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Another month, another drop in U.S. new-vehicle sales. Specialists are convinced that U.S. June car sales will mark the sixth consecutive year-over-year decline, which is going to be the worst half of a year since 2014. For June, forecasts from the most popular companies show sales coming in about 2 percent to 4 percent less than a year ago. The projections translate to a seasonally adjusted, annualized selling rate of 16.3 million to 16.6 million, which would be the lowest monthly rate in more than two years. GM, Toyota Motor Sales U.S.A., American Honda and Volkswagen Group of Ame...
McLaren Automotive has been rumored to be bought by Apple back in 2016, but why sell a company which does so well on its own? Of course the car maker isn’t planning to do any of this, because its lineup brought it to record profitability and sales in 2016. The automaker reported Thursday that pretax profits for 2016 were 9.2 million pounds ($11.9 million) on revenue of $844.7 million. That's a 70 percent increase from 2015 profits and marks the fourth consecutive year of profits for the independent McLaren brand. Much of the company's higher profit tally in 2016 reflec...
402,462 Transit vans were issued for recall by Ford Motor Co., this problem will cost the automaker $142 million. Ford says the vans recalled have a faulty driveshaft flexible coupling, which might lead to the separation of the driveshaft, and it could result in a loss of power, unintended vehicle movement and damage to brake and fuel lines. Ford is not aware of any accidents or injuries related to the Transit issue. Ford disclosed the cost of the recall in a Wednesday filing with the U.S. Securities and Exchange Commission. The charge will be incurred in the second quarter results of the...
We were already convinced Austin won’t be affected by the US car market getting cooler, since it had such a great 2017 start, but it seems like nothing’s forever. According to sales at Austin dealerships consumers bought only 10,919 new vehicles during this month, comparing to 11,183 cars the same month last year. The recent slowdown is in contrast to the first two months of the year, which saw booming sales. January car sales were up 10.4 percent and February sales surged 22.4 percent over the same months in 2016. Thanks to that strong start, through the end of May...
Analysts say that U.S. auto sales in June will likely fall 2 percent from a year earlier despite large discounts for consumers, presenting a fresh sign that automakers are heading into a downturn. June U.S. new vehicle sales will be about 1.48 million units, a drop of 2 percent from 1.51 million units a year earlier. The forecast was based on the first 15 selling days of the month. Automakers will release June U.S. sales results on July 3. The seasonally adjusted annualized rate for the month will be 16.5 million vehicles, down nearly 2 percent from 16.8 million units in the same mo...
