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Category Archives: economy
December Global Light Vehicle Sales at 92,000,000 Annual Rate
The Global Light Vehicle (LV) selling rate for December 2023 was 94 million units annually, according to an analysis just released by the respected GlobalData* consultancy. This continues rising results since the middle of the year. The LV market grew … Continue reading
Manheim – Used-Vehicle Values Fall -21% from All-Time High
“We ended 2023 with about half of the used-vehicle value decline we saw in 2022, but still more than we’d see in a typical year,” said Cox Automotive Chief Economist Jonathan Smoke. “For 2024, the key word for the wholesale market is ‘normalcy.’ Manheim expects constrained growth with a volume increase of less than 1%. As for price patterns, we anticipate a normalization trend, and we expect that 2024 will be the first year in five where we will experience fairly normal depreciation in the wholesale market.” Continue reading
Western EU Car Sales Down ~5% in 2023
The Western Europe PV selling rate rose to 13 million units/year in December 2023, with 951,000 car registrations in the month. Compared year-over-year (YoY ), sales were down almost 5%, though that compares to a strong December 2022, according to an analysis just released by European Light Vehicle Sales Forecasting Team at the GlobalData consultancy.The region finished 2023 overall with 11.6 million units, higher than the 10.1 million units recorded in 2022, but well behind the 14.3 million units registered in pre-covid 2019. Continue reading
Bidenomics – Sales Soaring as US Auto Market Ends 2023
“December has traditionally been a good time of year to buy a vehicle as automakers seek to hit year-end targets, but that had been less true in recent years amid tight inventory levels. However, with stocks now significantly replenished across the industry, discounting was back on the agenda last month. Consumers who have been sitting on the sidelines appear to have been willing to jump back into the new vehicle market again, although it also seems that fleet deliveries accounted for some of the December surge,” said David Oakley, Manager, Americas Sales Forecasts, GlobalData. Continue reading
Posted in auto news, economy, manufacturing, marketing, news analysis, sales
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Bidenomics, David Oakley, GlobalData, Jeff Schuster, Ken Zino, US light vehicle sales December and CY 2023, US post covid recovery
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China Vehicle Sales at Record High in November 2023
“The main driving force of this year’s exports was the improved competitiveness of Chinese products and the breakthrough into the European and American markets. Also, the international brands in the Russian market have now been fully replaced by Chinese vehicles because of the Russia-Ukraine crisis. In addition, a huge export increase has resulted from the improvement in China’s NEV competitiveness. As long as there is stable market demand in the world, there is still plenty of scope for developing China’s auto exports in the future,” GlobalData said. Continue reading
Posted in auto news, economy, manufacturing, milestones, news analysis, results, sales
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, GlobalData Asia-Pacific Light Vehicle Sales Forecasting Team, GlobalData consultancy, Ken Zino, oxford economics
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Ford Motor US Sales Up 7% in 2023
“In a year of challenges, from a labor strike to supply issues, our amazing lineup of gas, electric and hybrid vehicles and our fantastic dealers delivered solid growth and momentum. We have the products that customers want,” said Jim Farley, Ford president and CEO. Continue reading
American Honda 2023 Sales Up More than 30%
“We began 2023 optimistic for increased sales volumes, with our commitment to fun-to-drive cars, a refreshed light truck line-up and increasing hybrid-electric volumes. To have achieved a 33% increase over last year’s sales is an incredible testament to the strength of our products, dealer network and brands,” said Mamadou Diallo, senior vice president of Auto Sales at American Honda Motor Co. Continue reading
GM Delivers 2.6 Million Vehicles in US During 2023
General Motors (NYSE: GM) said today that it along with GM dealers delivered 2.6 million vehicles in the US during calendar year 2023. This was an increase of 14% year-over-year reflecting the ongoing Biden Administration economic recovery, in AutoInformed’s view. Continue reading
Toyota North America December 2023 Sales Up 7%
Toyota Motor North America (NYSE:TM) today reported year-end 2023 total US sales of 2,248,477 Toyota and Lexus brand vehicles, an increase of 6.6% on a volume basis or 7% on a daily selling rate (DSR) basis when compared to 2022. … Continue reading
