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Archive for the ‘Monthly Results’ Category

Infiniti Set to Abandon Western European Market

Weak demand leading Nissan’s luxury brand to focus on Europe, China.

by Paul A. Eisenstein on Mar.12, 2019

The concept version of the Infiniti Q30 debuted at the Frankfurt Motor Show as part of the brand's push to become an EU presence.

Infiniti has come to recognize there are limits to its global growth plans, the Nissan luxury brand announcing it will pull out of Western Europe by early next year.

Going forward, the brand will limit its scope to just two markets: the U.S. and China. Along with ending sales in Europe, Infiniti also will halt production of the Q30 and QX30 models at Nissan’s assembly plant in Sunderland, England. The parent company has raised questions about the broader viability of that plant as Britain struggles to manage its planned exit from the European Union later this month.

Breaking News!

A broader restructuring by Infiniti will see the luxury marque pair back on its overall product line-up, the brand’s new global CEO told TheDetroitBureau.com during an interview earlier this year.

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February Auto Sales in China Drop 13.8%

New energy vehicles, i.e. EVs, rose 53.6% last month.

by Michael Strong on Mar.11, 2019

New vehicle sales in China, like the Mazda CX-4, fell during the month of February 13.8%.

Automakers hoping that China might bail them out of sluggish sales in the U.S. are going to be disappointed as sales in the world’s largest market fell 13.8% in February.

The drop is eight consecutive month that China, only just two years ago posting double-digit increases, has seen buyers keep their money in their wallets. Sales fell 16% in January and 13% in December. Overall, 1.48 million new vehicles were sold in China last month, according to the China Association of Automobile Manufacturers.

Business News!

“The trend experienced last year has continued into this year, and the economic situation has also been weak. This has dragged down consumption,” CAAM’s Deputy Secretary General Shi Jianhua told reporters at a news briefing in Beijing. (more…)

Poor February Auto Sales Confound Analysts

Industry to see run on new leases in next few months.

by Joseph Szczesny on Mar.07, 2019

Winter weather and rising prices kept sales down in February, surprising some analysts.

After of drop sales in February of 2.8%, the auto industry is facing unsettled times during the next few months, analysts predict.

“February had a lot of good economic news to support a healthy vehicle market outlook, but that may not be coming to pass. The stock market has had a tremendous ride since the start of the year and consumer confidence, which took a tumble in January, has regained much of its decline,” observed Charlie Chesbrough, Cox Automotive senior economist.

News You Can Trust!

“With January’s government shutdown and record-breaking sub-zero temperatures in the rearview mirror, we expected a general upward lift in February,” he said. (more…)

Wintry Weather Drives Auto Sales Down in February

Trucks, SUVs were best-sellers last month.

by Joseph Szczesny on Mar.01, 2019

Fiat Chrysler officials said the Grand Cherokee set a new sales record for February.

Nissan, Toyota, Fiat Chrysler and Honda all reported sales declines in February as a combination of wintry weather and rising costs under cut the sales of new vehicles.

Trucks and sport-utility vehicles continued to dominate the sales picture, but Nissan and Toyota also reported an uptick in sales of subcompact and compact cars in what is perhaps a sign that consumers are beginning to look for less expensive transportation alternatives in the face of rising prices and interest rates.

Business News!

Strong sales of trucks and SUVs would likely be good news for General Motors and Ford, but the two automakers do not report sales on a monthly basis. (more…)

Tesla Boss Musk Teases Big Announcement

What's coming later today? Nobody really knows.

by Michael Strong on Feb.28, 2019

Tesla CEO Elon Musk plans to reveal something new at 2 p.m. Pacific Time today.

Elon Musk is creating more news. Fortunately, this time it won’t – or shouldn’t – involve the U.S. justice system.

Musk changed his name on Twitter to Elon Tusk and announced the company would be making an announcement at 2 p.m. Pacific Time today. He didn’t provide any other details, and has since changed his name back to Elon Musk.

News Now!

Naturally this sent followers, analysts and industry observers a buzz with anticipation. One analyst, Adam Jonas of Morgan Stanley decided to take a stab at what he thinks is coming later today on the webcast. (more…)

February New Vehicle Sales Expected to Drop

Drop comes after better-than-expected January.

by Joseph Szczesny on Feb.21, 2019

New vehicle sales are expected to fall 2.2% compared with last February's results.

