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Industry News: The Run of Near-Record Sales Appears to be Ending
William Maley posted a topic in Industry News
2018 saw a continuation of near-record sales and large profits for automakers in the U.S., but that appears to be coming to an end. Bloomberg reports various factors are conspiring to end this trend such as increasing interest rates and the average price of a new vehicle hitting record highs. While some may point out that 2018 saw a 0.3 percent increase in vehicle deliveries (17.6 million according to AutoData), analysts point that this is due to the tax cuts brought by President Donald Trump last year and automakers selling more vehicles to fleets. Charlie Chesbrough, senior economist at Cox Automotive said that the big U.S. automakers saw deliveries fall at a faster rate "in the last three months of the year than for all of 2018." "For some automakers, the slowdown has already begun,” said Chesbrough. Look at General Motors as an example. For the fourth quarter, GM reported a 2.7 percent drop in sales - 785,229 vs. 806,739 for 2017. “We’ve had a gradually declining trend on retail even with the tax changes. That’s the kind of trajectory we would anticipate given continued headwinds on the economic side,” said Emily Kolinski Morris, Ford’s chief economist. What are we expecting in terms of sales for the coming year? It seems everyone agrees that it will be at or under 17 million vehicles, but estimates vary widely with one predicting 16.5 million due to reductions in fleet purchases. Executives are quick to caution that sales won't implode this year. Scott Keogh, president and chief executive officer of Volkswagen of America said on a conference call that unemployment is low and consumer confidence is high. But the issue uncertainty with Keogh saying consumers are watching "interest rates rise and are wary of what’s been a volatile stock market of late." “When the headlines say that the market has had the worst falloff since 2008, that will rattle consumer confidence,” he said. Source: Bloomberg (Subscription Required) View full article -
The Run of Near-Record Sales Appears to be Ending
William Maley posted an article in Automotive Industry
2018 saw a continuation of near-record sales and large profits for automakers in the U.S., but that appears to be coming to an end. Bloomberg reports various factors are conspiring to end this trend such as increasing interest rates and the average price of a new vehicle hitting record highs. While some may point out that 2018 saw a 0.3 percent increase in vehicle deliveries (17.6 million according to AutoData), analysts point that this is due to the tax cuts brought by President Donald Trump last year and automakers selling more vehicles to fleets. Charlie Chesbrough, senior economist at Cox Automotive said that the big U.S. automakers saw deliveries fall at a faster rate "in the last three months of the year than for all of 2018." "For some automakers, the slowdown has already begun,” said Chesbrough. Look at General Motors as an example. For the fourth quarter, GM reported a 2.7 percent drop in sales - 785,229 vs. 806,739 for 2017. “We’ve had a gradually declining trend on retail even with the tax changes. That’s the kind of trajectory we would anticipate given continued headwinds on the economic side,” said Emily Kolinski Morris, Ford’s chief economist. What are we expecting in terms of sales for the coming year? It seems everyone agrees that it will be at or under 17 million vehicles, but estimates vary widely with one predicting 16.5 million due to reductions in fleet purchases. Executives are quick to caution that sales won't implode this year. Scott Keogh, president and chief executive officer of Volkswagen of America said on a conference call that unemployment is low and consumer confidence is high. But the issue uncertainty with Keogh saying consumers are watching "interest rates rise and are wary of what’s been a volatile stock market of late." “When the headlines say that the market has had the worst falloff since 2008, that will rattle consumer confidence,” he said. Source: Bloomberg (Subscription Required) -
Ford News: Ford To Follow In GM's Footsteps By Reporting Sales Quarterly
William Maley posted a topic in Ford
