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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...
Northern Ohio auto dealers in November broke a recent cold streak, as vehicle sales rose nearly 6% from the like month a year ago. Powered by strong sales of trucks and SUVs, new vehicle dealers sold 18,692 last month, up 5.8% from 17,661 in November 2015. November sales rebounded with a showing of strong truck sales coupled with cars virtually flat with 2015. Continuing a trend seen for the last 11 months, truck and SUV sales drove the market, with dealers selling 7,468 units last month compared to 6,359 units in November 2015, an increase of 17.3%. New car sales were flat with la...
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 car sales in November increased only a bit, which isn't a good sign specialists say. Retail sales rose only 0.1 percent in November, after a downwardly-revised 0.6 percent growth in October. Consumers bumped up their purchases at restaurants and furnishers last month. But they also trimmed spending at auto dealers and department stores, limiting the overall advance in retail sales. More Americans had seemed to enter the holiday season poised to shop. The improving job market has pushed unemployment down to 4.6 percent and prompted signs of accelerating wage growth. Over the ...
Volkswagen Group led automotive spending on Advertising Age’s 2016 list of the top 100 advertisement spenders worldwide. Fifteen automakers and tire maker Bridgestone Corp. constituted the automotive category on the World’s Largest Advertisers list. Seven of those automakers made the top 25, Advertising Age. VW ranked No. 4 on the biggest-spenders list, with its ad spending in 2015 totaling $6.6 billion. General Motors was next for automakers, taking sixth place on the list. It spent $5.1 billion in 2015. Daimler AG ranked No. 7 and spent $5 billion. Ford Motor Co. took...
