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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...
U.S. new-vehicle sales are expected to rise very slightly in May from a year ago, narrowly snapping the industry's streak of four consecutive monthly declines. Analysts expect 2017 sales of 17.2 million, 2 percent fewer than the record 17.55 million sold last year. The annualized selling rate is projected to be less than 17 million for a third consecutive month, more evidence that the market has passed its peak. That would mean the industry will already have had as many sub-17 million months in 2017 as it did in each of the past two full years. Other forecasts project sales-volu...
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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 ...