Ford will soon be joining General Motors in reporting sales every quarter. Automotive News is reporting that Ford will transition to a quarterly call and release of sales numbers beginning in April. The company will still be proving monthly sales numbers to various data agencies. "We feel it's kind of transitioning to more of an industry standard. We think the intense focus on month-to-month numbers is just not how we want to run the business. We believe quarterly will provide great transparency," said Mark LaNeve, Ford's vice president of U.S. marketing, sales and service during a call with analysts and the media. Various analysts have cautioned that moving to quarterly reporting may lead "less transparency and more speculation and errors," especially if some automakers still report monthly. Source: Automotive News (Subscription Required) View full article -
Ford To Follow In GM's Footsteps By Reporting Sales Quarterly
William Maley posted an article in Ford
Ford will soon be joining General Motors in reporting sales every quarter. Automotive News is reporting that Ford will transition to a quarterly call and release of sales numbers beginning in April. The company will still be proving monthly sales numbers to various data agencies. "We feel it's kind of transitioning to more of an industry standard. We think the intense focus on month-to-month numbers is just not how we want to run the business. We believe quarterly will provide great transparency," said Mark LaNeve, Ford's vice president of U.S. marketing, sales and service during a call with analysts and the media. Various analysts have cautioned that moving to quarterly reporting may lead "less transparency and more speculation and errors," especially if some automakers still report monthly. Source: Automotive News (Subscription Required) -
Quarterly: General Motors Co. - Down 2.7% (785,229 Vehicles Sold This Quarter, 2,954,037 Vehicles Sold This Year) Monthly: Jaguar Land Rover North America - Up 23.6% (14,079 Vehicles Sold This Month, 122,626 Vehicles Sold This Year) FCA US LLC - Up 14% (196,520 Vehicles Sold This Month, 2,235,204 Vehicles Sold This Year) Kia Motors America - Up 10.2% (47,428 Vehicles Sold This Month, 589,673 Vehicles Sold This Year) Nissan Group - Up 7.6% (148,720 Vehicles Sold This Month, 1,493,877 Vehicles Sold This Year) Volkswagen of America - Up 5.8% (32,047 Vehicles Sold This Month, 354,064 Vehicles Sold This Year) Mitsubishi Motors North America - Up 5.7% (8,986 Vehicles Sold This Month, 118,074 Vehicles Sold This Year) Porsche Cars North America, Inc. - Up 4.4% (4,086 Vehicles Sold This Month, 57,202 Vehicles Sold This Year) American Honda Motor Co. - Up 3.9% (155,115 Vehicles Sold This Month, 1,604,828 Vehicles Sold This Year) Hyundai Motor America - Up 3% (65,721 Vehicles Sold This Month, 677,946 Vehicles Sold This Year) Subaru of America, Inc. - Up 1.9% (64,541 Vehicles Sold This Month, 680,135 Vehicles Sold This Year) Toyota Motor North America - Down 0.9% (220,910 Vehicles Sold This Month, 2,426,672 Vehicles Sold This Year) Mazda North American Operations - Down 3.8% (25,870 Vehicles Sold This Month, 300,325 Vehicles Sold This Year) BMW of North America - Down 4.4% (37,154 Vehicles Sold This Month, 354,698 Vehicles Sold This Year) Mercedes-Benz USA - Down 8% (36,254 Vehicles Sold This Month, 355,413 Vehicles Sold This Year) Ford Motor Company - Down 8.8% (220,774 Vehicles Sold This Month, 2,497,318 Vehicles Sold This Year) Volvo Cars of North America, LLC - Down 8.8% (8,826 Vehicles Sold This Month, 98,263 Vehicles Sold This Year) Audi of America - Down 16% (22,675 Vehicles Sold This Month, 223,323 Vehicles Sold This Year) Brands (Quarterly): Buick - Down 13.7% (51,257 Vehicles Sold This Quarter, 206,863 Vehicles Sold This Year) Cadillac - Down 2.7% (41,462 Vehicles Sold This Quarter, 154,702 Vehicles Sold This Year) Chevrolet - Down 3.2% (531,985 Vehicles Sold This Quarter, 2,036,023 Vehicles Sold This Year) GMC - Up 3.5% (160,525 Vehicles Sold This Quarter, 556,449 Vehicles Sold This Year) Brands (Monthly): Acura - Up 11.4% (16,774 Vehicles Sold This Month, 158,934 Vehicles Sold This Year) Alfa Romeo - Down 2.7% (1,946 Vehicles Sold This Month, 23,820 Vehicles Sold This Year) Audi - Down 16% (22,675 Vehicles Sold This Month, 223,323 Vehicles Sold This Year) BMW - Up 0.3% (34,357 Vehicles Sold This Month, 311,014 Vehicles Sold This Year) Chrysler - Down 28% (12,425 Vehicles Sold This Month, 165,964 Vehicles Sold This Year) Dodge - Up 17% (32,528 Vehicles Sold This Month, 459,324 Vehicles Sold This Year) Fiat - Down 44% (977 Vehicles Sold This Month, 15,521 Vehicles Sold This Year) Ford - Down 9.6% (209,248 Vehicles Sold This Month, 2,393,731 Vehicles Sold This Year) Genesis - Down 68.5% (614 Vehicles Sold This Month, 9,940 Vehicles Sold This Year) Honda - Up 3% (138,341 Vehicles Sold This Month, 1,445,894 Vehicles Sold This Year) Hyundai - Up 5.6% (65,107 Vehicles Sold This Month, 679,127 Vehicles Sold This Year) Infiniti - Up 10.3% (18,065 Vehicles Sold This Month, 149,280 Vehicles Sold This Year) Jaguar - Up 1.4% (3,462 Vehicles Sold This Month, 30,483 Vehicles Sold This Year) Jeep - Up 10% (80,449 Vehicles Sold This Month, 973,227 Vehicles Sold This Year) Kia - Up 10.2% (47,428 Vehicles Sold This Month, 589,673 Vehicles Sold This Year) Land Rover - Up 33% (10,617 Vehicles Sold This Month, 92,143 Vehicles Sold This Year) Lexus - Up 0.2% (35,524 Vehicles Sold This Month, 298,310 Vehicles Sold This Year) Lincoln - Up 8.5% (11,526 Vehicles Sold This Month, 103,587 Vehicles Sold This Year) Mazda - Down 3.8% (25,870 Vehicles Sold This Month, 300,325 Vehicles Sold This Year) Mercedes-Benz - Down 9.1% (32,016 Vehicles Sold This Month, 315,959 Vehicles Sold This Year) Mercedes-Benz Vans - Up 1.7% (4,116 Vehicles Sold This Month, 38,178 Vehicles Sold This Year) MINI - Down 39.3% (2,797 Vehicles Sold This Month, 43,684 Vehicles Sold This Year) Mitsubishi - Up 5.7% (8,986 Vehicles Sold This Month, 118,074 Vehicles Sold This Year) Nissan - Up 7.2% (130,655 Vehicles Sold This Month, 1,344,597 Vehicles Sold This Year) Porsche - Up 4.4% (4,086 Vehicles Sold This Month, 57,202 Vehicles Sold This Year) Ram Trucks - Up 10% (80,449 Vehicles Sold This Month, 597,368 Vehicles Sold This Year) Smart - Down 26.5% (122 Vehicles Sold This Month, 1,276 Vehicles Sold This Year) Subaru - Up 1.9% (64,541 Vehicles Sold This Month, 680,135 Vehicles Sold This Year) Toyota - Down 1.1% (185,386 Vehicles Sold This Month, 2,128,362 Vehicles Sold This Year) Volkswagen - Up 5.8% (32,047 Vehicles Sold This Month, 354,064 Vehicles Sold This Year) Volvo - Down 8.8% (8,826 Vehicles Sold This Month, 98,263 Vehicles Sold This Year) -
Quarterly: General Motors Co. - Down 2.7% (785,229 Vehicles Sold This Quarter, 2,954,037 Vehicles Sold This Year) Monthly: Jaguar Land Rover North America - Up 23.6% (14,079 Vehicles Sold This Month, 122,626 Vehicles Sold This Year) FCA US LLC - Up 14% (196,520 Vehicles Sold This Month, 2,235,204 Vehicles Sold This Year) Kia Motors America - Up 10.2% (47,428 Vehicles Sold This Month, 589,673 Vehicles Sold This Year) Nissan Group - Up 7.6% (148,720 Vehicles Sold This Month, 1,493,877 Vehicles Sold This Year) Volkswagen of America - Up 5.8% (32,047 Vehicles Sold This Month, 354,064 Vehicles Sold This Year) Mitsubishi Motors North America - Up 5.7% (8,986 Vehicles Sold This Month, 118,074 Vehicles Sold This Year) Porsche Cars North America, Inc. - Up 4.4% (4,086 Vehicles Sold This Month, 57,202 Vehicles Sold This Year) American Honda Motor Co. - Up 3.9% (155,115 Vehicles Sold This Month, 1,604,828 Vehicles Sold This Year) Hyundai Motor America - Up 3% (65,721 Vehicles Sold This Month, 677,946 Vehicles Sold This Year) Subaru of America, Inc. - Up 1.9% (64,541 Vehicles Sold This Month, 680,135 Vehicles Sold This Year) Toyota Motor North America - Down 0.9% (220,910 Vehicles Sold This Month, 2,426,672 Vehicles Sold This Year) Mazda North American Operations - Down 3.8% (25,870 Vehicles Sold This Month, 300,325 Vehicles Sold This Year) BMW of North America - Down 4.4% (37,154 Vehicles Sold This Month, 354,698 Vehicles Sold This Year) Mercedes-Benz USA - Down 8% (36,254 Vehicles Sold This Month, 355,413 Vehicles Sold This Year) Ford Motor Company - Down 8.8% (220,774 Vehicles Sold This Month, 2,497,318 Vehicles Sold This Year) Volvo Cars of North America, LLC - Down 8.8% (8,826 Vehicles Sold This Month, 98,263 Vehicles Sold This Year) Audi of America - Down 16% (22,675 Vehicles Sold This Month, 223,323 Vehicles Sold This Year) Brands (Quarterly): Buick - Down 13.7% (51,257 Vehicles Sold This Quarter, 206,863 Vehicles Sold This Year) Cadillac - Down 2.7% (41,462 Vehicles Sold This Quarter, 154,702 Vehicles Sold This Year) Chevrolet - Down 3.2% (531,985 Vehicles Sold This Quarter, 2,036,023 Vehicles Sold This Year) GMC - Up 3.5% (160,525 Vehicles Sold This Quarter, 556,449 Vehicles Sold This Year) Brands (Monthly): Acura - Up 11.4% (16,774 Vehicles Sold This Month, 158,934 Vehicles Sold This Year) Alfa Romeo - Down 2.7% (1,946 Vehicles Sold This Month, 23,820 Vehicles Sold This Year) Audi - Down 16% (22,675 Vehicles Sold This Month, 223,323 Vehicles Sold This Year) BMW - Up 0.3% (34,357 Vehicles Sold This Month, 311,014 Vehicles Sold This Year) Chrysler - Down 28% (12,425 Vehicles Sold This Month, 165,964 Vehicles Sold This Year) Dodge - Up 17% (32,528 Vehicles Sold This Month, 459,324 Vehicles Sold This Year) Fiat - Down 44% (977 Vehicles Sold This Month, 15,521 Vehicles Sold This Year) Ford - Down 9.6% (209,248 Vehicles Sold This Month, 2,393,731 Vehicles Sold This Year) Genesis - Down 68.5% (614 Vehicles Sold This Month, 9,940 Vehicles Sold This Year) Honda - Up 3% (138,341 Vehicles Sold This Month, 1,445,894 Vehicles Sold This