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To clear out bulging inventories of unsold cars and dispel investor doubts about consumer demand, automakers in the United States are ramping up holiday sales promotions ahead of Black Friday. Detroit automakers need a strong year-end sales push. They are sitting on hefty inventories of unsold sedans, compact cars and sports cars as consumers shift to pickup trucks and SUVs. The share prices of General Motors, Ford Motor, and Fiat Chrysler Automobiles NV are flat to down for the year. This reflects investor concerns that a six-year auto sales boom in the United States is reaching an end and th...
How far has the U.S. market tilted toward pickups, SUVs and crossovers? Automakers are on pace to sell more than 10 million light trucks in a single calendar year for the first time. Meanwhile, car sales are on pace to fall below 7 million this year for the first time since 2011 and only the fourth time since 1962. So while it's increasingly unlikely that 2016 will beat last year's record for total light-vehicle volume, sales of the big vehicles that generate the bulk of many automakers' profits are at an all-time high. From that perspective, with gasoline prices expect...
Ford Motor Co., looking to bounce back from a 12% sales decline in October, has launched a Black Friday clearance sale several weeks before those sales typically take place. The automaker is offering $1,000 “Black Friday Cash” rebates on 2016 and 2017 model-year vehicles, in addition to other offers. For years, automakers didn’t aggressively participate in Black Friday merchandising, instead relying on year-end clearances. In addition to tagging its sale as a Black Friday promotion, Ford is also calling the sale a “year-end event.” A spate of Black Frid...
This October as predicted is another month to set low U.S. car sales. The car sales numbers will fall below the same month a year ago despite a relatively high level of incentives car sales are especially on the decline, as opposed to trucks, a category that includes pickups, SUVs, crossover SUVs and minivans. Based on online shopping, we are expecting total U.S. auto sales, including cars and trucks, to fall about 6% in October. The fact that October 2016 had fewer official “selling days” than October 2015, and sales were especially strong a year ago contributed to a po...
U.S. auto sales have been really strong this September, but it seems like this year dealership traffic appears to have lowered after more than six straight years of steady growth. Almost all the automakers: General Motors, Ford, Fiat Chrysler and Honda reported declines, but Asian counterparts like Toyota and Nissan managed to register growth.The seasonally adjusted annual rate for September stood at 17.45 million units. Retail sales have eased since solid numbers were seen in the second half of last year. As such automakers are heavily spending on discounts and incentives to keep their f...
