Tesla has steadily sold more cars each new year than it did the year before, with an all-time high of nearly 80,000 in 2016. CEO Elon Musk ambitiously expects to be delivering 500,000 vehicles annually in 2018, with a million to come by 2020.
Category: Auto Dealers
Ford Has Larger Than Expected Decline in February Auto Sales
Ford’s U.S. auto sales were down 4% vs. estimates of a 3.4% decline, during the month of February. Overall Ford sales totaled 208,440 vehicles in February, representing a 4% decline vs. a year ago.
What Do You Buy When Trump Wins? A Bentley
Buyers are feeling more confident about shelling out six figures for a set of wheels as market investors have been on a tear in recent months, pushing the Dow Jones Industrial Average solidly past 20000, on bets that the Trump administration will enact business-friendly policies. Sales of vehicles made by Volkswagen AG’s Bentley, Ferrari SpA , Fiat Automobiles NV’s Maserati, Porsche AG and BMW AG’s Rolls-Royce jumped an estimated 18% since the Nov. 8 U.S. presidential election through January, compared with the same period in 2016, according to Autodata Corp. That far outpaces the gains these upscale brands had been notching through the prior 10 months.
What Do You Buy When Trump Wins? A Bentley
Buyers are feeling more confident about shelling out six figures for a set of wheels as market investors have been on a tear in recent months, pushing the Dow Jones Industrial Average solidly past 20000, on bets that the Trump administration will enact business-friendly policies. Sales of vehicles made by Volkswagen AG’s Bentley, Ferrari SpA , Fiat Automobiles NV’s Maserati, Porsche AG and BMW AG’s Rolls-Royce jumped an estimated 18% since the Nov. 8 U.S. presidential election through January, compared with the same period in 2016, according to Autodata Corp. That far outpaces the gains these upscale brands had been notching through the prior 10 months.
Luxury SUVs Just Did Something We’ve Never Seen Before
Ponder this for a minute: In 2016, luxury sedans were outsold by luxury-brand SUVs. SUVs accounted for 55% of luxury-vehicle sales in the U.S. in 2016, according to figures from Edmunds.com.
Audi China Dealers Demand $4 Billion to Cover Sales Losses
Audi dealers in China are demanding 28 billion yuan to cover losses over the past three years that they blame on the automaker adding too many distributors, potentially worsening a sales decline that saw BMW and Mercedes-Benz overtake the luxury brand last month. The dealers met Thursday in Sanya, China, and issued a statement saying their newly formed group would oppose Audi’s planned formation of a second joint venture in China until the German maker managed to reach 1 million in annual sales in the country.
Group 1 Automotive Raises Quarterly Dividend By 4.3% To 24 Cents a Share
Group 1 Automotive Inc. said Wednesday it is raising its quarterly divided by 4.3% to 24 cents a share.
You’ll Be Surprised at the Size of Ford Motor Company’s War Chest
I’ll say that again: Twenty-seven point five billion dollars. That’s the cash Ford Motor Company had stashed as of December 31 .
Detroit Automakers Slip Amid a Slight January Sales Slowdown
Auto industry sales volume slipped 1.9% year over year in January, from 1.16 million light vehicles sold during January 2016 to 1.14 million last month. On the bright side, January’s seasonally adjusted annualized sales rate of 17.57 million outpaced Wall Street’s consensus forecast of 17.3 million, even if it was slightly below last year’s 17.62 million result.
How Big Beer Companies Exert Their Dominance
They can try to fight the big beer powers , or join forces, something Craft Brew Alliance This complicated structure of beer production and distribution exists to leverage state laws and the way role distributors play in the industry.Here’s how the industry’s power plays out in the years ahead. Beer doesn’t simply go from a major brewery to liquor stores and bars around the world.
Indiana reworking bill that critics say would bar Tesla
Indiana lawmakers are reworking a bill after critics charged that it would sound the death knell of auto manufacturer Tesla’s ability to sell cars in the state. After nearly two hours of testimony Wednesday, House transportation committee Chairman Ed Solidary called a recess and said he would hammer out a compromise between conventional auto manufacturers, their dealership franchises and Tesla.
US auto sales seen lower in January; GM, Ford post declines
General Motors’ sales fell 3.8 percent from last January, while Ford’s sales were down 1 percent. Nissan’s sales rose 6 percent thanks to strong truck and SUV sales.
U.S. Jan. Auto Sales Seen Down 3%, but Industry Still Rolling
Automakers on Wednesday are likely to report a 3% decline in U.S. auto sales for January after a surprisingly strong December stole some thunder from the start of the new year, industry analysts and economists said. Still, with December’s good showing pulling sales from January, normally the weakest month of the year in terms of sales volume, some analysts cautioned against putting too much emphasis on the month’s annualized selling rate.
Should TrueCar Investors Be Concerned About This Development?
Brick-and-mortar retailers thrive when they capitalize on the impulsive spending of their consumers. When a customer peruses the aisles of Wal-Mart for milk and eggs, but also grabs a box of Russell Stover chocolates from the endcap, Wal-Mart wins.
