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Auto sales slowed in April because of the continuing decline in demand for compact cars and sedans are setting a dark tone as car makers head into the summer selling season. Car sales decreased more than 5% this month compared with the same period last year, analysts think this is partially because there were two fewer selling days this month. Oil prices going up and credit conditions getting tougher create concerns for car maker’s executives. Pickup trucks and sport-utility vehicles continue to perform well amid relatively low fuel prices. But gasoline is continuing...
As consumer demand continued to weaken, the most powerful automakers have revealed their car sales for April 2018, and the results weren’t as good as expected. Auto sales have been on a bit of a roller coaster ride this year, with a weak performance in February followed by a jump in sales for some automakers in March.Ford Motor posted a 4.7-percent decline in sales, with retail sales to consumers down 2.6 percent. The No. 2 U.S. automaker said sales of its popular pickup trucks were up 0.9 percent, but SUV and passenger car sales were down 4.6 percent and 15 percent respectively.Nis...
As pressures mount on the industry despite rising vehicle sales, climbing technology costs, raw materials and global currency shifts ate into profits at the world’s carmakers. The US car market seems to recover, thanks to the sales increase in the first quarter.German groups Volkswagen and Daimler saw material and commodity costs deflate their earnings, while smaller operators Volvo and Mazda flagged rising technology and marketing spending for their profit drops. The outlay from launching new vehicles also took tolls on Fiat Chrysler, General Motors, Volvo and Daimler, with higher marke...
Only a few hours left until General Motors reports its first-quarter 2018 earnings results, and here’s what to expect. Analysts think GM will report first-quarter earnings of $1.28 per share, on average, down from $1.75 in the first quarter of 2017. They expect GM's revenue to come in at $34.6 billion, down from $41.2 billion a year ago.The reason of the huge drop is that GM sold its European subsidiary, Opel AG, in a transaction that closed early in the third quarter of 2017. On a "continuing operations" basis, excluding Opel's results, GM generated $37.3 billion ...
Ford said on Wednesday that the only passenger cars that it plans to keep on the North American market will be the Mustang and the upcoming Ford Focus Active which is a crossover-like hatchback that is due in 2019. That means that the regular Focus, Fiesta, Taurus, and Fusion won’t be available in the United States and Canada. Ford will continue to offer its full spectrum of SUVs, trucks, and crossovers. By 2020, almost 90 percent of Ford’s portfolio in North America will be trucks, utilities, and commercial vehicles. The car manufacturer is exploring new vehicle models ...
