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Category Archives: sales
Slight Improvement in J.D. Power 2024 Sales Satisfaction
Customer satisfaction with the vehicle purchase process continues to rise as new-vehicle inventory and pricing improve year over year, according to the J.D. Power 2024 U.S. Sales Satisfaction Index (SSI) Study, SM released this week.* Overall customer satisfaction with the vehicle purchase experience is 801 (on a 1000-point scale), up from 793 in 2023.** Continue reading
Posted in auto news, customer satisfaction, news analysis, results, sales, shows and events
Tagged 2024 U.S. Sales Satisfaction, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, J.D Power 2024 SSI Study, Ken Zino, Stewart Stropp, X @KenAutoinformed
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October 2024 US Light Vehicle Sales Up at 1.34 Million
Light Vehicle (LV) sales grew by 11.5% year-on-year (YoY) in October 2024, to 1.34 million units. Although the month had two additional selling days than it did in 2023, sales still exceeded expectations and provided a more cheerful perspective on the industry than has generally been the case in recent months, according to preliminary estimates released today by the respected GlobalData consultancy.
“Sales have generally disappointed for much of 2024, but October provided a pleasant change of pace. While the fundamentals of the market have probably not shifted to a great extent, some consumers appear to have been enticed by the gradual uptick in incentives, allied with greater vehicle availability and an easing in interest rates. A number of brands highlighted how Electric and Hybrid Vehicles performed better,” 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, Biden Administration economic recovery, David Oakley, GlobalData, Jeff Schuster, Ken Zino, X @KenAutoinformed
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September 2024 Global Light Vehicle Sales Down Slightly
The Global Light Vehicle (LV) selling rate for September stood at 90 million annually, in line with August’s results, according to an analysis just released by the respected GlobalData consultancy.* Looked at year-over-year (YoY), market volumes are continuing to trend downwards as sales volumes were down ~ 4% versus September 2023. Furthermore, YTD sales are now only up fractionally compared to the same period last year.
“In September, sales were down across most regions. Sales in China fell 5% YoY, as the economy faces headwinds and despite the ongoing scrappage incentive. In the US sales fell YoY for the month, with this September having fewer selling days. Finally, sales in Western Europe remained underwhelming, as a weak economy and high vehicle prices dragged on LV market activity,” said the Global Light Vehicle Sales Forecasting Team. Continue reading
Porsche Sales Weak Through Q3 2024
Porsche AG today posted sales declines for the first nine months of the year. Overall global sales at 226,026 dropped -7%. China sales at 43,280 plunged -29%. “This reflects poor economy in the Chinese market” that is affecting all makers. Worse, there is now an outright trade war over tariffs between the EU and China. North American sales at 61,471 dropped -5%. In Europe (excluding Germany), Porsche delivered 52,465 vehicles in the first nine months, an increase of 1% compared to the same period last year. In the home market of Germany, the number of vehicles delivered rose by 8 % as 26,838 units were delivered to customers.
“Customer demand remains at a robust level and the feedback from our customers on the new models is very good. As product availability increases, we are optimistic about the final spurt for 2024,” claimed Detlev von Platen, Member of the Executive Board for Sales and Marketing at Porsche AG. Continue reading
U.S. Vehicles Sales Drop as Consumers Wait for Discounts
“September sales were in line with our forecast, although our expectations were modest for what was always penciled in to be a quieter month. Even though the Federal Reserve cut interest rates by 50 basis points – above the expectations of many analysts – it is likely to take some time for lower borrowing costs to feed through to the auto industry. Generally, high vehicle pricing is keeping monthly payments elevated, and therefore some consumers are still sitting on the sidelines,” said David Oakley, Manager, Americas Sales Forecasts at GlobalData. Continue reading
Nissan Group U.S. Q3 Sales Off 2.2% with Varying Results
Nissan Group today announced total U.S. third-quarter (July – September) sales for 2024 of 212,068 units, a decrease of -2.2% versus the prior year.
Broken out ,Infiniti USA reported deliveries of 14,540 vehicles Q3 2024, a decrease of 12.1%.The QX50 crossover bucked the trend, with an increase of 11.7% for the quarter and 10.1% for the year. Infiniti car sales plunged -36.2% at 2041. Infiniti CUV/SUV sales were off -8.7% at 14,503. Continue reading
American Honda September Sales Drop 9%
American Honda today posted tepid September sales of 105,527 units down ~9% month over month and year-to-date.
“Our sales momentum has continued through the third quarter with strong demand for Honda and Acura SUVs, and growing sales of electrified models,” said Lance Woelfer, vice president of Auto Sales at American Honda Motor Company.
