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Category Archives: sales
US Auto Sales Forecast Trump Bump or Bumpy 25?
The experts at Cox Automotive said today that the U.S. Automotive forecast for 2025 is likely positive with what they termed the Goldilocks economy – not too hot nor too cold but just right.
“Instead of a slowing economy, we have a stabilizing economy and most importantly, a stabilizing labor market,” said the estimable Jonathon Smoke Cox, Automotive chief economist. “We can stop fretting about a soft landing and acknowledge we’ve navigated restrictive rates, slowing job growth and increasing unemployment. But as we end 2024, momentum is back on our side. And the labor market is expected to remain at full employment,” said Smoke. Continue reading
Posted in auto news, car sharing, connected vehicles, economy, electric vehicles, manufacturing, marketing, news analysis, sales, shows and events
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Charlie Chesbrough, Jonathon Smoke, Ken Zino, Stephanie Valdez Streaty, X @KenAutoinformed
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November Global Light Vehicle Sales Rate 93 Million
The Global Light Vehicle (LV) selling rate for November* stood at 95 million units/year, according to an analysis released today by the respected GlobalData consultancy.** a small improvement on the previous month, and the best result so far in 2024. Market volumes continued to grow in November as YoY sales were up 6% compared to November 2023. YTD sales stood at 80 million units.
“In November, sales saw sustained growth in key markets like the US and China. Chinese consumers are capitalizing on scrappage subsidies and a very competitive pricing environment. In the US, an extra selling day compared to the previous year contributed to increased sales YoY. Sales in Western Europe remain lackluster, mirroring previous trends, as political and economic challenges persist, exacerbated by recent government turmoil in Germany and France,” the Global Light Vehicle Sales Forecast Team said. Continue reading
Posted in auto news, car sharing, connected vehicles, economy, manufacturing, marketing, news analysis, results, sales, transportation
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, GlobalData, Ken Zino, November Global Light Vehicle Sales, oxford economics, X @KenAutoinformed
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November Western European Car Sales Up
“Year-to-date (YTD) sales experienced a slight decline of 0.2% compared to the first eleven months of 2023. The recent collapse of both the German and French governments has heightened political uncertainty in the region. Despite support coming from rate cuts and new model introductions in2025, the combination of political headwinds, high pricing and challenges faced by domestic manufacturers will continue to challenge market activity in the short term,” the GlobalData European Light Vehicle Sales Forecasting Team said. Continue reading
Battery Electric Vehicle Sales In EU Slumping
Roughly half of all European markets saw a drop in battery electric vehicle sales through September 2024, compared to the same period in 2023. There was a slight improvement in Q3.
“This was contrary to consensus market projections. Battery electric vehicle sales in the EU experienced a year-on-year decline of 4% during the first nine months, prompting most OEMs to re-evaluate and rescale their investment plans and strategies towards electrification,” said Vivek Satheesh, a powertrain analyst at the respected GlobalData consultancy. Continue reading
Posted in auto news, economy, electric vehicles, environment, global warming, labor issues, manufacturing, news analysis, results, sales
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, BEV sales in Europe, Chinese trade war, GlobalData, Ken Zino, Vivek Satheesh, X @KenAutoinformed
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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
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
CarMax FY Q3 Net Profit Up 1.2%
CarMax (NYSE: KMX) today reported results for the third quarter ended November 30, 2024. Total gross profit of $677.6 million increased by 10.6% year-over-year (YoY) because of higher volumes and margins. Gross profit per retail used unit was $2306, in line with the prior year’s Q3. Gross profit per wholesale unit was $1015, up $54 per unit. Extended Protection Plans (EPP) margin per retail unit of $573, was an increase of $53.
“I am pleased with the positive momentum that we are driving across our diversified business model. Our solid execution and a more stable environment for vehicle valuations enabled us to deliver robust EPS growth driven by increases in unit sales and buys, solid margins, growth in CAF income, and ongoing management of SG&A,” said Bill Nash, president and chief executive officer. Continue reading →