Year) Hyundai - Up 5.6% (65,107 Vehicles Sold This Month, 679,127 Vehicles Sold This Year) Infiniti - Up 10.3% (18,065 Vehicles Sold This Month, 149,280 Vehicles Sold This Year) Jaguar - Up 1.4% (3,462 Vehicles Sold This Month, 30,483 Vehicles Sold This Year) Jeep - Up 10% (80,449 Vehicles Sold This Month, 973,227 Vehicles Sold This Year) Kia - Up 10.2% (47,428 Vehicles Sold This Month, 589,673 Vehicles Sold This Year) Land Rover - Up 33% (10,617 Vehicles Sold This Month, 92,143 Vehicles Sold This Year) Lexus - Up 0.2% (35,524 Vehicles Sold This Month, 298,310 Vehicles Sold This Year) Lincoln - Up 8.5% (11,526 Vehicles Sold This Month, 103,587 Vehicles Sold This Year) Mazda - Down 3.8% (25,870 Vehicles Sold This Month, 300,325 Vehicles Sold This Year) Mercedes-Benz - Down 9.1% (32,016 Vehicles Sold This Month, 315,959 Vehicles Sold This Year) Mercedes-Benz Vans - Up 1.7% (4,116 Vehicles Sold This Month, 38,178 Vehicles Sold This Year) MINI - Down 39.3% (2,797 Vehicles Sold This Month, 43,684 Vehicles Sold This Year) Mitsubishi - Up 5.7% (8,986 Vehicles Sold This Month, 118,074 Vehicles Sold This Year) Nissan - Up 7.2% (130,655 Vehicles Sold This Month, 1,344,597 Vehicles Sold This Year) Porsche - Up 4.4% (4,086 Vehicles Sold This Month, 57,202 Vehicles Sold This Year) Ram Trucks - Up 10% (80,449 Vehicles Sold This Month, 597,368 Vehicles Sold This Year) Smart - Down 26.5% (122 Vehicles Sold This Month, 1,276 Vehicles Sold This Year) Subaru - Up 1.9% (64,541 Vehicles Sold This Month, 680,135 Vehicles Sold This Year) Toyota - Down 1.1% (185,386 Vehicles Sold This Month, 2,128,362 Vehicles Sold This Year) Volkswagen - Up 5.8% (32,047 Vehicles Sold This Month, 354,064 Vehicles Sold This Year) Volvo - Down 8.8% (8,826 Vehicles Sold This Month, 98,263 Vehicles Sold This Year) View full article
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Jeep is seeing record sales of the Wrangler, Through November, sales climbed 25 percent over 2017, to 220,232 vehicles. This year also saw monthly sales record of 29,776 Wranglers sold in April. But there is a bit of problem with the Wrangler. According to Automotive News, dealers have over a 100-day supply of the model. In the beginning of November, dealers were sitting on a 156-day supply of Wranglers. The number has fallen to 135-days at the beginning of this month. But it is still a perplexing problem. How can Jeep dealers have such a huge backlog of Wranglers, despite selling a fair number of them? There are two reasons. The first deals with production. FCA's Toledo, Ohio plant has undergone some changes that allow it to produce nearly double amount of vehicles of the previous line. CEO Mike Manley has said the additional capacity will allow Jeep to expand sales of the Wrangler to other markets. But the other reason is a bit troubling. Some dealers tell AN that the Wrangler is getting too expensive. The starting price of the Wrangler two-door rose $3,950 over the previous generation, while the four-door Unlimited jumped $3,550. The Wrangler is one of the few FCA vehicles that "has traditionally been retailed with little or no consumer cash". "I have the largest Wrangler supply I have ever had. That car has gone up in the last three years $12,000! These freakin' things are $55,000 now. I think that vehicle is price-sensitive, and I think they went a little far with the pricing. They were a little aggressive," said an unnamed dealer in the Midwest. The dealer said the "higher average transaction prices" could lead to higher resale value, "but it's bad when you start putting the price to the point where consumers can't buy them." Other dealers are confident they can continue to sell the Wrangler, despite the higher prices. "We've built capacity and just need to continue to adjust to it. I don't think there's an issue for that car at all," said Eric Nielsen, dealer principal at Nielsen Automotive Group in northern New Jersey. "As with any vehicle within the industry, there is some seasonality when it comes to the Wrangler, and dealers are already preparing for a strong spring," a spokesman for FCA told AN. Source: Automotive News (Subscription Required) View full article
