly lines for three weeks in January at Detroit-Hamtramck, according to the United Auto Workers union. The automaker announced in November it would cut shifts at plants in Lansin...
The US car buyers are showing signs of fatigue, raising concerns over the broader outlook for consumer spending—a key engine of U.S. Growth. Sales of light vehicles in the U.S. have increased for six straight years, touching a record 17.5 million units in 2015, and are potentially on track for another record this year. But sales now appear to have plateaued, leading to a buildup of inventory and a return to discounting—something auto makers swore off when emerging from the recession. Dealership sales, measured in dollars, fell a seasonally adjusted 0.5% in November from ...
This Tuesday General Motors has asked the supreme Court to overturn an appellate court's ruling that the automaker's 2009 bankruptcy does not shield it from lawsuits over a faulty ignition switch linked to at least 124 deaths and 274 injuries. Whether you like it or not, the petition market a last-ditch effort by GM to block hundreds of customer lawsuits over faulty ignition switches, and other vehicles components, on grounds that they were barred by the automaker's 2009 bankruptcy sale to a new corporate entity. In its petition, GM said the federal bankruptcy code permi...
We all know how the auto industry has changed under Obama's administration, new regulations and policies intended yo increase fuel economy, improve safety and add jobs. Now that Donald Trump was elected as the new president the car industry is gonna face a wholesale makeover. Perhaps no industry could be affected in more ways by the new administration than the auto business. The changes under the Trump administration could include possible tariffs that will raise prices on imported vehicles and parts, fewer subsidies for electric cars and policies that discourage automakers from...
