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Tag Archives: j.d power
November US New Vehicle Sales Forecast Record Consumer Spending of $42.8B. Global Sales Good, but Fluid
New-vehicle transaction prices continue to rise, but slower than earlier this year. The average price in November will set a record for the month of $45,872, an increase of 3.1% from a year ago. The record transaction prices mean that buyers are predicted to spend nearly $42.8 billion on new vehicles this month, the highest level ever for the month of November and a 7.0% increase from November 2021 as the Biden Administration recovery continues. Continue reading
Mixed Economic Signals in October US Vehicle Sales
Nonetheless, automaker discounts persist at record lows. Average incentive spending per unit per Power is forecast to total $882, which is down 44.7% from October 2021. This is the sixth straight month below $1000. The question is when do vehicles become un-affordable as the Federal Reserve is deliberately sending the economy into a recession to fight inflation, which the Fed caused by years of of cheap monetary policy that mostly benefited the rich. In a mass market for automobiles, the rich can’t buy all the vehicles as production resumes to pre-pandemic rates that were running at 17 million vehicles annually. Continue reading
Posted in economy, news analysis
Tagged auto industry commentary, autoinformed.com, j.d power, Ken Zino, nada, Patrick Manzi
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NADA Cautious on 2022 US Light Vehicle Sales Outlook
However, September 2021 was the weakest since May 2020, because of pandemic induced supply chain disruptions and parts shortages, which resulted in the lowest saleable inventory for more than three decades. Continue reading
Posted in economy, news analysis, sales
Tagged auto industry commentary, autoinformed.com, j.d power, Ken Zino, lmc automotive, nada, Patrick Manzi
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Expanding EV Choices Increase Buying Consideration
“Although these shoppers are easing off the pedal a bit, the percentage of shoppers who are “somewhat likely” to purchase an EV in the next 12 months increased 2.5 percentage points in August,” Krear notes. Continue reading
Record September for US New-Vehicle Spending at $45,622
While there is a great deal of fretting about the Federal Reserve’s monetary tightening, during September, new-vehicle prices remain at the highest levels, with the average transaction price expected to reach $45,622 – a record for September. This is a 6.3% increase from a year ago and the fourth highest of any month on record. The increase in sales volume, coupled with the near record level transaction prices, is resulting in consumers being on track to spend nearly $43.7 billion on new vehicles this month, the highest level ever for the month of September and a 12% increase from September 2021. Continue reading
Posted in economy, sales
Tagged auto industry commentary, autoinformed.com, j.d power, Jeff Schuster, Ken Zino, lmc automotive, saar, Thomas King
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US Retail New Vehicle Sales to Decline in July. Prices Up
Higher prices along with a rising interest rates are leading to monthly loan payments reaching new all-time highs. After breaking $700 for the first time ever in July, the average monthly finance payment in August is forecast to hit a record $716, up $78 from August 2021. That translates to a 12.2% increase in monthly payments from a year ago, which is above the 11.5% increase in transaction prices. Continue reading
Posted in economy, news analysis, sales
Tagged auto industry commentary, autoinformed.com, j.d power, Ken Zino, lmc automotive, Thomas King
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Demand Greater than Supply during June in US
“The shortage of microchips continues to limit vehicle production, but it’s not the only hurdle. Numerous other supply chain disruptions have limited OEM production, and many OEMs continue to nearly complete their vehicles and park them while they await chips. Unfortunately, these supply chain issues will continue to limit new-vehicle production, inventory and sales levels for the rest of the year,” said Patrick Manzi, chief economist of the National Automobile Dealers Association. Continue reading
Posted in economy, news analysis, sales
Tagged auto industry commentary, autoinformed.com, j.d power, Ken Zino, nada, Patrick Manzi
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Test Drives Key to Chinese Sales Satisfaction
The study also finds that although the core value of a test drive is offering product experience, the quality of the salesperson’s introduction to the product also influences the purchase decision. The percentage of consumers who say they had an excellent introduction during the test drive is 4% higher than among those who say they did not have an excellent introduction. Continue reading
US May Auto Sales – Record Prices as Sales Plunge -29%
“Headwinds continue to stack against a sustained market recovery and stability in vehicle supply. We expect the economy and auto market to remain plagued by volatility for the foreseeable future. Given the elevated risk, it is plausible for 2022 to turn to negative from the 2021 level, with volume down to 14.7 million units. Continue reading
Posted in economy, sales
Tagged auto industry commentary, autoinformed.com, GlobalData, j.d power, Jeff Schuster, Ken Zino, lmc automotive, May 2022 US Auto Sales, nada
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December US Auto Sales Forecast – Lower Volume with Record Prices, Profits
Consumers are projected to spend $50.6 billion on new vehicles this month, the second highest on record for the month of December and the fifth-highest amount for any month on record during the ongoing Biden Administration recovery. Continue reading
Honda, Lexus at Top of ALG Residual Value Awards
Numerous variables, of course, affect the actual residual value of a vehicle over a multi-year lease term, including the former Trump administrations’ inexplicable failure to address the corona virus pandemic, which resulted unnecessary deaths and as well as factory shut downs. Other instances include mileage, quality/reliability, options and feature sets, weather and the macro-economic environment. Continue reading
US September Auto Sales Projected Down -25%
“The mismatch between strong consumer demand and constrained inventory is leading to higher vehicle prices. In September 2021, average transaction prices are expected reach an all-time high of $42,802, the fourth consecutive month over $40,000,” said Thomas King, president of the data and analytics division at J.D. Power. This begs the question, AutoInformed opines, are automakers about to face another revenue threatening affordability crisis? Continue reading
US New Vehicle Sales in May Forecast as Record Setting. Global Sales are Another Matter Entirely
Total new-vehicle sales for May 2021, including retail and non-retail transactions, are projected to reach 1,555,600, a 39.6% increase from May 2020 and a 1.9% decrease from May 2019. The seasonally adjusted annualized rate (SAAR) for total new-vehicle sales is expected to be 16.7 million units, up 4.7 million units from 2020 but down 0.7 million units from 2019. The overall sales results for manufacturers will be mixed. Some are experiencing greater production problems because of semiconductor shortage. This will hurt, perhaps materially in the financial sense, various manufacturers monthly sales and profit performance for May and the months to come. Continue reading
April US Auto Sales About to be Highest Ever. Blip or Trend?
Total new-vehicle sales for April 2021, including retail and non-retail transactions, are forecast to reach 1,479,800 units, a 107.1% increase from April 2020 and a 7.8% increase from April 2019 when adjusted for selling days. Reporting the same numbers without controlling for the number of selling days translates to a 107.1% increase from April 2020 and a 12.1% increase from April 2019. The seasonally adjusted annualized rate (SAAR) for total new-vehicle sales is expected to be 18.1 million units, up 9.4 million units from 2020 and up 1.7 million units from 2019. Continue reading
Current Flows – J.D. Power Now Tracking EV Parity
Today, the EV Index score is 47 (based on the most recent available data from November 2022), with some categories improving and others declining during the 12-month pilot period. The EV Index score and accompanying analysis will be available monthly. The index is of use to people who are considering purchasing, one of the reasons AutoInformed uses it. Continue reading →