With cold weather gripping the nation’s midsection, sales of new vehicles are expected to drop significantly in February, according to analysts and signals from the Federal Reserve Board.

Edmunds predicts that 1,271,009 new vehicles will be sold in the U.S. in February for an estimated seasonally adjusted annual rate or SAAR of 16.7 million. This reflects a 12.3% increase in sales from January 2019 and a 2.2% decrease from February 2018.

Business News!

“Although the drop off in sales is rather subtle year over year, February is shaping up to be a good barometer of the gradual sales decline we expect through 2019,” said Jeremy Acevedo, Edmunds’ manager of industry analysis. (more…)

Daimler AG Profits Fall as Car, Van Division Sales Drop

Mercedes fails to meet last year's profit, sales marks.

by Joseph Szczesny on Feb.08, 2019

Daimler AG Chairman Dieter Zetsche fields questions from the media during the company's annual earnings press conference.

Daimler AG said its fourth-quarter operating profit fell 22% as trade wars and ballooning costs for developing electric and self-driving cars took a bit out of the company’s profits.

The German automaker’s earnings before interest and tax or EBIT dropped to 2.67 billion euros in the fourth quarter, falling short of analyst expectations of 2.92 billion euros.

Financial News!

Mercedes-Benz said increased tariffs on vehicles imported from the United States to China and delivery stoppages for individual diesel models hit demand and resulted in weaker prices. (more…)

Auto Dealers Get Nervous as Inventory Continues Rising

Sales expected to fall later in year.

by Joseph Szczesny on Feb.06, 2019

Auto dealers are expressing concern about new vehicle inventory levels early in the year.

Car dealers and manufacturers keep a careful watch on inventories and a rising level of unsold vehicles in dealer hands is drawing attention and concern both for the health of the industry and of the overall economy.

The American International Automobile Dealers Association, or AIADA, is reporting that car dealers are beginning 2019 with a heavier inventory of unsold vehicles on their lots, a situation that some analysts say will put pressure on them to push for cuts in factory output as U.S. auto sales are expected to cool this year.

News You Can Trust!

Most forecasts call for vehicle sales to drop to between 16.8 million to 17 million units this year, which is a decline of between 200,000 to 400,000 units from 2018.  (more…)

FCA Debuting Special Anniversary Minivans in Chicago

35th anniversary editions commemorate a major industry shift.

by Paul A. Eisenstein on Feb.04, 2019

The 35th anniversary edition Chrysler Pacifica.

Fiat Chrysler will roll out a pair of special edition minivans at the Chicago Auto Show later this week to mark the 35th anniversary of the automaker’s original “people-movers.”

Few individual vehicles have had a more dramatic impact on the U.S. automotive market as did the original Dodge Caravan and Plymouth Voyager when they came to market in 1984, instantly clicking with buyers and rapidly spawning an array of competitors.

Beyond the Headlines!

While minivan sales today are running little more than a third of their one-time peak, they still remain a go-to product for millions of American families and, FCA hopes to take advantage of that with the 35th Anniversary Models it will roll out on Thursday at Chicago’s McCormick Place convention center.

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Auto Sales Stabilize in January’s Polar Weather

Cold weather offset by strong incentives.

by Joseph Szczesny on Feb.01, 2019

FCA's Reid Bigland said the automaker had a good "cadence" to sales in January, despite the frigid weather.

This story has been updated with new information.

Despite the government shutdown that neutralized sales in the U.S. Capitol and polar weather in the Midwest, Fiat Chrysler Automobiles N.V. and American Honda reported sales increases for the month of January, while Toyota and Nissan reported that sales dropped.

FCA said its January U.S. sales rose 2% to 136,082 vehicles compared with sales of 132,803 vehicles in January 2018. General Motors and Ford, FCA’s Detroit-based rivals, no longer report monthly sales totals, but on a quarterly basis.

News Now!

“In spite of some frigid January weather, we remain bullish on 2019 given the continued underlying strength of the U.S. economy,” said U.S. Head of Sales Reid Bigland. “We expect a good cadence of new product throughout the year led by our Ram heavy-duty pickup trucks and Jeep Gladiator midsize trucks in the first half of this year.” (more…)