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Starting with the idea that customers already know from the internet what they desire and what they can get for a specific price, Hyundai is pushing its dealers to modernize the new-car shopping experience. The Korean automaker on Tuesday announced that dealers will post “fair market pricing” on their websites that includes company discounts offered to consumers. Dealers, which are independent businesses, will be encouraged to add incentives they’re offering to buyers. They’ll also deliver vehicles to customers for test drives and allow people to do paperwork...
Wanna know what exactly has changed everything in the U.S. car sales? Well the specialists blame it all on the post-Hurricane Harvey replacement demand and makeup deals from storm-delayed August purchases. And the more important question: Will it continue? Analyst Alec Gutierrez of Kelley Blue Book said hurricane replacement sales will provide a modest boost for two or three months. But he says the lift isn't enough to change his full-year forecast of 17.1 million, which would be down from last year's 17.6 million sales. Still, auto company economists say U.S. market fundame...
Many drivers scrambled to replace their flood-damaged cars in the past six weeks, as a result the seasonally adjusted annual sales rate for all U.S. light vehicles hit 18,57 million units last month. That was up from 16.14 million in August and well above 16.0 million forecast. It was the highest sales rate since July 2005. While U.S. sales rose beyond the storm zones, according to automakers and dealers, much of the September gains came after Hurricane Harvey hit Texas. Replacing cars during the recovery in southeast Texas and Florida will boost U.S. new and used auto sales through...
Even though the shares of US car retailers rose this September, analysts predict that longer-term concerns over the threat of eccomerce and weak demand in the sector remain. O’Reilly Automotive rose on Monday, up 2.7 per cent to $215.15. It outperformed the broad S&P 500 index which weakened 0.2 per cent to 2,496. The Dow Jones Industrial Average also traded down 0.2 per cent at 22,296 on Monday in New York, while the Nasdaq Composite shed 0.9 per cent to 6,370. Genuine Parts, which distributes replacement car parts, saw the biggest gains of any stock in the S&P 500 on Monday, ri...
U.S. auto sales are down 2% this August, by totaling 16,14 million. We’ve got to admit that we expected to see even worse car sales data from the big three Detroit automakers, but as Houston area replaces flood-damaged cars and trucks after Hurricane Harvey, their shares got higher. General Motors, Ford and Fiat Chrysler posted mixed August U.S. sales, with GM up 7.5 percent and Ford and Fiat Chrysler down. Japanese automaker Toyota improved sales by nearly 7 percent, Honda's sales fell 2.4 percent. Still, analysts focused on the potentia...
