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Volvo was doing really good in 2016 and its revealed double-digit earning improvements proves that. The automaker forecasts a fourth consecutive year of record sales for 2017, in this goal it will be helped by the arrival of new models such as second-generation XC60 and the all-new XC40. Operating profit rose 66 percent to 11.0 billion Swedish crowns ($1.24 billion) and revenue increased 10 percent to 180.7 billion crowns. That helped improve the automaker's profit margin to 6.1 percent compared with a 4 percent margin in 2015. Since being bought by China's Zhejiang Geely Ho...
Ford dealers and Ford executives sounded a typically optimistic note at this year's National Automobile Dealers Association convention here, based on record U.S. auto sales in 2016 and growing confidence that even if auto sales decline a bit in 2017, they won't decline much. Dealers are concerned about a drop in car sales as opposed to trucks, but all in all he said dealers are happy with Ford's current product lineup. They do have concerns about car models – as the whole industry does – as to what the public wants. Forecasts for 2017 call...
Tesla Motors Inc. reported fourth-quarter deliveries that fell short of its own forecasts as production delays continue to plague the carmaker led by CEO Elon Musk. The Palo Alto, Calif.-based maker of electric cars and energy-storage products delivered about 22,200 vehicles in the final three months of last year, according to a statement Tuesday. The total trailed the automaker’s projection for 25,000 units and brought its full-year tally to 76,230 vehicles, below its forecast for at least 80,000 units. Musk has a history of setting ambitious targets and timelines for Tesla a...
While U.S. auto sales are likely to set a record before 2016 draws to a close as it beats last year's mark of 17.5 million new cars and trucks, 2017 probably won't fare as well. In fact, it may surprise many people as Ford, Fiat Chrysler Automobiles and General Motors are already closing production plants. Although last year's record will be broken, there's already a decrease in sales this December and forecasts say that the trend will continue throughout 2017. Apparently the three largest manufacturers in the country, Ford, General Motors and FCA, are already gettin...
It seems like U.S. auto sales are on pace for the strongest November ever, four forecasters say, breaking the industry’s streak of three consecutive monthly declines and keeping open the possibility that 2016 can squeak ahead of last year’s record. Big promotions over the long Thanksgiving weekend and two extra selling days in the month are expected to push sales up 4 percent from November 2015. Some companies are projecting 5 percent increase, while others estimate a 2.7 percent gain. The forecasts call for a seasonally adjusted, annualized selling rate of 17.6 million ...
