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August U.S. auto sales will be 5.2 percent below a year ago, taking into account that the peak of industry sales was in 2015. Jeff Schuster, head of forecasting at LMC, said that with mixed economic signals, it certainly looks like U.S. auto sales may have peaked in 2015. He also considers that it is important to focus on the sustainable high level of demand. Peak does not mean doom and gloom, and while the industry faces risk, it is not destined for a pullback. The consultancies said they expect August U.S. total auto sales of 1,492,700 vehicles, from 1,574,938 a year earlier. Auto...
In July 2016, manufacturing output, as reflected in the industrial production index, rose to 103.6 compared to 103.1 in June. Among other factors, improvements in motor vehicles and parts production were reported. While the overall index rose by 0.5%, the manufacturing of durables such as motor vehicles and parts, wood products, and miscellaneous goods rose by more than 1% in July. Motor vehicle and parts manufacturing are some of the key components of the industrial production index. Therefore, a rise in industrial production also indicates robust production growth in the auto indu...
Luxury automaker Lamborghini expects to at least double production to 7,000 vehicles a year by 2019 once it rolls out a new SUV, but it will not lose its focus on making sports cars, Chief Executive Officer Stefano Domenicali said Tuesday. Domenicali said the company plans to cap yearly production of its supercars at 3,500. He also expects SUV production will be at least as high but could be higher depending on demand. The SUV, based on the Urus concept, will go on sale in 2018 starting at around $200,000 and will be built alongside the Huracan and Aventador supercars at the brand's ...
Global car sales have gained momentum this year, rising a stronger-than-expected 5% through July. While gains are expected to moderate through year-end, strengthening labour markets and improving financial conditions suggest that the upswing will continue in 2017. There are still nearly 50 million vehicles on the road in the United States that were built prior to the new millennium, and as a result U.S. purchases are expected to continue to move higher for the remainder of the year and in 2017. Carlos Gomes, Senior Economist and Auto Industry Specialist at Scotiabank, said that the ...
A Silicon Valley startup called “Otto” has just been bought by Uber, with the goal of putting a fleet of the self-driving trucks on the nation’s highways in as little as two years. At 55 miles an hour, with no one behind the wheel, Otto has tested its technology on closed roads. For test runs on the busy freeway, a safety driver sits behind the wheel, just in case. "We're living in an on-demand era where we all want to press a button and have something arrive as fast as possible. Well, there's a truck behind all of those products." said Lior Ron, cofoun...
