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Category Archives: sales
Western European Passenger Car Sales Down in July
The Western Europe passenger vehicle (PV) selling rate dropped in July, at 11.2 million units/year, returning to the levels seen pre-June. PV registrations fell 0.2% YoY to 916,000 units.* “Following an improvement in the selling rate in June, Western Europe … Continue reading
Soothsayer Shortfall – US Light Vehicle Sales Flat in July
US Light Vehicle (LV) sales fell by 0.4% YoY in July, to 1.30 million. When sales contracted in June largely as the result of the CDK cyberattack,* it was expected by industry soothsayers that the market would experience a significant rebound in July. It didn’t happen. According to preliminary estimates released today by the respected GlobalData** consultancy, Light Vehicle (LV) sales fell by 0.4% YoY. Continue reading
Posted in economy, news, news analysis, results, sales
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, CDK, GlobalData, Jeff Schuster, July US Light Vehicle Sales Flat, Ken Zino, national automobile dealers association, Patrick Manzi, X @KenAutoinformed
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Commercial Vehicle Sales Up in EU H1 2024
During the first half of 2024, new EU van sales increased by 15%, at 840,409 units, driven by double-digit growth in key markets, according to data just released by The European Automobile Manufacturers’ Association (ACEA).* “Germany led with a remarkable 19.3% rise, followed by Spain at 18.5%, Italy at 17.8%, and France at 10.5%. New EU truck registrations saw a more modest increase of 3%, at 183,295 units from January to June. This growth was primarily driven by an 18.2% increase in medium-truck sales, while heavy trucks remained stable with a 0.3% increase. Spain and Italy led with double-digit gains of 21.7% and 10.5%, respectively, while Germany (+8.1%) and France (+5.5%) also posted growth,” ACEA said. Continue reading
Global Light Vehicle June Sales Rate at 89 Million Best in 2024
“Sales accelerated in China last month with the price war continuing, while in the US sales staggered as a result of a cyberattack affecting dealerships. Europe saw a rise in selling rates, thanks to improvements in both East and West Europe. Meanwhile, Japan recorded lagging sales in the face of supply issues and a subdued macroeconomic climate,” said the GlobalData Light Vehicle Sales Forecasting Team. Continue reading
Chinese Light Vehicle Market Recuperating In May
During May 2024, the Chinese Light Vehicle (LV) market showed a firm uptick with continuous structural optimization, according to an analysis and data released by the respected GlobalData consultancy.* Within the LV segment, Passenger Vehicle (PV) sales, influenced by the … Continue reading
CDK Cyberattacks Wound June US Light Vehicle Sales
“Although the industry has become accustomed to dealing with adversity in recent years, the CDK cyberattack was another curve ball that disrupted activity on a number of levels during June. Many dealers that use CDK’s software found it difficult to conduct normal business operations, although reports suggest that workarounds were found in many cases,” said David Oakley, Manager, Americas Sales Forecasts, GlobalData. Continue reading
May 2024 Car Sales Drop 3% in EU
Registrations of battery-electric (BEV) cars declined by 12% to 114,308. The total EV market share dropping to 12.5%. Belgium – now the third-largest market by volume for BEVs – and France were the only key markets to record growth, at 44.8% and 5.4%, respectively. Germany (-30.6%) and the Netherlands (-11.7%) had significant declines. From January to May, a total of 556,276 new battery-electric cars were registered. This is a 2% increase from the same period last, according to the ACEA trade group. Continue reading
Posted in auto news, economy, electric vehicles, marketing, news analysis, results, sales
Tagged acea, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Death of the diesel, EU May 2024 Cars Sales, European Automobile Manufacturers’ Association, Ken Zino
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May 2024 Global Light Vehicle Sales Rate Up Slightly
“Key markets, China and the US, benefited from improved selling rates versus the previous month. In Europe, there was little change for the West of the region in its month-over-month (MoM) selling rate evolution. While Eastern Europe made progress, with the latter once again supported by recovery in Russia. In Japan, the selling rate declined notably as supply issues persist,” the GlobalData light-vehicles sales forecast team said. Continue reading
Chinese Trade Wars – Exports Growing, Prices Dropping
Two very real problems are increasing for non-Chinese global automakers. First, is the penetration rate. This is the market share of the vehicles that are the future of the companies that will survive what is an historic reshaping of a global industry. Here, so-called New Electric Vehicles – [NEVs – battery electric vehicles, plug-in hybrids and range-extended electric vehicles combined] that have been heavy promoted, subsidized and pushed forward by the Chinese government are now accounting a 43% share in April, an historic high. The economies of scale are enormous and a clear Chinese competitive advantage. Continue reading
Posted in auto news, economy, electric vehicles, electronics, environment, global warming, manufacturing, marketing, mobility company, news analysis, public health, sales, software defined vehicles
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Biden Administration, Bidenomics, BYD Qin L, Chinese Trade Wars, consumer electronics, Global Data Analyst comment, GlobalData, internet of things, Ken Zino, Nan Zhang, Xiaomi
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May 2024 US New Vehicle Sales Forecast Up
US new-vehicle sales for May 2024, including retail and non-retail transactions, are forecast at 1,446,800, a 2.9% increase from May 2023 on a selling day adjusted basis, according to a joint forecast from J.D. Power and GlobalData.* May 2024 has … Continue reading
Posted in auto news, economy, news analysis, results, sales
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Elizabeth Krear, GlobalData, j.d power, Jeff Schuster, Ken Zino, May 2024 US Sales forecast, May 2024 US Vehicle sales forecast, Thomas King
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April Global Light Vehicle Sales Tick Up Slightly
The Global Light Vehicle (LV) selling rate was 86 million units annually in April 2024, a modest improvement on the previous month, according to an analysis just released by the respected GlobalData consultancy.* With 6.8 million vehicles sold in April, this was a 2.8% improvement year-on-year (YoY), with year-to-date (YTD) sales increasing 3.8%.
Regional selling rates continued to see mixed results GlobalData said. In the US, the selling rate grew month-on-month (MoM). China’s selling rate eased despite the continuation of the price war. Europe also saw a moderate contraction in the selling rate in April versus March. In Japan, sales bounced back after production disruptions at major brands. Continue reading
Honda Post Record Operating Profit of $7B in FY 24
“In FY25, we will steadily proceed with dedicating resources towards electrification and aim to achieve operating profit of ¥1 trillion 420 billion and an operating profit margin of 7%, which is one year ahead of our original target,” said Toshiro Mibe, Director, President and Executive officer. He was the first Honda chief executive in history to attend the annual results conference. Normally, the finance staff conducts it with regional operating officers. Continue reading
Toyota Motor Posts Record FY24 Net Income of $39.1B
“We faced many challenges, including those posed by COVID-19 and production restrictions due to tight semiconductor supplies, but the results showed the efforts of each front-line employee, including those of our suppliers and dealers, each recognized what they needed to do and acted accordingly, and a management structure and profit structure that was built to be resilient to crises,” said Koji Sato, president. Continue reading
July 2024 Global Light Vehicle Sales at 91 Million Year’s Best
“Sales in China maintained a solid pace as NEVs sales continue to gain traction. In the US, YoY sales declined as high vehicle pricing and concerns over the economy weighed on vehicle consumers. The same can be said for Western Europe, which saw its selling rate struggle in July. Meanwhile, the Japanese market surged as supply has begun to catch up from the losses created by the previous vehicle certification issues,” the Global Data forecast team said. Continue reading →