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Harald Krueger says BMW Group will stick to its investment plans for Mexico and the United States despite warnings from President Donald Trump to impose border taxes on cars imported into the U.S. BMW said last month that it plans to finish construction of a new $1 billion plant for its 3 series in Mexico undeterred by threats from the president that he will introduce heavy tariffs on cars imported into the U.S. from its southern neighbor. Krueger claims that they need free world trade. BMW would also continue to invest in its Spartanburg plant in the U.S., its largest worldwide. BM...
Let’s expect flat U.S. auto sales for the month of January, cause there are no hopes or reasons for them to be different. A very high level of incentives is sustaining U.S. automobile sales on a high plateau. This January the average spending per unit was $3,614, which means it’s up $232 from January 2016, not a bad result though considering the expectations we had. High prices match the high level of incentives. The average new-vehicle retail transaction price in January was $31,473, a record for the month. That’s the total price, net of incentives. It would be a ...
This may surprise you, but Volkswagen has become the world’s biggest car manufacturer, overtaking Toyota in the number of new vehicles sold in 2016 despite the damage it suffered in the diesel emissions scandal. Toyota had been the biggest seller for the past four years but its 2016 sales total of just under 10.2m vehicles, fell short of the more than 10.3m cars sold by VW. General Motors is reporting its 2016 sales next week, but industry analysts said it had no chance of overtaking VW. GM was third behind VW last year and held the top spot in 2011, when Toyota’s produc...
If economists and remarketing experts are correct, 2017 will finally be the year of significant declines in used-vehicle prices. It's a trend that has been a long time coming. Similar predictions were made in 2015 and 2016 by those same experts. Instead, used-vehicle prices held relatively stable at or near record levels for the past few years. Various indexes that monitor used car pricing showed slight dips in used values last year, though they remain well above pre-recession levels. Strong demand for new and used light trucks, a growing market for certified pre-owned vehicles ...
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...
