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In the first quarter of 2018 new car sales grew by 12.6 percent over the last year as high consumer confidence and low unemployment favored Houston dealerships. Local car dealers sold 22.278 new cars in March, which is more by 6.4 percent over the last year. However, the average price for a new vehicle fell for the second month in a row to $37,217, which is less by $554 or 1.5 percent. Prices fell in all car categories, cars, trucks, and SUVs. Average prices fell because the market share for trucks and SUVs has fallen. Since SUVs and trucks cost more than sedans, a loss in market sh...
The Chinese government made a surprising announcement that it plans to eradicate the protectionist rules that stop foreign car makers from selling their cars in the country, opening its markets to the capitalist vehicle manufacturers from 2020. Today’s rules state that to sell cars in China without big taxes, car makers need to establish joint venture companies with local firms and can’t own more than 50 percent of its Chinese partner. These measures were introduced by the Chinese government in 1994 trying to promote local companies and limit the already-rich Western aut...
During the last 9 years, more than 800,000 plug-in electric cars were sold in the U.S. Almost half of that number falls on the state of California, which aims for 1.5 million by the year of 2025. Plug-in electric car sales in California are approaching the level of 400,000 vehicles, which is expected to be reached in April. A most recent graphic shows 388,815 sales to the end of March, 12,631 being sold in March alone. California is leading the U.S. in electric plug-in car sales because it is the country’s largest car market, with high wealth and lots of models to c...
New car registration figures for March reveal a sharp drop in sales. The number of sales is 15.7 percent lower compared to the same month last year. A big part of that fall is due to bumper sales in March 2017, as drivers flooded the dealers to beat the then-new road tax system. The old tax model based on carbon dioxide was favorable to diesel cars. That’s because diesel-powered cars emit lesser CO2 than their petrol counterparts. That explains in a way diesel’s decline, with a 37.2 percent fall in sales last month, compared to a fall of 23,5 percent in February.&nb...
Donald Trump proposed a 25 percent tariff on some goods, including automobiles, imported from China. This could put a kink in the plans of Ford, GM, Volvo as well as the Chinese brand Guangzhou Automobile Group, who planned to enter the US market next year. Volvo is importing S60 Inscription since 2015 from China; GM imports the Cadillac CT6 plug-in hybrid and Buick Envision; Ford was planning on starting to build the Focus Compact there and importing it. China retaliated, announcing its own 25 percent tax on imports including chemicals, soybeans, aircraft, and cars...
