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Bad news don't come alone, so as the car sales decline from month to month, General Motors said it will lay off 2,000 workers because of slowing car sales even as it makes new investments in its plants. GM said it plans to cut the third shift at its Lansing Grand River Assembly Plant in Michigan and Lordstown Assembly Plant in Ohio in January because sales of cars made at those plants are declining. The automaker assembles the Cadillac ATS and CTS and the Chevrolet Camaro at its plant in Lansing and makes the Chevrolet Cruze at its plant in Lordstown. GM had a slight increase in...
This October as predicted is another month to set low U.S. car sales. The car sales numbers will fall below the same month a year ago despite a relatively high level of incentives car sales are especially on the decline, as opposed to trucks, a category that includes pickups, SUVs, crossover SUVs and minivans. Based on online shopping, we are expecting total U.S. auto sales, including cars and trucks, to fall about 6% in October. The fact that October 2016 had fewer official “selling days” than October 2015, and sales were especially strong a year ago contributed to a po...
Specialists have made their forecasts for this October, and they're not optimistic for the U.S. car market, since a drop of 7% is expected. Comparing to October last year a drop of 7% is awaited, as automakers offer steep discounts and adjust production to manage inventories. The two auto industry consultants said October U.S. new vehicle sales will number 1.347 million, down 7.3% from 1.453 million units a year earlier. The seasonally adjusted annualized rate for October will be 17.7 million vehicles, down from 18.1 million on the same basis a year earlier. This October has two...
One sector of the U.S. automotive industry will be quite unhappy at the announcement of the new car brand, from the Chinese industrial group Zhejiang Geely Holding Group. We are talking about the franchised car dealers. The new brand, aimed at Millennials, is likely to be sold under a non-traditional retailing approach, according to cryptic postings on various websites. Geely and Volvo, which Geely owns, likely are planning to sell via the Internet and company-owned stores, not through franchised dealers. Lynk, an "affordable premium" vehicle resembling those built by Volv...
The weekend Hurricane Matthew traveled up the East Coast, and that is the reason why vehicle online shopping traffic plummeted nearly 60%. The online advertising company compared traffic patterns of certain automotive websites from Oct. 7-9, when the hurricane hit the U.S., to the four weekends prior. The study found Savannah area shopping activity dropped 57%. In Charleston, online shopping traffic fell 55%. The cities of Florence and Myrtle Beach in South Carolina each saw a 41% decrease in traffic. Some residents in Savannah and Charleston were still returning home Sunday, Oct. 9...