Posted in auto news, economy, marketing, news analysis, results, sales
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Jack Hollis, Ken Zino, lexus sales, NYSE:TM, TMNA 2023 calendar year sales, Toyota Motor North America, toyota sales
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Significant 2023 Automotive Stories and Trends
Our aspirations of becoming a more useful part of our society comprised of “We the People” is under daily news-cycle assault with an insurrection of can’t do characters and their apologists and power-hungry enablers who are our enemies within. They are the greatest threat to our upwardly mobile, inclusive democratic society. These illiterate book banners and burners are threatening our genuine American optimism and can-do past that still propels the best of us to keep moving forward with or without drums and fifes. Continue reading
Posted in auto news, AutoInformed Editorial, connected vehicles, economy, electric vehicles, energy, environment, fuel economy or emissions, global warming, people, public health, transportation
Tagged 1776, American optimism and can-do spirit, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Declaration of Independence, Ken Zino, significant automotive stores and trends of 2023, the American dream, The US Constitution
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Nissan Motor Global Production up 27% in November
Nissan Motor said today in Yokohama that global production of passenger and commercial vehicles in November surpassed year-earlier results by 27.4% (317,233). Production in Japan also rose Year-over-Year (YoY) by 21.3 % (68,683). Furthermore production outside Japan rose YoY by 29.2% (248,550). In the US production during November at 48,056 was up +16.8%. Continue reading
Honda Motor November 2023 Global Production up 27%
Honda Motor said today in Japan that global production in November rose more than 27% at 414,429 vehicles when compared year-over-year (YoY). It was the third straight month of global increases. Continue reading
Honda, Mitsubishi, Tokuyama Studying Fuel Cell Recycling
Honda Motor, Tokuyama Corp., and Mitsubishi Corp. will run a joint demonstration to operate a data center using by-product hydrogen and a stationary fuel cell (FC) power station. It will reuse FC systems from fuel cell electric vehicles (FCEVs). Project Members will explore the potential of reusing automotive FC systems in a stationary application. The objective of the Demonstration Project is to reduce the economic liability on customers installing and operating stationary FC systems, which will contribute to the decarbonization of electric power. Continue reading
Posted in alternative fuels, auto news, autonomous vehicles, economy, electric vehicles, engineering, environment, fuel economy or emissions, global warming, milestones, news analysis, public health, transportation
Tagged auto industry commentary, autoinformed.com, automated driving, automotive blog, Automotive news and analysis, FCEVs, Generative AI, honda, Ken Zino, large-volume data processing, NEDO, New Energy and Industrial Technology Development Organization, recycling fuel cell systems, Tokuyama Mitsubishi
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Bidenomics – People Spend Record $578B on New Vehicles
“December results cap off the year with a strong performance, illustrated by double-digit year-over-year sales growth and the second-highest consumer expenditure on new vehicles ever recorded for the month. Total sales of just under 15.5 million for 2023, represent a significant increase of 12.8% from 2022, when just 13.7 million vehicles were sold. What’s even more noteworthy is that consumer expenditure on new vehicles in 2023 set a record of $578 billion. This is the third consecutive year in which U.S. consumers spent more than half a trillion dollars buying new vehicles,” said Thomas King, president of the data and analytics division at J.D. Power. Continue reading
Posted in auto news, economy, marketing, news analysis, people, results, sales
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Biden Administration economic recovery, December 2023 US vehicle sales forecast, GlobalData, j.d power, Ken Zino, Thomas King
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American Honda 2024 Sales Forecast – Acura and Honda Up
“In 2023, we were finally able to meet the pent-up demand for our products with both brands rebounding and American Honda finishing the year up over 30%. We projected a strong recovery, and we achieved that,” said Mamadou Diallo, Senior Vice President of Sales. “This year we will continue to capitalize on hybrid models and light trucks as we begin sales of our first high volume BEV models. Along with a continued investment in our ICE products, we are anticipating increased annual sales for both Honda and Acura in 2024.” Continue reading →