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Auto sales slowed in April because of the continuing decline in demand for compact cars and sedans are setting a dark tone as car makers head into the summer selling season. Car sales decreased more than 5% this month compared with the same period last year, analysts think this is partially because there were two fewer selling days this month. Oil prices going up and credit conditions getting tougher create concerns for car maker’s executives. Pickup trucks and sport-utility vehicles continue to perform well amid relatively low fuel prices. But gasoline is continuing...
It seems like Nissan isn’t doing as great as we thought. Its sales went down due to high costs from improper final inspection procedures at home and higher discounts in the U.S.. Nissan's quarterly operating profit was 82.4 billion yen ($752 million) between October and December, down from 163.51 billion a year earlier. The automaker took a 39.6 billion yen hit in the quarter due to costs related to improper procedures for final inspections on vehicles produced at its Japan plants, while U.S. marketing and sales expenses, which include incentives, cost the automak...
Four years ago, CEO Masamichi Kogai predicted Mazda would be notching annual U.S. sales of 400,000 cars by now. Instead, it is in a second-straight year of decline, with volume under 300,000 and market share retreating from an erstwhile goal of 2 percent. Now Kogai claims the U.S. resurgence will start in earnest in 2019 and kick into overdrive in 2021 when Mazda adds an all-new crossover designed for and built exclusively in the U.S. Giving first details of the new nameplate in a Nov. 16 interview, Kogai said it has potential to be the brand's best-seller. He said it would slot...
Heading into the final 2 months of the year, we’ve got some records on the line for the U.S. automotive industry. Japanese automakers are battling for the titles of America’s best selling cars and crossovers, and the overall industry could record a third straight 17 million-unit year for the first time ever. The overall industry this year has shown some restraint on incentives, but spending has steadily increased amid leveling average transaction prices. Expect incentive spending for the year to be up 11 percent through October to an average of $3,624 per vehicle, includi...
Volkswagen sales were up 12 percent to 27,732 on growing sales of its new crossover lineup. Audi extended its industry-best sales streak to eight consecutive years, rising 9.6 percent to 19,425 with strength from its Q5 and Q7 crossovers. Brands: VW up 12%; Audi up 9.6%.Notable nameplates: Audi Q5 up 44%; Audi A5 up 252%; Audi Q7 up 23%; VW Passat down 37%; VW Atlas (new) 3,664 sales; 2018 VW Tiguan (new) 3,848 sales.Incentives (including Porsche): $3,597 per vehicle, down 6.7% from a year earlier.Average transaction price (including Porsche): $36,265, up 2.5% from a year earlier.&n...
