Category Archives: economy

Biden Recovery: Transportation Jobs Equal Pre-Pandemic

“In the second quarter of this year, we created more jobs than in any quarter under any of my predecessors in the nearly 40 years before the pandemic. We have more Americans working in the private sector today than any day during Donald Trump’s Presidency – more people than any time in our history,” said President Biden. Continue reading

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West European Car Sales Remain Weak at 9.8M Annual Rate

“With June usually a relatively strong month for new vehicle registrations, last month disappointed due to ongoing supply problems. However, in raw data terms last month’s figure did improve by over 100k units, which within the context of a supply- constrained market does indicate some progress for the region,” said LMC. Continue reading

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Demand Greater than Supply during June in US

“The shortage of microchips continues to limit vehicle production, but it’s not the only hurdle. Numerous other supply chain disruptions have limited OEM production, and many OEMs continue to nearly complete their vehicles and park them while they await chips. Unfortunately, these supply chain issues will continue to limit new-vehicle production, inventory and sales levels for the rest of the year,” said Patrick Manzi, chief economist of the National Automobile Dealers Association.   Continue reading

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Volkswagen of America Q2 Sales Down -34% at 78,281

The sales disaster went without comment from Volkswagen, which might mirror VW’s sentiments about the American market where it has been struggling for a long time. Continue reading

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BMW North America Q2 US Sales: BMW -18.3%, Mini -45%

We are pleased that demand remains strong, however this quarter was not without its challenges, as our sales were constricted only by the limitations of available inventory,” said Sebastian Mackensen, President and CEO, BMW of North America. Continue reading

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Subaru of America June Sales Flat, Q2 -18%

Subaru also reported year-to-date sales of 263,795, a -17.9 % decrease compared with the same period in 2021. Subaru said it continues to face inventory challenges as the result of microchip and supply chain issues affecting automakers globally. Continue reading

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Hyundai Motor America June Sales Down -12.9%

June was the highest sales month in 2022.Hyundai sold 184,191 units in Q2 and 343,867 units during the first half of 2022. Hyundai had no fleet sales in the first half of 2022. Continue reading

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GM Q2 US Sales Down -15%

“GM’s sales and market share have grown each of the last three quarters, even with lingering supply chain disruptions,” said Steve Carlisle, GM executive vice president and president, North America. “Our long-term momentum will continue to build thanks to the launches of groundbreaking new EVs like the GMC HUMMER EV and Cadillac LYRIQ, and the tremendous customer response to the Chevrolet Silverado and GMC Sierra,” claimed Carlisle. Continue reading

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Toyota Motor North America June US Sales Down -17.9%

“Despite the ongoing inventory challenges, so far this year, we launched a number of highly anticipated new products, including the Toyota battery electric bZ4X, Tundra and hybrid Tundra, and the Lexus LX, while continuing to closely focus on taking care of our customers,” said Jack Hollis, executive vice president, Sales, TMNA. Continue reading

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Mercedes-Benz and Unions Agree on EV Production Plans

This means that the Works Council and the powerful IG Metall union, which represents the industrial sector in Europe’s largest economy, supports how the factories are being allocated. The production portfolio already includes six all-electric Mercedes-EQ models. These are being bult at six locations on three continents. Continue reading

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US June Vehicle Sales Forecast is Down on Record Prices

New-vehicle retail sales in Q2 2022 are projected to reach 2,977,300 units, a 23.3% decrease from Q2 2021 when adjusted for selling days. New-vehicle retail sales for the first six months 2022 are projected to reach 5,827,300 units, a 19.1% decrease from the first six months of 2021 when adjusted for selling days. The first half of 2021 was an all-time record for retail sales. Power/LMC make no note of the Federal Reserve Board, which appears to be dedicated to sending and keeping the economy in a recession. Continue reading

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Europe’s Diesel Addiction Continues Starting with Germany

This was “in a depressed market that is suffering not only from supply issues, but perhaps starting to feel the beginnings of a consumer slowdown, although that is thought to be a relatively minor part of the problem as the order backlog remains significant,” the respected LMC Automotive* consultancy said today. Continue reading

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No Joy in May Global Light Vehicles Sales

In year-over-year comparison terms, sales were down 10%. In China, the reopening of manufacturing facilities in mid-April supported a rebound in sales for a moment. In the US, the industry is beset with problems, many of them self-inflected, including record high transaction prices, low inventory, and low incentives. Continue reading

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Digital Media Decimating Print Publishing Revenues

The explosive growth of digital media and technology continues to have a ruinous impact on print publishing industry revenues, the US Census Bureau said today. Continue reading

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US May Auto Sales – Record Prices as Sales Plunge -29%

“Headwinds continue to stack against a sustained market recovery and stability in vehicle supply. We expect the economy and auto market to remain plagued by volatility for the foreseeable future. Given the elevated risk, it is plausible for 2022 to turn to negative from the 2021 level, with volume down to 14.7 million units. Continue reading

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