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Strong US and China car sales and a drop in costs for the faulty ignitions recall helped General Motors double profits in the third quarter. The sales in the two biggest GM markets helped the company offset ongoing slumps in Europe, South America and elsewhere. With unit sales up 3.8% from a year ago to 2.42 million cars and trucks in the quarter, helped by a 17.3% jump in China. The company meanwhile warned that its hopes for a return to stability in Europe were at risk to fallout from Britain's vote to pull out of the European Union, including the weak pound. Breaking eve...
Honda CEO Takahiro Hachigo expects his company's U.S. sales to grow next year even as the market flattens, putting more pressure on North American production capacity that already is stretched to the limit. As a remedy, he soon may fire up Honda's Japan export engine. In an interview Hachigo said a blitz of key redesigns, starting this fall with the redesigned CR-V and continuing with updates to the Odyssey and Accord, will intensify the capacity problem. Takahiro Hachigo said that if they reach 1.7 million U.S. sales this year, then they will probably add on top of that nex...
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...
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...
The latest car sales data shows that in September 2016, the sales volume of entry-level luxury cars in the US fell 17.4% year-over-year (or YoY) to 49,118 vehicle units. We should say that it is a significant decline. For the same period, the sales of entry-level luxury SUVs rose 12.6% YoY to 54,145 units, and the sales of entry-level sports cars fell 9% YoY to 25,408 units. Top car models in these entry-level luxury and sports vehicle segments were the BMW 3 Series, Mercedes-Benz C-Class, Lexus RX, Ford Mustang, Chevrolet Camaro, and Dodge Challenger. A total of 11,590 mid-range lu...
