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By saying the U.S. auto market goes down specialists literally ignore the fact that a shakeout normally requires a recession and rising unemployment to poison the market’s health, which by the way isn’t visible yet. Saying the consumer lending is currently in crisis is a wrong path, just like the worries that the U.S. car sales are about to dive by between 1 million to 4 million annually over the next 3 years. The downward spiral can be saved by another government “cash for clunkers” subsidies. A stretched consumer, falling used prices, and technological obso...
Mercedes-Benz USA is lifting a key restriction on Tier 3 local advertising by dealers. Instead of limiting that ad spending to new-car sales, Mercedes will let dealers use the money to promote any area of the business. Ken Schnitzer, chairman of the Mercedes-Benz Dealer Board and owner of four Mercedes-Benz dealerships in Texas, says that they can spend money on new, preowned, service — whatever they think their need is. He thinks that's really a big improvement. The company's U.S. leaders talked to dealers about the change earlier this month at its national dealer mee...
Wall Street is fretting that the U.S. auto industry is heading for a downturn, but for thousands of workers at General Motors factories in the United States, the hard times are already here. Matt Streb, 36, was one of 1,200 workers laid off on Jan. 20 – inauguration day for President Donald Trump – when GM canceled the third shift at its Lordstown small-car factory here. Sales of the Chevrolet Cruze sedan, the only vehicle the plant makes, have nosedived as U.S. consumers switch to crossovers, SUVs and pickup trucks. Streb is looking for another job, but employers are wary because ...
J.D. Power has released its 2017 annual report card on vehicle quality and again the first spot has been taken by Kia. Only 72 problems per 100 Kia vehicles were reported, and that’s despite the shake-up in the 2017 U.S. Initial Quality Study rankings that included significant shifts with the German and Japanese brands -- most notably, Toyota and Lexus -- falling behind many U.S. and Korean car brands. The vice president of global automotive company J.D. Power said that Kia is without question the best quality the world has ever seen. The industry is picking up steam and really impr...
Analysts have been predicting that 2017 will be the year when US car sales will slow down, and considering the low sales presented by the automakers for last month, it’s not that hard to believe them. But, after missing the sales boom on the past two years and serially downgrading their expectations for traditionally automaker stocks while sending speculative investments on profitless Tesla in the stratosphere, they've now lined up to foretell the vast disruption that ride-sharing will bring the business. All this talk about catastrophe and the future of US car sales is be...
