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U.S. car sales rose more than we were expecting it will be in November, we had an increase of 3.7% of the industry sales, it shattered a record for the month that was set in November 2001. Auto sales rose at a seasonally adjusted annual rate of 17.87 million. Economists had estimated that sales rose at a 17.7 million rate. The sales were aided by two extra selling days from a year ago and fueled by Black Friday promotions and while there was concern about shaken consumer confidence after Donald Trump was elected president earlier in the month, car buyers apparently did not hold back.&nbs...
U.S. District Judge Charles Breyer on Tuesday delayed a court hearing set for Wednesday on Volkswagen Group's plan to address 80,000 polluting Audi, Porsche and VW 3.0-liter vehicles. In a court order, Breyer said negotiations are continuing between the German automaker, regulators and lawyers representing owners, and he set a Dec. 16 hearing, saying he had been advised that a delay "may produce a resolution of the outstanding issues." VW had reached an agreement with U.S. regulators for a mix of buybacks and fixes for the 80,000 vehicles, but still needed to reach agreement on o...
In just a few hours car companies will reveal their sales results for this November and we expect them to be not so bad since they had many chances to increase their income due to Thanksgiving holidays. We project a total U.S. vehicle sales for this month, including fleet and deliveries to hit 1.367 million units,, which is up 3.6% from the same period last year. On a daily selling rate basis, adjusted for the extra sales days, we expect transactions to decline by upward of 4.7% year over year. And excluding fleet sales, deliveries made to rental-car companies and other bulk buyers,...
Ontario plans to become the first province to allow self-driving vehicles to be tested on public roads. Testing of autonomous or self-driving vehicles can begin as early as Jan. 1, as Ontario seeks to grab a share of the billions of dollars auto makers, parts companies and technology giants are spending to develop cars that drive themselves. The province’s move will create better opportunities for Canadian companies to test components and show automakers their technologies. The prospect of self-driving cars was believed to be decades away, but tech companies and automakers are...
Black Friday sales and the start of year-end deals are helping, but can’t quite disguise that in all probability, retail demand for autos actually softened in November. That’s despite a near-record average discount of $3,886 per unit, up 15% from November 2015. On Thursday, Dec. 1, U.S. automakers are expected to report November sales. The good news is, sales may be softening, but that’s compared with record levels last year. On a pessimistic or realistic note, depending on your point of view, retail auto sales are expected to decline about 2% in November 2016 vs. ...
