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March has been a hard month for automakers, dealerships and car sellers because the car sales records reached last year couldn’t be repeated in 2017 again. The interest rates are rising but the used-vehicle prices are falling down. Industrywide deliveries lowered to an adjusted annual pace of 16.6 million vehicles, falling short of analysts’ expectations of 17.2 million. In that report we highlighted the risks to the industry from rising rates, rising negative equity in vehicle loans and used vehicle-price deflation. This could lead to deteriorating affordability, delaye...
Starting with October 2016, the SUV segment started to account for roughly one in every three vehicles sold. The Nissan Rogue is driving the sales, and became the top-selling nonpickup in America. Sales of crossovers since 2012 have increased 58 percent to more than 5.6 million sold in 2016, while car sales during that time declined 7.8 percent. Crossovers accounted for 33.9 percent, or 1.4 million, of the 4 million vehicles sold in the first quarter of 2017. The growth of crossovers comes as car sales face double-digit declines this year and the industry experienced a 1.6-percent f...
BMW topped its rival in the US luxury auto market for the first time this year, eking out a monthly sales increase and gaining ground on Daimler AG’s Mercedes-Benz. Deliveries of the X3 and X5 sport utility vehicles climbed 43 percent and 35 percent last month, respectively, pacing BMW’s total sales of 31015 vehicles. The Munich-based automaker outsold Mercedes by about 1900 units in March. As plummeting demand for passenger cars led most automakers to miss analysts’ estimates last month, BMW managed to keep deliveries of its 3 Series and 5 Series models roughly flat compared...
The so-called Big Three automakers reported March sales that were weaker than expected. The declines for Ford, GM, and Fiat Chrysler happened as consumers bought fewer sedans and more SUVs. Total vehicle sales rose at a seasonally adjusted annual rate of 16.63 million. That was short of the forecast for 17.30 million.. Here's the scoreboard:Nissan: 3% (2.8% expected)Ford: -7.2% (-5.9% expected)GM: 1.6% (7% expected)Fiat Chrysler: -5% (0.4% expected)Toyota: -2.1% (-1.2% expected)Subaru: 11.3%BMW: 3.5%Volvo: 9.3%Automakers shares slid in trading following the numbers. Ford fell by...
The U.S. auto industry turned in an underwhelming performance in March as sales disappointed despite rising discounts. The industry reported sales of 1.56 million vehicles for the month, down 1.6% from a year earlier, amid increasing inventories of unsold vehicles, especially of small cars. In the face of declining sales, now it's up to automakers to see if they can pare production of slow-selling models and reduce the profit-crushing practice of having to offer heavy discounts to clear out the backlog. Sales incentives rose 13.4% in March, compared to a year earlier, to an average of $3,5...
