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August U.S. auto sales will be 5.2 percent below a year ago, taking into account that the peak of industry sales was in 2015. Jeff Schuster, head of forecasting at LMC, said that with mixed economic signals, it certainly looks like U.S. auto sales may have peaked in 2015. He also considers that it is important to focus on the sustainable high level of demand. Peak does not mean doom and gloom, and while the industry faces risk, it is not destined for a pullback. The consultancies said they expect August U.S. total auto sales of 1,492,700 vehicles, from 1,574,938 a year earlier. Auto...
Two months after agreeing to a $14.7 billion deal with federal regulators over its cheating on diesel emissions tests, Volkswagen has reached another settlement covering its 650 U.S. dealers.The maker will pay $1.2 billion over the next 18 months to cover the losses dealers claim to have run up as a result of the scandal, in large part due to a sharp drop in the maker's sales. Along with cash payments, VW will provide "additional benefits" to those dealers. ‘‘They have cars on their lots they can’t sell,’’ Steve W. Berman, the lawyer for t...
In July 2016, manufacturing output, as reflected in the industrial production index, rose to 103.6 compared to 103.1 in June. Among other factors, improvements in motor vehicles and parts production were reported. While the overall index rose by 0.5%, the manufacturing of durables such as motor vehicles and parts, wood products, and miscellaneous goods rose by more than 1% in July. Motor vehicle and parts manufacturing are some of the key components of the industrial production index. Therefore, a rise in industrial production also indicates robust production growth in the auto indu...
Luxury automaker Lamborghini expects to at least double production to 7,000 vehicles a year by 2019 once it rolls out a new SUV, but it will not lose its focus on making sports cars, Chief Executive Officer Stefano Domenicali said Tuesday. Domenicali said the company plans to cap yearly production of its supercars at 3,500. He also expects SUV production will be at least as high but could be higher depending on demand. The SUV, based on the Urus concept, will go on sale in 2018 starting at around $200,000 and will be built alongside the Huracan and Aventador supercars at the brand's ...
Mercedes-Benz USA is now making some major changes in its working plan, and most importantly it is shuffling some senior managers to new jobs. After it was revealed that its sales in the country were less than predicted, in order to fix the problem the most dedicated persons got higher positions in the company. Bart Herring has become the general manager of sales operations, overseeing the development and implementation of all policies, programs and activities in support of new-vehicle sales and objectives. He will also head up sales volume planning. For a long time Herring was the ...
