Posts Tagged ‘New Car Sales’
August 13th, 2014
The worldwide auto industry is on an upward trend, with new car sales picking up dramatically in 2014 in the U.S., the U.K. and elsewhere thanks in large part to better-than-ever financing incentives offered by automakers. Industry tracking service LMC Automotive has just recently upped their sales projection for the U.S. in 2014 to 16.3 million units, which would be far and away the largest total since before the worldwide auto industry crash of 2008.
Read more »
August 6th, 2014
The redesigned-for-2015 Subaru WRX and WRX STI have been a big hit with critics, who have near universally praised the new models for better-than-ever handling with a technologically advanced AWD system to go along with more-even power delivery and an improved interior.
Turns out buyers are thinking exactly the same thing, as the WRX and WRX STI have been selling like wildfire.
Read more »
December 26th, 2012
Toyota Motor Corporation expects worldwide 2012 auto sales of 9.70 million units, up 22% over 2011, a new record for the company and enough to regain the title of world’s largest automaker from General Motors.
Riding on strong demand and high profits in the North American market, where Toyota expects sales of around 2.4 million units for 2012, the Japanese auto giant has fully recovered from a 2011 marred by Japan’s most serious natural disasters in modern history. Despite a weak European car market, an extremely strong yen and hotter than ever competition, Toyota presses on with profits for the fiscal year ending in March 2013 expected to reach $9.1 billion.
Sales would have been even more impressive were it not for the continuing Chinese-Japanese territorial dispute over the East China Sea islands. Both Japan and China claim the small island chain as national property, leading to an anti-Japanese backlash among Chinese consumers that has led to the boycott and even vandalism of Japanese-produced goods, including automobiles. China is now the world’s largest new car market.
Toyota projects calendar-year 2013 sales to rise around 2%, to 9.91 million units. Experts say this figure is relatively conservative, with sales of 10 million possible, especially if China and Japan can find an amicable resolution to the current conflict. No automaker has ever sold 10 million cars in a single year.
September 6th, 2012
New car sales are at the highest levels we’ve seen in more than 4 years. August’s 20% increase in sales over the same month in 2011 came as gas prices spiked and the average age of vehicles on American roads reached its highest level ever. But it’s not just fuel-efficient hybrids and small cars that are driving the slow uphill climb, even though Toyota Prius line sales doubled over 2011 numbers. Ford F-150 and RAM 1500 sales were both up around 20% in August. The new Ford Escape set a sales record, and Explorer sales reached their highest levels since 2006. Volkswagen reported its best August since 1973. So what’s behind the shift? 3 top reasons…
1. Need-Based Sales: An Aging Fleet
It’s no secret: cars and trucks just plain wear out over time. The average age of consumer vehicles on U.S. roads is now more than 11 years, or around 150,000 miles. Work trucks and grocery-getters alike are being replaced as it’s no longer cost-effective to keep repairing the same old jalopy.
2. Available Credit and 0% Financing
Except for rare cash buyers, consumers need credit in order to get into a new car. Not only is that credit open once again to a greater number of buyers, but those with good credit are seeing more 0% financing promotions than at any time in recent memory. Financing a $25,000 car at 0% (with 20% down) saves around $50 per month over financing the same car at typical 3.9% rates.
3. Fuel Efficiency: New Records Every Month
The average sales-weighted fuel efficiency of new cars sold in America now stands at 23.8 mpg, an increase of 1.3 mpg just since 2011 numbers. Crossovers with 30 mpg, 40 mpg cars and 50 mpg hybrids can save their owners thousands over the life of the vehicle. Gas prices over $4 per gallon in parts of the country are a strong driving force for fuel-efficient car sales, and consumers are finding increased mpg in every segment.
August 20th, 2012
Since overtaking Lexus in 2011 in a quest for the title of the #1-selling luxury automaker in the U.S., BMW and Mercedes-Benz have been locked in a fierce sales battle ever since, but a new report from the Wall Street Journal suggests BMW may not be playing fair. BMW reported U.S. sales of 21,297 units in July, besting the 19,312 by Mercedes-Benz, but this figure has been called into question.
Industry insiders have learned that a significant portion, perhaps thousands, of those “sales” are still on dealer lots, with some even listed in advertising for sale as brand-new cars. BMW paid its dealerships bonuses of between $2,500 and $7,000 per car on July 31 to purchase scores of new vehicles as “demo units,” ostensibly to used for test drives and marketing. Fine, but nothing in the brand’s agreement with its dealers prevents these cars from being sold as “new” in the future, even though BMW counts a dealer-purchased demo model as a legitimate sale. And that’s exactly what is now happening.
Now that 21k+ sales figure, just edging out Mercedes-Benz with Lexus not far behind, is being called into question by industry analysts, not to mention stock traders. How many cars were “sold” to BMW’s own dealer network, seemingly in an expensive corporate effort to boost public perception about the brand’s health? We don’t know for sure, but you can be there’s more than a little grumbling going on at Lexus and Benz, with calls for greater transparency soon to follow.