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Even with a booming U.S. car market, the only safe jobs of late have been building pickups and sport utility vehicles. But it seems like, these jobs aren't that safe anymore since already two automakers decided to stop producing at their few plants in USA and Canada. Within the next month, General Motors Co. plans to permanently cut about 3,300 employees at three car plants, as the largest U.S. automaker slashes production of models including the Chevrolet Cruze compact. The Detroit-based company also plans to temporarily lay off employees across five of its U.S. car factories, ...
Northern Ohio auto dealers in November broke a recent cold streak, as vehicle sales rose nearly 6% from the like month a year ago. Powered by strong sales of trucks and SUVs, new vehicle dealers sold 18,692 last month, up 5.8% from 17,661 in November 2015. November sales rebounded with a showing of strong truck sales coupled with cars virtually flat with 2015. Continuing a trend seen for the last 11 months, truck and SUV sales drove the market, with dealers selling 7,468 units last month compared to 6,359 units in November 2015, an increase of 17.3%. New car sales were flat with la...
The US car buyers are showing signs of fatigue, raising concerns over the broader outlook for consumer spending—a key engine of U.S. Growth. Sales of light vehicles in the U.S. have increased for six straight years, touching a record 17.5 million units in 2015, and are potentially on track for another record this year. But sales now appear to have plateaued, leading to a buildup of inventory and a return to discounting—something auto makers swore off when emerging from the recession. Dealership sales, measured in dollars, fell a seasonally adjusted 0.5% in November from ...
Fiat Chrysler dealers will have to wait a bit longer for two highly anticipated big-ticket vehicles: a fully redesigned Ram heavy-duty pickup and a luxury SUV for Jeep, the Grand Wagoneer. It became clear that FCA's Ram brand will not redesign its current heavy-duty pickups onto its new DT pickup platform in 2018 but instead will keep the same body-in-white and refresh the existing DS-based model. Meanwhile, the automaker has placed a hold on its development of the Jeep Grand Wagoneer luxury SUV. The vehicle has been on Jeep's product plan since 2014 and was to boast three r...
Global car sales have a big chance to set another record year. This extends gains to a seventh consecutive annual record and surpasses the previous upcycle which lasted six years. Purchases will be buoyed by improving labour markets at the fastest pace since early 2007 and a bottoming in purchases across emerging markets. Economic growth in developing countries is expected to pick up for the first time since 2010, helping reverse last year's slide in car sales which was driven by sharp contractions in both Russia and Brazil. Low gasoline prices, improving household balance sheet...