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The U.S. auto sales forecast in 2016 remains at 17.4 million vehicles, but with a bias toward the upside. That would allow a new record beyond last year's record of 17.39 million vehicles or 17.47 million vehicles. Next year is pivotal for the auto industry, due to the chance of an economic stimulus plan under a Donald Trump presidency and the likelihood that attractive consumer discounts, or incentives, are pulling some 2017 sales into the current year. The U.S. economy and auto industry could be facing a boom or bust, depending on which policies are focused on and implem...
Americans spent briskly at retailers in recent months, supporting hopes for a strong holiday shopping season and giving the economy momentum. Retail sales- measuring spending at restaurants, clothiers, online stores and other shops- rose 0.8% in October from the prior month, the Commerce Department said Tuesday. Sales grew 1% in September, revised figures showed, up from a previously reported 0.6% increase. Those gains marked the best two-month stretch of sales in at least two years. September and October are shaping up to be the best two-month stretch for retail sales since early 2...
Bad news don't come alone, so as the car sales decline from month to month, General Motors said it will lay off 2,000 workers because of slowing car sales even as it makes new investments in its plants. GM said it plans to cut the third shift at its Lansing Grand River Assembly Plant in Michigan and Lordstown Assembly Plant in Ohio in January because sales of cars made at those plants are declining. The automaker assembles the Cadillac ATS and CTS and the Chevrolet Camaro at its plant in Lansing and makes the Chevrolet Cruze at its plant in Lordstown. GM had a slight increase in...
Ford Motor Co., looking to bounce back from a 12% sales decline in October, has launched a Black Friday clearance sale several weeks before those sales typically take place. The automaker is offering $1,000 “Black Friday Cash” rebates on 2016 and 2017 model-year vehicles, in addition to other offers. For years, automakers didn’t aggressively participate in Black Friday merchandising, instead relying on year-end clearances. In addition to tagging its sale as a Black Friday promotion, Ford is also calling the sale a “year-end event.” A spate of Black Frid...
BHP Billiton is hot for electric vehicles. The Australian resources giant, which mines metals and coal used for both steelmaking and fueling power plants, is increasingly optimistic that there will be a surge in demand for some of its products as consumers opt for electric vehicles and other renewable energy technologies. Fiona Wild, BHP’s vice president, says that as we see more renewables and EVs, we also will see an impact on copper demand. One million EVs were sold between 2010 and 2015, largely driven by regulatory mandates in important auto markets including the US, Chi...
