Industry News: Pickup Trucks Are the Bright Spot In Second Quarter Sales
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By William Maley
IHS Markit recently published their analysis on how long Americans are holding onto their vehicles. The average according to the firm stands at 11.9 years, the highest amount since they have been tracking this. Also, about one in four vehicles is over sixteen years old. We should note that this data came before COVID-19 started to wreak havoc on the U.S. IHS notes that new cars only made up 6.1 percent of vehicles in operation in 2019, down 0.8 percent when compared to high of 2016. This highlights falling new car sales.
But the question lingering over automakers and analysts is will the pandemic cause sales to fall even further as more people hang on to their vehicles.
"People are going to keep their vehicles because they don't know if they're going to be driving to work in the future, they don't know if they're going to be driving to work anytime soon even. If you're not accumulating the miles, you might keep that vehicle on the road a little longer," said Todd Campau, associate director of aftermarket solutions at IHS Markit.
IHS estimates that new cars in operation could drop to 5% or less in the coming year or so. The firm also expects the age to climb upward in the coming years as owners consider whether or not to spend the hefty amount on a car, when their current vehicle is still quite good.
Source: Automotive News (Subscription Required), CNBC
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By William Maley
IHS Markit recently published their analysis on how long Americans are holding onto their vehicles. The average according to the firm stands at 11.9 years, the highest amount since they have been tracking this. Also, about one in four vehicles is over sixteen years old. We should note that this data came before COVID-19 started to wreak havoc on the U.S. IHS notes that new cars only made up 6.1 percent of vehicles in operation in 2019, down 0.8 percent when compared to high of 2016. This highlights falling new car sales.
But the question lingering over automakers and analysts is will the pandemic cause sales to fall even further as more people hang on to their vehicles.
"People are going to keep their vehicles because they don't know if they're going to be driving to work in the future, they don't know if they're going to be driving to work anytime soon even. If you're not accumulating the miles, you might keep that vehicle on the road a little longer," said Todd Campau, associate director of aftermarket solutions at IHS Markit.
IHS estimates that new cars in operation could drop to 5% or less in the coming year or so. The firm also expects the age to climb upward in the coming years as owners consider whether or not to spend the hefty amount on a car, when their current vehicle is still quite good.
Source: Automotive News (Subscription Required), CNBC
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By William Maley
Automakers for the most part were hurting in sales during the second quarter. The COVID-19 pandemic and the economy coming to a screeching halt for a brief time caused new car sales to drop by a third according to Automotive News. But there is a slim silver lining to this, full-size pickups have moved into being the best-selling segment of vehicles.
According to data from Automotive News, one out of four vehicles sold between April and June was a pickup truck. This helped put them ahead of compact crossovers, which have held the top spot for some time. The reason is that trucks didn't take as big of a hit due to 0 percent financing offers from automakers to help bring in buyers. A large number of dealers said they sold the majority of trucks sitting on their lots.
Mark LaNeve, Ford's vice president of U.S. marketing, sales and service provides another reason why trucks didn't fall off a cliff. Speaking to AN, he said that people need trucks for work and "affluent consumers who often buy such vehicles have been less affected by the pandemic."
Trucks still took quite the hit in the quarter,
Chevrolet Silverado: Down 14% Ford F-Series: Down 23% GMC Sierra: Down 4% Ram: Down 35% Source: Automotive News (Subscription Required)
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By David
NEURON EV
CES 2020 has been a busy place this year with more auto companies showing of prototypes and finally production ready auto's than ever before. We have seen so much including the latest in super dense solid state batteries for the EVs to motorcycles and bikes.
This year we now get to see the latest competition to Tesla and Rivian in a well funded California / China based EV auto company called NEURON EV. This company has a swiss army knife of a truck/suv auto as well as a Semi truck that they say is going into production in 2020.
The truck which is seen here in Silver has a sister truck that was running around the streets which is the following Black T-One.
All the details you could ever want can be found here on this truck: https://www.neuronev.co/new-products/t-one-p-gyrwr
The cool thing about this modular truck is that is can be more than a truck, a tractor, a van. there are no limits to how one can configure up this beast of an EV.
