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Category Archives: sales
Recession? US Consumer Auto Spending at Record Levels
Retail sales of new vehicles this month are expected to reach 907,900 units, a 0.1% increase from February 2022. New-vehicle transaction prices continue to rise, with the average price reaching a February record of $46,229, a 4.8% increase from a year ago. Consumers are forecast to spend ~$42.0 billion on new vehicles this month—the most ever for the month of February and an increase of 5.0% from February 2022, as the Biden Administration economic recovery continues. Continue reading
Posted in news analysis, sales
Tagged auto industry commentary, autoinformed.com, bevs, Elizabeth Krear, j.d power, Ken Zino, lmc automotive, PHEVs, Thomas King
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January Western European Diesel Car Market Flat
Western European diesel car sales were flat, according to the latest data just released by LMC Automotive.* Even though the data are incomplete with the Greek market lacking, LMC notes that 147,000 diesel cars were sold in the month, the … Continue reading
January Global Light Vehicle Sales Flat at 83 Million
January’s Global Light Vehicle (LV) selling rate stood at 83 million units annually, consistent with the previous month, according to the latest data just published by LMC Automotive.* Global supply constraints remain a key issue with some “distortions from tax changes,” in the respected consultancy’s view. Monthly registrations were down 8% year-on-year (YoY), at 6 million units for the month. Continue reading
Posted in economy, sales
Tagged auto industry commentary, autoinformed.com, global light vehicle sales, Ken Zino, lmc automotive
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US Trade Deficit Grows in 2022 as Economy Recovers
For 2022, the goods and services deficit increased $103.0 billion, or 12.2% from 2021. This is the largest deficit on record as the economy continued to recover as consumers and businesses purchased higher amounts of machinery, car components, industrial supplies, medicines among other things. Exports increased $453.1 billion or 17.7% . Imports increased $556.1 billion or 16.3%. Continue reading
January 2023 Western EU Passenger Vehicles Sales Plunge
LMC noted that the 2022 year‐end had a stronger selling rate in part due to legislation changes pulling forward sales. However, in monthly registration terms, January 2023 was up 9.8% year‐on‐year (YoY), at 810k units. Continue reading
Posted in economy, sales
Tagged auto industry commentary, autoinformed.com, Global data, Ken Zino, lmc automotive
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US Light Vehicles Sales in January 2023 Weak at 1 Million
The usual problems remain – record high transaction prices, economic uncertainty, the Federal Reserve’s determination to send the economy into a recession via its ongoing interest rate increases, skimpy inventory caused by supply chain disruptions for some major automakers, notably Ford and Toyota – all make for a rerun of the flop show Pandemic Blues. So good luck reopening that show in 2023 with the same cast and plot. Continue reading
Posted in economy, news analysis, sales
Tagged auto industry commentary, autoinformed.com, David Oakley, GlobalData, Jeff Schuster, Ken Zino, lmc automotive, nada, Patrick Manzi
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January US Vehicle Sales Up as Transaction Prices Hit Record
The record transaction prices means that buyers are on track to spend nearly $39.9 billion on new vehicles this month, the highest level ever for the month of January, an increase of 2.4% from January 2022 despite the Federal Reserve’s efforts to send the US into a recession. The looming Republican creation of a depression over the deficit, aka Congressional contract hit on America II, remains ominous. Continue reading
December Global Light Vehicle Sales at 82M Down Again
China’s market was a major culprit with its sluggish end to 2022 . In China December raw sales were down almost 12% year-over-year (YoY), which LMC attributed to increased disruption and uncertainty with the abrupt ending to the zero-Covid policy. North America and Europe showed positive YoY growth for December, although both remained below their 2021 sales, -7% and -11% respectively. Continue reading
Posted in economy, news analysis, sales
Tagged auto industry commentary, autoinformed.com, December global sales, Ken Zino, lmc, oxford economics
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Total Sales Flat in 2022 at 1.6M as Audi Delivers 100,000 EVs
“In a challenging and dynamic environment, our global team once again proved its resilience in 2022,” said Hildegard Wortmann, Member of the Board of Management for Sales and Marketing at AUDI AG. “Thanks to extraordinary team spirit, operational excellence and effective sales control, we were able to close out the business year successfully.”