“Despite some supply issues due to the preparation for EV manufacturing and supply challenges related to the catastrophic Hurricane Helene in the Southeast, we continue to gain sales momentum based on a flexible strategy of offering fuel efficient petrol, hybrid-electric and battery-electric models to meet the needs of our customers,” Woefler claimed. Since the results weren’t broadcast it’s impossible to know if his nose grew longer when making that claim. Continue reading
Toyota Motor North America September Sales off 20%
Toyota Motor North America (NYSE: TM) posted U.S. September sales of 162,595 vehicles, down 20.3% on a volume basis and down 9.9% on a daily selling rate (DSR) basis versus September 2023. This is consistent with the expected industry sales slump evident at all other automakers thus far. September electrified vehicle sales consisting of hybrids, plug-in hybrids, pure electrics and fuel cells were 48.4% of total sales volume and totaled 78,683, up 22.4% on a volume basis and up 38.3 % on a DSR basis. Toyota remains the industry’s number one retail brand through the nine month period. Continue reading
GM Posts Modest U.S. Sales increase for Q3 2024
General Motors (NYSE: GM) said today its dealers increased retail sales by 3% year over year in September and delivered 659,601 total vehicles, down 2%, in the U.S. during Q3 of 2024. The company posted another record quarter of EV sales with 32,195 total deliveries, up 60% year-over-year and up 46% compared to the second quarter of 2024. The industry total SAAR is estimated at 16.2 million, equal to Q2 and YOY. There were 76 selling days for Q 3 2024 and 78 selling days for the same Quarter last year.
“GM’s EV portfolio is growing faster than the market because we have an all-electric vehicle for just about everybody, no matter what they like to drive,” claimed Rory Harvey, GM executive vice president and president of Global Markets. Continue reading
August 2024 EU Car Registrations Plummet
During August 2024, new EU car registrations saw a sharp decrease (-18.3%) with negative results across the region’s four major markets: double-digit losses were witnessed in Germany (-27.8% at 197,322), France (-24.3% at 85,977), and Italy (-13.4% at 69,161), with the Spanish market declining by 6.5% at 52,322, the ACEA trade group said today.
With eight months of 2024 elapsed, new car registrations increased by 1.4%, at ~7.2 million units. Spain (+4.5% at 671,551) and Italy (+3.8% at 69,161) showed positive but modest performance. The French and the German markets stagnated (-0.5% at 1,126,900 and -0.3% at 1,907,226 respectively). Continue reading
Posted in auto news, economy, manufacturing, marketing, news analysis, results, sales
Tagged acea, August 2024 EU Car Registrations, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Death of the diesel, European Automobile Manufacturers’ Association, Ken Zino, X @KenAutoinformed
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Best Selling Car Now at Dealerships – 2025 Honda Accord
The 2025 Honda Accord started arriving at Honda dealerships this week with more standard features, and a new turbocharged SE trim with black exterior accents and other standard high-demand features. The Honda Accord, America’s best-selling car over the last five decades , is available in six trim levels, starting with the turbocharged LX and SE, and topped by the hybrid-electric powered Sport, EX-L, Sport-L and Touring.
“The Honda Accord is a critical driver of brand loyalty and the new Accord SE brings even more expressive styling and value to Accord that already commands more than 25% of all retail sales in segment,” said Jessika Laudermilk, assistant vice president of Honda Auto Sales. “Accord SE is one more reason that Accord will continue to set the standard for midsize cars in exceptional value and a sporty driving experience.” Continue reading
U.S. Light Vehicle Sales in August 2024 Disappoint
U.S. light vehicle sales totaled 1.42 million in August, the GlobalData* consultancy said today. The annualized selling rate for the month was 15.1 million a year, down from 16.0 million a year in July. The daily selling rate was estimated at 50,600 units per day in August, down from 51,400 in July. Expectations were high coming into the month, given the inclusion of Labor Day in August for the first time since 2019.** Continue reading
October Global Light Vehicle Sales Rate at 93 Million
The Global Light Vehicle (LV) selling rate for October stood at 93 million units/year, according to an analysis released today by the respected GlobalData consultancy.* Year-over-Year, market volumes rebounded from the previous months’ downward trend. YoY sales were up 6% versus October 2023. However, Year-to-Date sales have a modest increase of 1% compared to the same period last year.
“In October, sales experienced a resurgence across most regions. Sales in China grew 5% YoY, as the domestic market saw a modest recovery driven by subsidies and the ongoing price war. In the US, sales grew nearly 12% for the month, driven by additional selling days and new model releases. Finally, sales in Western Europe remained broadly flat, as the region continues to experience significant political and economic headwinds,” the GlobalData forecast team said. Continue reading →