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Jeep is seeing record sales of the Wrangler, Through November, sales climbed 25 percent over 2017, to 220,232 vehicles. This year also saw monthly sales record of 29,776 Wranglers sold in April. But there is a bit of problem with the Wrangler. According to Automotive News, dealers have over a 100-day supply of the model. In the beginning of November, dealers were sitting on a 156-day supply of Wranglers. The number has fallen to 135-days at the beginning of this month. But it is still a perplexing problem. How can Jeep dealers have such a huge backlog of Wranglers, despite selling a fair number of them? There are two reasons. The first deals with production. FCA's Toledo, Ohio plant has undergone some changes that allow it to produce nearly double amount of vehicles of the previous line. CEO Mike Manley has said the additional capacity will allow Jeep to expand sales of the Wrangler to other markets. But the other reason is a bit troubling. Some dealers tell AN that the Wrangler is getting too expensive. The starting price of the Wrangler two-door rose $3,950 over the previous generation, while the four-door Unlimited jumped $3,550. The Wrangler is one of the few FCA vehicles that "has traditionally been retailed with little or no consumer cash". "I have the largest Wrangler supply I have ever had. That car has gone up in the last three years $12,000! These freakin' things are $55,000 now. I think that vehicle is price-sensitive, and I think they went a little far with the pricing. They were a little aggressive," said an unnamed dealer in the Midwest. The dealer said the "higher average transaction prices" could lead to higher resale value, "but it's bad when you start putting the price to the point where consumers can't buy them." Other dealers are confident they can continue to sell the Wrangler, despite the higher prices. "We've built capacity and just need to continue to adjust to it. I don't think there's an issue for that car at all," said Eric Nielsen, dealer principal at Nielsen Automotive Group in northern New Jersey. "As with any vehicle within the industry, there is some seasonality when it comes to the Wrangler, and dealers are already preparing for a strong spring," a spokesman for FCA told AN. Source: Automotive News (Subscription Required) -
Industry News: The Great Disappearance of Affordable American Cars
William Maley posted a topic in Industry News
It is already tough for a number of people to afford a new vehicle as the average transaction price keeps rising. According to Kelly Blue Book, the average transaction price for November rose 2.1 percent to $36,978. This isn't being helped by American automakers deciding to stop producing cars due to changing consumer tastes. This was brought to light last week when General Motors announced that it would be cutting a number of cars including the Chevrolet Cruze. Most automakers and dealers believe consumers will move towards utility vehicles, but some dealers believe that consumers may defect from American automakers because they don't offer the vehicle they are looking for. Chad Martin, a Bowling Green, Ky., dealer tells Automotive News that consumers feel the "affordability pinch" when automakers decide to drop cars to focus more on utility vehicles. For the most part, consumers "generally seem to be shopping for a particular type of vehicle, such as compact cars." Remove them out of your lineup and consumers are likely going to look elsewhere. "What this is going to mean is, you're going to see a somewhat higher defection rate because you don't have the product lineup that particular consumer wants," said Martin. Another big hurdle facing consumers who want to stick with the domestics is pricing. Martin explained that there is more than a $5,000 difference in pricing between compact crossovers and compact sedans. Obviously, the consumer is going to have to absorb that $5,000 difference," said Martin. The numbers from Kelly Blue Book tell the story. Compact Car Average Transaction Price: $20,458 Subcompact Crossover/SUV Average Transaction Price: $24,210 Compact Crossover/SUV Average Transaction Price: $28,765 Jeremy Acevedo, Edmunds' manager of industry analysis agrees with the sentiment said by some dealers that consumers loyal to a segment may look elsewhere. "It's easy for shoppers to move from a Cavalier to a Cobalt to a Cruze. But it's a whole different ballgame moving from a car to an SUV." Source: Automotive News (Subscription Required) View full article -
Toyota News: Toyota's U.S. CEO Believes Car Sales Are Close to Bottoming Out
William Maley posted a topic in Toyota
The past couple of years has seen a lot of talk about consumers are turning away from cars towards trucks and utility vehicles. U.S. automakers have responded to this trend by announcing cuts to their car lineup - General Motors being the latest one. But other automakers are being more cautious. Jim Lentz, CEO of Toyota North America told a gathering at the Detroit Economic Club last week that car sales are reaching the point of bottoming out - just under 30 percent in November sales. Unlike the American brands, Lentz isn't giving up on cars as they represent more than 4 million compact, midsize, and near-luxury cars sold to buyers. "There’s no way I’m going to walk away from that. We are always going to have a bias toward passenger cars,” said Lentz. The Associated Press reports that sales of passenger cars "are on pace to be 800,000 vehicles below 2017, while truck and SUV sales should increase by the same amount." Source: Associated Press View full article -