Audi in a classic public relations move then switched the subject. “Overall, Audi delivered 118,196 electric models to customers last year, which is 44.3% more than in 2021ignoring that such a percentage was possible because of the small base number from which it derived. The business challenge comes from Audi’s previously stated strategy that deems starting in 2026, Audi will only introduce all-electric cars to the global market. Continue reading
Posted in electric vehicles, sales
Tagged auto industry commentary, autoinformed.com, Hildegard Wortmann, Ken Zino
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2022 US Light Vehicles Sales Worst Since 2011
However, December posted the highest volumes of 2022, ahead of March by ~26,000 units. The daily selling rate was estimated by LMC as 47,500 units/selling day, compared to 44,900 units/selling day in November. LMC thinks that shows how the annualized selling rate was affected by the historical seasonality rather than the pace of sales necessarily slowing down. According to preliminary estimates, retail sales totaled around 1,057,000 units, unchanged from December 2021, while fleet accounted for approximately 225,000 units, representing 17.6% of the total market. Continue reading
Posted in economy, news analysis, sales
Tagged auto industry commentary, autoinformed.com, David Oakley, GlobalData, Jeff Schuster, Ken Zino, lmc
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GM Canada Sales Up 42% in Q4, 5% During 2022
For EVs, Canadian shipments for the Cadillac LYRIQ have already begun, with the first customer deliveries expected in January. Also launching in 2023 are the Chevrolet Equinox EV, Chevrolet Blazer EV, Chevrolet Silverado EV, GMC Sierra EV, and GMC HUMMER SUV EV. Continue reading
Posted in sales
Tagged auto industry commentary, autoinformed.com, EVs, gm canada, Ken Zino
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Toyota Motor North America 2022 Sales Drop Notably
“As the industry closes out 2022, we’re expecting the year to end around 13.9 million SAAR. And for 2023, we’re predicting a SAAR to grow to approximately 15 million. And while we still have many of 2022 challenges carrying into 2023, we’re moving in the right direction, and doing whatever we can to get vehicles to our customers as quickly as possible. So, we’re cautiously optimistic about our future. Now let me turn it over to Andrew to talk about our two brands,” said Jack Hollis, executive vice president of Toyota Motor North America (TMNA) and president of Toyota Motor Sales. Continue reading
Posted in sales
Tagged auto industry commentary, autoinformed.com, Jack Hollis, Ken Zino, TMNA
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General Motors Posts US Sales Leadership for 2022
General Motors (NYSE: GM) said today that GM and its dealers delivered 2.8 million vehicles in the U.S. in 2022 (+3%), leading the industry in total sales. GM also claimed that it extended its leadership in key market segments including full-size pickups and full-size SUVs.
Industry sales results will be forthcoming during the next couple of days, which will allow for a more nuanced analysis. Continue reading
Posted in economy, sales
Tagged auto industry commentary, autoinformed.com, Ken Zino, Steve Carlisle
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Ford Claims F-Series Retains Title of Best-Selling Truck in 2022
However, since Ford’s Edsel and Mercury brands are long gone and Lincoln is not in this segment, there is room to debate that General Motors with it Chevrolet, GMC and Hummer pickup lines might sell a greater number of pickups when final sales numbers are in. This also means that Ford Maverick, Ranger, F-150, Super Duty, all the way up to F-750 should also be included in the competitive tally. Continue reading
Posted in marketing, sales
Tagged auto industry commentary, autoinformed.com, Chevrolet, f-150, F-750, gmc, Hummer, Ken Zino, Maverick, pickup up truck sales, ranger, Super Duty
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US Light Vehicle Sales Up in February Amid Uncertainty
The February selling rate was estimated to be 15.0 million units/year, aka SAAR, down from 16.0 million units/year in January. However, as LMC observed last month, January’s rate appears to have been distorted by changing seasonality and the unique conditions in the market whereby a lack of supply is still constraining sales in some cases. Continue reading →