Why Smart Mobility Services Are a Smart Move for Automakers
As the U.S. new-vehicle cycle peaks, everybody seems to be a Debbie Downer when it comes to automotive stocks, and few seem to be looking for out-of-the-box upside to these stocks. That’s not stopping Detroit executive from pursuing future ideas, of course, and while industry folk havetouted the enormous potential for smart mobility projects that could eventually resemble services such as Uber — once valued at more than $60 billion — we haven’t touched on exactly why those projects will help automakers evolve.
Peugeot Citroen Wobbles on Report of Emission Test Failure
France’s No.2 carmaker joined larger French rival Renault under scrutiny but shares in both rose on the back of a bumper 2016 for European new car sales. PSA Peugeot became the latest European car manufacturer to tremble in the wake of Volkswagen ‘s record fine for cheating emission tests after it was reported that one of its models had failed to meet EU standards and showed anomalies in official testing.
Russian 2017 Car Sales Seen Rising After Four Years of Declines
Russian car sales are set to return to growth in 2017 after a four-year slump on pent-up demand as the economy shows signs of reviving. Sales of new cars and light commercial vehicles may rise by about 4 percent to 1.48 million units this year after dropping 11 percent in 2016, Joerg Schreiber, chairman of the automakers’ committee of the Association of European Businesses, told reporters Thursday.
China Car Sales Climb at Fastest Pace in 3 Years on Tax Cut
Consumers in China bought passenger vehicles at the fastest pace in three years to take advantage of a tax cut on small-engine automobiles, boosting deliveries of automakers from General Motors Co. to Great Wall Motor Co.
Jaguar Land Rover and Rolls-Royce car sales rise
Rolls-Royce delivered 4,011 cars to customers in 2016, a 6% increase on the previous year and its second highest sales record in its 113-year history. Chief executive Dr Ralf Speth said last year that the company wanted to double production from 500,000 to one million cars a year, but that it would depend on government support.
Detroit auto show: Google, Camry and the shadow of Trump
Detroit Mayor Mike Duggan, center, and North American International Auto Show Chairman Sam Slaughter, right, are given a tour of the Mopar area from Ron Stallworth, left, of Fiat Chrysler Automobiles, Friday, Jan. 6, 2017, in Detroit. The show opens to the media on Monday, Jan. 9 and to the public on Jan. 14. less Detroit Mayor Mike Duggan, center, and North American International Auto Show Chairman Sam Slaughter, right, are given a tour of the Mopar area from Ron Stallworth, left, of Fiat Chrysler Automobiles, Friday, … more The Ford display is seen at the 2017 North American International Auto show, Friday, Jan. 6, 2017, in Detroit.
Automakers’ December Deals Push 2016 to a Record Seventh Gain
Automakers bought themselves a holiday present in 2016 to achieve a record seventh straight annual sales gain — at a steep cost. Aggressive dealmaking in December ultimately pushed the year’s total sales to a record 17.55 million cars and light trucks — a feat considered unlikely just six months earlier.
Automakers’ December Deals Push 2016 Toward Record Seventh Gain
Automakers bought themselves a holiday present and pushed 2016 toward a record seventh straight annual sales gain — at a steep cost. Aggressive dealmaking over the past two months probably helped the year end with a higher vehicle sales tally, something many analysts considered elusive just six months earlier.
Stocks Climb as General Motors, Ford Jump on December Sales
Stocks move slightly higher on Wednesday as Ford and General Motors rally following the release of their December sales performances. Stocks moved slightly higher on Wednesday as Ford and General Motors rallied following the release of their sales performances for December.
Auto-Sales Acceleration in U.S. Sputters Into 2017: Chart
While final figures for 2016 U.S. auto sales are still a day away, it’s clear the era of rapid growth is over. The industry is entering 2017 with analysts projecting the first significant decline in eight years — a drop of 200,000 vehicles, about the equivalent of one factory’s production — to 17.3 million cars and light trucks.
Trump Threatens ‘Big Border Tax’ on GM Over Chevy Cruze Production
President-elect Donald Trump took aim at General Motors Co. on Tuesday, saying the company needs to be taxed for certain versions of the Chevrolet Cruze small car that it imports from Mexico to U.S. dealers.
Spanish Clunkers Are Relics of Bust as Madrid Stems Fumes
Fumes belching from aging cars are part of the legacy of Spain’s economic slump, as Madrid steps up its efforts to contain traffic pollution. Madrid city council last week stopped cars with even-numbered license plates from entering the central city zone for a day and also imposed speed and parking restrictions as it acted to tackle to traffic pollution made worse by high-pressure weather conditions.
Spanish Clunkers Are Relics of Bust as Madrid Acts to Stem Fumes
Fumes belching from aging cars are part of the legacy of Spain’s economic slump, as Madrid steps up its efforts to contain traffic pollution. Madrid city council last week stopped cars with even-numbered license plates from entering the central city zone for a day and also imposed speed and parking restrictions as it acted to tackle to traffic pollution made worse by high-pressure weather conditions.
Highlights From Ford Motor Company’s Biggest Mystery Market: Europe
Initially, the company burned through billions in cash until business bottomed out and then years of slow but sure progress followed. Then last year Ford finally broke through with a full-year profit and investors were certain it was going to be sunshine and rainbows from then on.