Toyota's U.S. CEO Believes Car Sales Are Close to Bottoming Out
William Maley posted an article in Toyota
The past couple of years has seen a lot of talk about consumers are turning away from cars towards trucks and utility vehicles. U.S. automakers have responded to this trend by announcing cuts to their car lineup - General Motors being the latest one. But other automakers are being more cautious. Jim Lentz, CEO of Toyota North America told a gathering at the Detroit Economic Club last week that car sales are reaching the point of bottoming out - just under 30 percent in November sales. Unlike the American brands, Lentz isn't giving up on cars as they represent more than 4 million compact, midsize, and near-luxury cars sold to buyers. "There’s no way I’m going to walk away from that. We are always going to have a bias toward passenger cars,” said Lentz. The Associated Press reports that sales of passenger cars "are on pace to be 800,000 vehicles below 2017, while truck and SUV sales should increase by the same amount." Source: Associated Press -
The Great Disappearance of Affordable American Cars
William Maley posted an article in Automotive Industry
It is already tough for a number of people to afford a new vehicle as the average transaction price keeps rising. According to Kelly Blue Book, the average transaction price for November rose 2.1 percent to $36,978. This isn't being helped by American automakers deciding to stop producing cars due to changing consumer tastes. This was brought to light last week when General Motors announced that it would be cutting a number of cars including the Chevrolet Cruze. Most automakers and dealers believe consumers will move towards utility vehicles, but some dealers believe that consumers may defect from American automakers because they don't offer the vehicle they are looking for. Chad Martin, a Bowling Green, Ky., dealer tells Automotive News that consumers feel the "affordability pinch" when automakers decide to drop cars to focus more on utility vehicles. For the most part, consumers "generally seem to be shopping for a particular type of vehicle, such as compact cars." Remove them out of your lineup and consumers are likely going to look elsewhere. "What this is going to mean is, you're going to see a somewhat higher defection rate because you don't have the product lineup that particular consumer wants," said Martin. Another big hurdle facing consumers who want to stick with the domestics is pricing. Martin explained that there is more than a $5,000 difference in pricing between compact crossovers and compact sedans. Obviously, the consumer is going to have to absorb that $5,000 difference," said Martin. The numbers from Kelly Blue Book tell the story. Compact Car Average Transaction Price: $20,458 Subcompact Crossover/SUV Average Transaction Price: $24,210 Compact Crossover/SUV Average Transaction Price: $28,765 Jeremy Acevedo, Edmunds' manager of industry analysis agrees with the sentiment said by some dealers that consumers loyal to a segment may look elsewhere. "It's easy for shoppers to move from a Cavalier to a Cobalt to a Cruze. But it's a whole different ballgame moving from a car to an SUV." Source: Automotive News (Subscription Required) -
Does Ford see the upcoming Ranger as a threat to the sales of the F-150? Joe Hinrichs, Ford's president of global operations says no. "There always will be some substitution, but this is more of a lifestyle vehicle for people who want to use it for different purposes. The F-150's gotten bigger over time and more expensive. We believe there's room now to slot the Ranger in very nicely in the showroom," he told Automotive yesterday at an event kicking off production of the Ranger. The new Ranger is quite expensive with the base XL SuperCab 2WD setting you back $25,395 with destination - higher than the Nissan Frontier ($19,965), Chevrolet Colorado ($21,495), and Toyota Tacoma ($24,480). But the biggest competitor to the Ranger might be the F-150. Despite a higher price ($29,650 for the XL Regular Cab 2WD), Ford is offering a number of incentives that can bring down the price of F-150 into Ranger territory. But there is some good news for the Ranger, as interest in midsize trucks is rising. Automotive News reports that interest was increased 18 percent so far this year, a massive increase compared to the less than 1 percent in 2017. Source: Automotive News (Subscription Required) View full article
