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Mini executives want the brand's U.S. dealerships to pursue used-car sales with more vigor. Higher used-car sales would help Mini and its retailers at a time when new-car sales have slumped. So Mini USA launched a program at the beginning of the year that pays dealerships bonuses for hitting used-car sales targets. Each Mini store gets a customized target. If a store hits its target, it will receive additional margin of 1 percentage point of the vehicle's sticker price on each new-car sale. Thomas Felbermair, vice president of Mini Region Americas claims that the used-car bu...
Since the US auto sales were steadily rising, they have helped the country to recover economically, but now as the car sales drop and the economy is also under pressure. US carmakers have started to idle workers for months at a time.Trump has touted the auto sector - which he previously lambasted for moving production to Mexico - as proof of his programme's success. "We're going to have expansion," he told reporters last week. Following seven years of steady growth that led to sales records in 2015 and 2016, deliveries of new vehicles in the US dropped 4.7 per cent...
We’ve been a bit worried about the car market after Ford Motor announced that it plans to cut 10 percent of its salaried workers. General Motors didn’t show better results, it reported a 4.7 percent sales drop on April, just like Fiat Chrysler who might get sued for using illegal software which violate the U.S. clean-air rules. We’ve been trying to understand the reasons for the slump, and here’s what we got: Demand has peaked. Last year, there was a record vehicle sales volume of 17.55 million. But the National Automobile Dealers Association forecasts ...
When news leaked out Tuesday that Ford Motor would cut 10 percent of its salaried workers, it underscored how the auto industry's strong sales are slipping after years of consecutive growth since the Great Recession. In April, the industry reported a 4.7 percent sales drop. General Motors, Fiat Chrysler and Ford showed declines of 7 percent or more in sales. Japanese car companies also were off in the North American market, although not as much. As vehicle demand has ebbed, automakers find themselves dealing with bloated inventories. At the end of April, GM had enough vehicles ...
Ford Motor Co. is doing its best to fight the downturn in the car market but it’s not that easy, and it seems like it’s not that easy, and the fight is almost lost. The major American automaker is preparing for major reductions to its worldwide workforce amid CEO Mark Fields’ renewed efforts to hike profits and address the company’s falling share price. Ford plans to shrink its salaried workforce in North America and Asia by about 10 percent, and will offer generous early retirement incentives to reduce its salaried ranks by Oct. 1, but the company does not p...
