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Auto Industry News
Germans Set Bar In U.S. Auto Exporting
By Dale Buss December 13, 2011When Fiat and Chrysler CEO Sergio Marchionne announced recently that Fiat would be plunging $1.7 billion into a new version of the Jeep Liberty, including $500 million to upgrade and expand the Jeep operations in Toledo, Ohio, the ramifications could be felt like a mini-Vesuvius all the way to Italy. To an extent that few would have predicted just two years ago, Fiat currently is hurting from the economic implosion of Europe while Chrysler keeps picking up speed thanks to its proven opportunism amid a slowly-building recovery in America. And when it comes to most effectively exploiting the advantages more
Oklahoma Sales Booming, So What's Up With Texas?
By Dale Buss December 10, 2011New-vehicle sales in Oklahoma and North Dakota are booming, which is understandable as those states are flush with new oil-and-gas development these days. Equally sensible is what new-car registration figures tell us about the awful economies of California and Michigan. But why aren’t sales also spiraling upward in energy-rich Texas? And why has Iowa managed flat sales over the last four years when most of the rest of the Midwest has performed poorly on a relative basis? These are among the interesting economic glimpses contained in R.L. Polk new-car sales-registration data that has been analyzed by Edmunds.com. more
Cash Is King, And Big Three Hope To Reign Long
By Dale Buss December 10, 2011Of all the hopeful markers of their renaissance, the cash stockpiles now being nurtured by General Motors Co. and Ford Motor Co. may be the most indicative of all. Because of their quick swing back to profitability in the wake of the GM and Chrysler Group LLC bailouts, wide-ranging reductions in structural costs, layoffs of thousands, union concessions and a fledgling global recovery, the Detroit Three – and their respective balance sheets – are in the best position in decades to bring renewed financial resources to bear in ways that will make a long-term difference. But the flush coffers more
Incentives Reveal Lux Sales Title Ambitions
By Dale Buss December 7, 2011If BMW North America Inc. and Mercedes-Benz USA Inc. really aren’t all that concerned about winning the 2011 race for first place in the U.S. luxury market, both brands and their dealers are doing a pretty poor job of demonstrating indifference. As they near the December 31 finish line with BMW holding about a 1,500-unit lead over Mercedes, the No. 2 brand is said to be pulling out a lot of stops in an attempt to usurp BMW. Natural disasters in Asia that deeply cut into Toyota Motor Corp.’s manufacturing ability make it inevitable that Lexus will concede the more
Hybrid Sales Soar In November
By John O'Dell December 6, 2011Propelled by healthy inventories, increased incentives and a slight uptick in consumer confidence and willingness to make big-ticket expenditures, November sales of conventional and plug-in hybrids and battery-electric vehicles hit an eight-month high of 27,897, soaring 34 percent above advanced-drive vehicle sales for November 2010. Most of the gain came from increased sales of the segment-leading Toyota Prius (above) and its Lexus cousin, the CT200h. Sales of General Motors’ Chevrolet Volt plug-in hybrid and Nissan’s Leaf EV also added to the month’s showings as did the presence in the market of several conventional and micro- hybrids that weren’t available more
Does November Surge Set Sales Stage for '12?
By AutoObserver Staff December 1, 2011November auto sales in the United States posted the best monthly sales rate since the anomalous surge in August, 2009, related to the federal government’s Cash-for-Clunkers program. Industry sales rose by 14 percent overall in the month, to about 994,000 units, propelled by broader availability of vehicles to meet American consumers’ “pent-up demand,” some signs of collective economic confidence and continued moderation in gasoline prices and interest rates. Black Friday and the accompanying shopping mania across the United States likely even contributed. The Seasonally Adjusted Annual Rate (SAAR) of sales for the month was 13.6 million. more
November 2011 Auto Sales By Automaker
By AutoObserver Staff December 1, 2011The seasonally adjusted annualized rate (SAAR) for U.S. November 2011 auto sales came in at 13.6 million. Total sales are 994,176 vehicles. more
November Car Discounts More Flash Than Cash
By AutoObserver Staff December 1, 2011Despite all of the promotions and advertisements suggesting otherwise, November automaker incentives are estimated to be at the lowest November level since 2002, according to an analysis of Edmunds.com’s True Cost of Incentives (TCI), though they did increase last month from October. The average TCI in November was $2,253 per vehicle, up 4.5 percent from October, but down 8.6 percent from November of last year. This marks the lowest average November spending since automakers averaged a mere $1,865 in incentives in 2002. more
November Car Sales Coming In Strong
By Michelle Krebs December 1, 2011November car sales, boosted by robust Thanksgiving weekend, appear to be coming in every bit as strong as analysts and automakers had projected. Edmunds.com forecasts when the final tally is completed Thursday, total November car sales will stand at 991,296 for a 14-percent increase from last November. That would put the November Seasonally Adjusted Annual Rate (SAAR) of car sales at 13.6 million vehicles, the highest rate of the year and the highest since the Cash for Clunkers-incentivized August 2009. more