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Does Ford see the upcoming Ranger as a threat to the sales of the F-150? Joe Hinrichs, Ford's president of global operations says no. "There always will be some substitution, but this is more of a lifestyle vehicle for people who want to use it for different purposes. The F-150's gotten bigger over time and more expensive. We believe there's room now to slot the Ranger in very nicely in the showroom," he told Automotive yesterday at an event kicking off production of the Ranger. The new Ranger is quite expensive with the base XL SuperCab 2WD setting you back $25,395 with destination - higher than the Nissan Frontier ($19,965), Chevrolet Colorado ($21,495), and Toyota Tacoma ($24,480). But the biggest competitor to the Ranger might be the F-150. Despite a higher price ($29,650 for the XL Regular Cab 2WD), Ford is offering a number of incentives that can bring down the price of F-150 into Ranger territory. But there is some good news for the Ranger, as interest in midsize trucks is rising. Automotive News reports that interest was increased 18 percent so far this year, a massive increase compared to the less than 1 percent in 2017. Source: Automotive News (Subscription Required) -
Quarterly: General Motors Co. - Down 11.1% (694,638 Vehicles Sold This Quarter, 2,168,808 Vehicles Sold This Year) Monthly: FCA US LLC - Up 15% (199,819 Vehicles Sold This Month, 1,679,983 Vehicles Sold This Year) Volvo Cars of North America, LLC - Up 10.3% (8,715 Vehicles Sold This Month, 69,981 Vehicles Sold This Year) Subaru of America, Inc. - Up 3.5% (57,044 Vehicles Sold This Month, 503,418 Vehicles Sold This Year) Hyundai Motor America - Up 1% (57,359 Vehicles Sold This Month, 501,701 Vehicles Sold This Year) BMW of North America - Up 0.2% (29,369 Vehicles Sold This Month, 259,258 Vehicles Sold This Year) Kia Motors America - Down 1.8% (51,503 Vehicles Sold This Month, 452,042 Vehicles Sold This Year) Volkswagen of America - Down 4.8% (30,555 Vehicles Sold This Month, 266,228 Vehicles Sold This Year) Mercedes-Benz USA - Down 5% (30,715 Vehicles Sold This Month, 254,366 Vehicles Sold This Year) American Honda Motor Co. - Down 7% (132,668 Vehicles Sold This Month, 1,206,997 Vehicles Sold This Year) Jaguar Land Rover North America - Down 7.1% (9,006 Vehicles Sold This Month, 86,080 Vehicles Sold This Year) Porsche Cars North America, Inc. - Down 7.1% (5,102 Vehicles Sold This Month, 42,626 Vehicles Sold This Year) Mitsubishi Motors North America - Down 8.6% (7,705 Vehicles Sold This Month, 93,398 Vehicles Sold This Year) Toyota Motor North America - Down 10.4% (203,098 Vehicles Sold This Month, 1,824,235 Vehicles Sold This Year) Ford Motor Company - Down 11.2% (197,404 Vehicles Sold This Month, 1,887,625 Vehicles Sold This Year) Nissan Group - Down 12.2% (122,819 Vehicles Sold This Month, 1,124,682 Vehicles Sold This Year) Mazda North American Operations - Down 17.4% (21,257 Vehicles Sold This Month, 235,122 Vehicles Sold This Year) Audi of America - Brands (Quarterly): Buick - Down 7.3% (45,911 Vehicles Sold This Quarter, 155,606 Vehicles Sold This Year) Cadillac - Down 10.7% (37,291 Vehicles Sold This Quarter, 113,240 Vehicles Sold This Year) Chevrolet - Down 11.4% (485,019 Vehicles Sold This Quarter, 1,504,038 Vehicles Sold This Year) GMC - Down 11.3% (126,417 Vehicles Sold This Quarter, 395,924 Vehicles Sold This Year) Brands (Monthly): Acura - Up 4.4% (13,511 Vehicles Sold This Month, 114,483 Vehicles Sold This Year) Alfa Romeo - Up 29% (1,639 Vehicles Sold This Month, 18,160 Vehicles Sold This Year) Audi - BMW - Up 1.3% (25,908 Vehicles Sold This Month, 225,065 Vehicles Sold This Year) Chrysler - Down 7% (14,683 Vehicles Sold This Month, 127,156 Vehicles Sold This Year) Dodge - Up 41% (42,101 Vehicles Sold This Month, 359,728 Vehicles Sold This Year) Fiat - Down 46% (1,185 Vehicles Sold This Month, 12,084 Vehicles Sold This Year) Ford - Down 11.3% (189,236 Vehicles Sold This Month, 1,812,345 Vehicles Sold This Year) Genesis - Down 75.8% (419 Vehicles Sold This Month, 8,909 Vehicles Sold This Year) Honda - Down 8.2% (119,157 Vehicles Sold This Month, 1,092,514 Vehicles Sold This Year) Hyundai - Up 3% (56,940 Vehicles Sold This Month, 492,792 Vehicles Sold This Year) Infiniti - Down 1.6% (12,536 Vehicles Sold This Month, 105,249 Vehicles Sold This Year) Jaguar - Down 38.1% (2,040 Vehicles Sold This Month, 20,947 Vehicles Sold This Year) Jeep - Up 14% (83,764 