The seat options are an interesting take as you can go like how Tesla showed their Semi with a center driving position as a base 3 seat configuration of 3 captain chairs, or a single drivers captain chair and a bench seat behind for 4 people and go from there to cover a wide range of colors, materials, etc. in customizing your auto.
While this company is looking at this modular truck and semi for the US, in china they will have many more auto options including their V.E.G.A. or Versatile Electric Grand Automobile.
The company has great plans and while they have only two models for the US market, China will get many more that includes a medium duty truck, a bus, a MAP or Multipurpose Autonomous Platform focused on shipping yards, a HUB or autonomous transportation auto, in addition to the car, semi and truck.
NEURON EV has not released any details about their hp / torque other than to say class leading at this time. Two wheel drive and All Wheel Drive will be the choices folks will have and talk of a base 300 mile range battery pack. More details are to come later this year.
First Press release of 2020 can be found here:
https://www.neuronev.co/01102020
https://www.youtube.com/channel/UC69MUFfq-4W8qxUWcGltBUg
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By Drew Dowdell
Quarterly:
Ford Motor Company - Down 1.3% for the quarter, Down 3.0% for the year
General Motors Co. - Down 6.3% for the quarter, Down 2.3% for the year
Tesla - Not yet Reported
FCA US LLC - Down 2% for the quarter, Down 1% for the year
Monthly:
Audi of America - Up 14.0% for the month, Up 0.4% for the year
BMW of North America - Up 2.4% for the month, Up 1.8% for the year
Genesis Motor America - Up 262.4% for the month, Up 105.9% for the year
Honda Motor Co. - Down 12.0% for the month, Up 0.2% for the year
Hyundai Motor America - Down 0.6% for the month, Up 3.2% for the year
Infiniti USA - Down 37.8% for the month, Down 21.1% for the year
Jaguar Land Rover North America - Up 2.6% for the year
Kia Motors America - Up 8.0% for the month, Up 4.4% for the year
Mazda North American Operations - Up 6.5% for the month, Down 7.2% for the year
Mercedes-Benz USA - Down 2.4% for the month, Up 1.0% for the year
Mitsubishi Motors North America - Up 10.3% for the month, Up 2.5% for the year
Nissan Group - Down 29.5% for the month, Down 9.9% for the year
Porsche Cars North America Inc. - Up 15.8% for the month, Up 7.6% for the year
Subaru of America, Inc. - Down 3.4% for the month, Up 2.9% for the year
Toyota Motor North America - Down 6.1% for the month, Down 1.8% for the year
Volkswagen of America - Down 13% for the month, Up 2.6% for the year
Volvo Cars of North America, LLC - Up 40% for the month, Up 10.2% for the year
Brands (Quarterly):
Alfa Romeo - Down 12%
Buick - Down 4.3%
Cadillac - Down 2.2%
Chevrolet - Down 6.1%
Chrysler - Down 15%
Dodge - Down 9%
Ford - Down 2.2%
Fiat - Down 49%
GMC - Down 8.5%
Jeep - Down 2%
Lincoln - Up 17.8%
Ram Trucks - Up 6%
Tesla - Not yet Reported
Brands (Monthly):
Acura - Down 3.8%
Audi - Up 14.0%
BMW - Up 4.0%
Genesis - Up 419.7%
Honda - Down 12.9%
Hyundai - Down 0.6%
Infiniti - Down 37.8%
Jaguar - Up 1.9% for the year
Kia - Up 8.0%
Land Rover - Up 2.8% for the year
Lexus - Down 0.6%
Mazda - Up 6.5%
Mercedes-Benz - Down 5.4%
Mercedes-Benz Vans - Up 21.1%
MINI - Down 17.4%
Mitsubishi - Up 10.3%
Nissan - Down 28.4%
Porsche - Up 14.8%
Smart - No Longer Reported
Subaru - Down 3.4%
Toyota - Down 7.2%
Volkswagen - Down 13.0%
Volvo - Up 40%
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