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As 2016 is almost over, the U.S. auto market is on the verge of setting a new sales record, beating last year's mark of 17.5 million new cars and trucks. Auto sales have been booming for several years, powered by a combination of cheap gas, easy credit, and pent-up demand. And with the unemployment rate now below 5%, there are plenty of Americans who now need a reliable, technologically up-to-date vehicle to get to and from work. Although some analysts think the market has plateaued and that there's no more growth to be had, the fundamentals point to continued strong sales b...
Even with a booming U.S. car market, the only safe jobs of late have been building pickups and sport utility vehicles. But it seems like, these jobs aren't that safe anymore since already two automakers decided to stop producing at their few plants in USA and Canada. Within the next month, General Motors Co. plans to permanently cut about 3,300 employees at three car plants, as the largest U.S. automaker slashes production of models including the Chevrolet Cruze compact. The Detroit-based company also plans to temporarily lay off employees across five of its U.S. car factories, ...
The US car buyers are showing signs of fatigue, raising concerns over the broader outlook for consumer spending—a key engine of U.S. Growth. Sales of light vehicles in the U.S. have increased for six straight years, touching a record 17.5 million units in 2015, and are potentially on track for another record this year. But sales now appear to have plateaued, leading to a buildup of inventory and a return to discounting—something auto makers swore off when emerging from the recession. Dealership sales, measured in dollars, fell a seasonally adjusted 0.5% in November from ...
Global car sales have a big chance to set another record year. This extends gains to a seventh consecutive annual record and surpasses the previous upcycle which lasted six years. Purchases will be buoyed by improving labour markets at the fastest pace since early 2007 and a bottoming in purchases across emerging markets. Economic growth in developing countries is expected to pick up for the first time since 2010, helping reverse last year's slide in car sales which was driven by sharp contractions in both Russia and Brazil. Low gasoline prices, improving household balance sheet...
Tata Motors' Jaguar Land Rover November 2016 US sales included a 217% year on year rise in Jaguar volume to 3,381 units. Land Rover sales reached 5,659 units, the second highest November on record but down 13% from the record 6,539 units in November 2015. Sales for both brands rose 19% to 9,040 units, a JLR US market record for the month. Year-to-date JLR US sales rose 23% to 92,531. Joe Eberhardt, president and CEO, Jaguar Land Rover, North America, said that the company is proud to report a 19% unit sales increase for Jaguar Land Rover for the month, and a 23% increa...
