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Yes, this year will go down as another big year for the U.S. auto industry. The question is whether it will go down as another record year. Following a strong November showing, total U.S. sales through 11 months this year have surpassed those through the same point in 2015, which went down as the strongest sales year on record. But the difference is razor-thin – just 6,418 units. J.D. Power and LMC Automotive, in a forecast released Thursday, said 2016 should reach 17.5 million vehicles sold, breaking 2015's annual sales record by only about 26,000 units. That would mark a...
According to the new electric vehicle charger operator report, more than 500,000 electric cars have been sold in the United States. Between November 2015 and November 2016 were sold 30,000 plug-in hybrid or battery-powered electric vehicles. California, home of Silicon Valley and Tesla, has the highest number of electric vehicles in operation, ahead of Georgia, Washington, Florida and Texas. Tesla received 276,000 pre-orders for the “mass-market” Model 3 within two days of it going on sale in April, making it the most popular electric car ever produced Tesla t...
Automakers are on pace to build more new cars and light trucks in 2016 than in any other year, but efforts to reduce bloated inventories next year could lead to North America's first production decline since the Great Recession. Record car sales paces in the U.S., Canada and Mexico have kept plants busy. About 15 North American plants reportedly were running overtime through last week, nearly four times as many as the same period a year ago. Most of those plants build trucks. But automakers are already preparing for a production reckoning in 2017. Ford Motor Co., General Motors ...
As consumers keep snubbing sedans despite record consumer discounts, the U.S. auto sales will probably decline slightly for December. Specialists forecast manufacturers' discounts offered to close sales would hit a record high of more than $4,000 per vehicle in December. The consultancies estimated sales at 17.5 million vehicles on a seasonally adjusted annualized basis this month, flat with a year ago. Detroit automakers are moving to cut production of certain vehicles, particularly small and mid-sized sedans, as they concede that the market is hitting a plateau where the...
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...