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Tag Archives: GlobalData
US Light Vehicle Sales Strong in May
“May is usually an important month for the automotive industry, with warmer temperatures and Memorial Day sales events traditionally bringing consumers out to buy vehicles. This year was no different, with incentives being significantly higher than a year ago, allowing for some buyers to make deals that were not possible when inventory levels were low,” said David Oakley, Manager, Americas Sales Forecasts, GlobalData. Continue reading
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
The April 2024 U.S. Jobs Report – is Stable Good?
The U.S. labor market added 175,000 jobs in April, the White House said today via its Council of Economic Advisors. More than 60% of private-sector industries added jobs. The unemployment rate ticked up slightly to 3.9% – it went from 3.83% to 3.86% – and the labor force participation rate held steady at 62.7%. AutoInformed sees nothing in the report that is practically worrisome to the auto industry. What will be telling is if the companies can adjust supply to demand without incurring losses. Continue reading
April 2024 US Vehicle Sales Drop Slightly
“Calendar effects meant that it was always going to be challenging to match last year’s sales in April. However, with replenished inventory levels helping the market to recover a year ago, the industry is now facing a higher bar in order to keep growing,” said David Oakley, Manager, Americas Sales Forecasts, GlobalData. Continue reading
April US New Vehicle Sales Flat as Trade-in Values Drop
Total new-vehicle sales for April 2024, including both retail and non-retail transactions, are estimated to reach 1,304,600 units, a 0.9% decrease from April 2023 on a selling day adjusted basis, according to a joint forecast from J.D. Power and GlobalData.* … Continue reading
Posted in auto news, economy, manufacturing, marketing, news analysis, sales
Tagged April 2024 vehicle sales forecasts, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Elizabeth Krear, GlobalData, j.d power, Jeff Schuster, Ken Zino, Thomas King
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March 2024 Global Light Vehicle Sales Effectively Flat
The Global Light Vehicle (LV) selling rate stood at 85 million units/year in March, roughly the same with February 2024, according to numbers and analysis released by the GlobalData* consultancy. Worldwide, 8.0 million vehicles were sold last month, a 2% … Continue reading
March Western European Passenger Vehicle Sales Up. But…
The Western Europe passenger vehicle (PV) selling rate slipped backwards in March, to 11.3 million units/year, with 1.3 million vehicle registrations, according to the respected GlobalData* consultancy. This is 2.5% below March of 2023. However, year-to-date (YTD) sales increased by … Continue reading
Posted in auto news, economy, manufacturing, marketing, new vehicle, news analysis, results
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, GlobalData, Ken Zino, March EU passenger vehicle sales, March Western European Passenger Vehicle Sales
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US Auto Sales Hitting Streak – 20 Months of Growth in March
US Light Vehicle (LV) sales grew 5.5% year-on-year (YoY) in March to 1.44 million units, according to an analysis just released by the respected GlobalData consultancy.* This means that under the Biden Administration the economy had another month of YoY … Continue reading
Posted in auto news, economy, marketing, news analysis, results, sales
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Biden Administration economy, Bidenomics, David Oakley, GlobalData, Jeff Schuster, Ken Zino, March 2024 US light vehicle sales
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Baltimore Bridge – Japanese, Korean, German Makers at Risk
“Japan, Korea and Germany are the main origins for vehicles entering the US market, so brands with heavy production concentrations in those locations have the potential to be impacted more significantly, especially those in Europe,” said the GlobalData* consultancy. “It is no surprise that Hyundai and Toyota were the top importers, though General Motors (GM) was the third largest, with vehicles coming from Korea and China. VW Group is among the top 5 importers, while BMW, Mercedes-Benz, Volvo and Stellantis are also exposed to potential disruption.” Continue reading
March US Vehicle Sales Up. Record Q1 Consumer Spending!
Total US new-vehicle sales for March 2024, are projected to reach 1,525,700 units, a 12.1% increase from March 2023, according to a joint forecast today from J.D. Power and GlobalData.* The seasonally adjusted annualized rate (SAAR) for total new-vehicle sales is expected to be 16.4 million units, up 1.6 million units from March 2023. New-vehicle total sales for Q1 2024 are projected at 3,830,500 units, a 4.5% increase from Q1 2023 when adjusted for selling days as the Biden Administration recovery continues.
New-vehicle retail sales for March 2024 are also expected to increase when compared with March 2023. Retail sales of new vehicles are forecast at 1,225,000 units, a 10.7% increase from March 2023. New-vehicle retail sales for Q1 2024 are projected at 3,066,500 units, a 4.5% increase from Q1 2023 when adjusted for selling days. Continue reading
Posted in auto news, economy, marketing, milestones, news, news analysis, results, sales, transportation
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Bidenomics, David Oakley, Elizabeth Krear, GlobalData, j.d power, Ken Zino, March US new vehicle sales, Thomas King
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February Global Light Vehicle Sales at 85M Annual Rate
The Global Light Vehicle (LV) selling rate rose to 85 million units annually in February2024, according to an analysis just released by the respected consultancy GlobalData.* This is an increase from 82 million units/year in January, which is still anemic compared to the second half of 2023. More than 6 million vehicles were sold in February, although year-over year (YoY) it was down -2.8% YoY largely due to a withering in China.
“Many key markets saw moderate selling rate growth in February. In Europe, it was a mixed picture as Western Europe’s selling rate grew while Eastern Europe’s rate slowed. China’s selling rate improved moderately from January, though it remains somewhat weaker than at the end of 2023. In the US, prices continued to ease, and incentives ratcheted up, supporting market expansion,” the Global Light Vehicle Sales Forecasting Team said. Continue reading
EV Grumblings – Auto Execs Waffling on Growth
With hybrid electric vehicle sales soaring, and the badly needed EV charging infrastructure lagging, there is considerable discussion among auto executives and industry pundits about the EV market.*
As always a walk – or in this case an electrified drive – into the unknown provokes considerable speculation and anxiety about where things are headed. Compounding the EV market grumblings are the intensive capital investments involved and the dire state of our climate with the deleterious effects of global warming increasingly laying waste to large areas of the planet. Continue reading
Posted in alternative fuels, auto news, customer satisfaction, economy, electric vehicles, environment, global warming, marketing, news analysis, public health
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, center for automotive research, EV charging availability anxiety, GlobalData, GlobalData Powertrain Forecasts, Ken Zino, Matt Lucki, Snehasis Ganguly
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Chinese Auto Market is Flying High – Exports a Threat
The Chinese auto market soared at the beginning of 2024, according to numbers and an analysis just released by the respected GlobalData* consultancy. Total Light Vehicle (LV) retail sales – wholesales excluding exports – reached 2 million units in January … 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 →