Vehicles Sold This Month, 746,194 Vehicles Sold This Year) Kia - Down 1.8% (51,503 Vehicles Sold This Month, 452,042 Vehicles Sold This Year) Land Rover - Up 8.7% (6,966 Vehicles Sold This Month, 746,194 Vehicles Sold This Year) Lexus - Down 6.1% (24,597 Vehicles Sold This Month, 213,622 Vehicles Sold This Year) Lincoln - Down 7.2% (8,168 Vehicles Sold This Month, 75,280 Vehicles Sold This Year) Mazda - Down 17.4% (21,257 Vehicles Sold This Month, 235,122 Vehicles Sold This Year) Mercedes-Benz - Down 9.8% (26,169 Vehicles Sold This Month, 225,384 Vehicles Sold This Year) Mercedes-Benz Vans - Up 44% (4,448 Vehicles Sold This Month, 28,023 Vehicles Sold This Year) MINI - Down 7.4% (3,461 Vehicles Sold This Month, 34,193 Vehicles Sold This Year) Mitsubishi - Down 8.6% (7,705 Vehicles Sold This Month, 93,398 Vehicles Sold This Year) Nissan - Down 13.3% (110,283 Vehicles Sold This Month, 1,019,433 Vehicles Sold This Year) Porsche - Down 7.1% (5,102 Vehicles Sold This Month, 42,626 Vehicles Sold This Year) Ram Trucks - Up 9% (56,447 Vehicles Sold This Month, 416,661 Vehicles Sold This Year) Smart - Down 59.3% (98 Vehicles Sold This Month, 959 Vehicles Sold This Year) Subaru - Up 3.5% (57,044 Vehicles Sold This Month, 503,418 Vehicles Sold This Year) Toyota - Down 10.9% (178,501 Vehicles Sold This Month, 1,610,613 Vehicles Sold This Year) Volkswagen - Down 4.8% (30,555 Vehicles Sold This Month, 266,228 Vehicles Sold This Year) Volvo - Up 10.3% (8,715 Vehicles Sold This Month, 69,981 Vehicles Sold This Year) View full article
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Quarterly: General Motors Co. - Down 11.1% (694,638 Vehicles Sold This Quarter, 2,168,808 Vehicles Sold This Year) Monthly: FCA US LLC - Up 15% (199,819 Vehicles Sold This Month, 1,679,983 Vehicles Sold This Year) Volvo Cars of North America, LLC - Up 10.3% (8,715 Vehicles Sold This Month, 69,981 Vehicles Sold This Year) Subaru of America, Inc. - Up 3.5% (57,044 Vehicles Sold This Month, 503,418 Vehicles Sold This Year) Hyundai Motor America - Up 1% (57,359 Vehicles Sold This Month, 501,701 Vehicles Sold This Year) BMW of North America - Up 0.2% (29,369 Vehicles Sold This Month, 259,258 Vehicles Sold This Year) Kia Motors America - Down 1.8% (51,503 Vehicles Sold This Month, 452,042 Vehicles Sold This Year) Volkswagen of America - Down 4.8% (30,555 Vehicles Sold This Month, 266,228 Vehicles Sold This Year) Mercedes-Benz USA - Down 5% (30,715 Vehicles Sold This Month, 254,366 Vehicles Sold This Year) American Honda Motor Co. - Down 7% (132,668 Vehicles Sold This Month, 1,206,997 Vehicles Sold This Year) Jaguar Land Rover North America - Down 7.1% (9,006 Vehicles Sold This Month, 86,080 Vehicles Sold This Year) Porsche Cars North America, Inc. - Down 7.1% (5,102 Vehicles Sold This Month, 42,626 Vehicles Sold This Year) Mitsubishi Motors North America - Down 8.6% (7,705 Vehicles Sold This Month, 93,398 Vehicles Sold This Year) Toyota Motor North America - Down 10.4% (203,098 Vehicles Sold This Month, 1,824,235 Vehicles Sold This Year) Ford Motor Company - Down 11.2% (197,404 Vehicles Sold This Month, 1,887,625 Vehicles Sold This Year) Nissan Group - Down 12.2% (122,819 Vehicles Sold This Month, 1,124,682 Vehicles Sold This Year) Mazda North American Operations - Down 17.4% (21,257 Vehicles Sold This Month, 235,122 Vehicles Sold This Year) Audi of America - Brands (Quarterly): Buick - Down 7.3% (45,911 Vehicles Sold This Quarter, 155,606 Vehicles Sold This Year) Cadillac - Down 10.7% (37,291 Vehicles Sold This Quarter, 113,240 Vehicles Sold This Year) Chevrolet - Down 11.4% (485,019 Vehicles Sold This Quarter, 1,504,038 Vehicles Sold This Year) GMC - Down 11.3% (126,417 Vehicles Sold This Quarter, 395,924 Vehicles Sold This Year) Brands (Monthly): Acura - Up 4.4% (13,511 Vehicles Sold This Month, 114,483 Vehicles Sold This Year) Alfa Romeo - Up 29% (1,639 Vehicles Sold This Month, 18,160 Vehicles Sold This Year) Audi - BMW - Up 1.3% (25,908 Vehicles Sold This Month, 225,065 Vehicles Sold This Year) Chrysler - Down 7% (14,683 Vehicles Sold This Month, 127,156 Vehicles Sold This Year) Dodge - Up 41% (42,101 Vehicles Sold This Month, 359,728 Vehicles Sold This Year) Fiat - Down 46% (1,185 Vehicles Sold This Month, 12,084 Vehicles Sold This Year) Ford - Down 11.3% (189,236 Vehicles Sold This Month, 1,812,345 Vehicles Sold This Year) Genesis - Down 75.8% (419 Vehicles Sold This Month, 8,909 Vehicles Sold This Year) Honda - Down 8.2% (119,157 Vehicles Sold This Month, 1,092,514 Vehicles Sold This Year) Hyundai - Up 3% (56,940 Vehicles Sold This Month, 492,792 Vehicles Sold This Year) Infiniti - Down 1.6% (12,536 Vehicles Sold This Month, 105,249 Vehicles Sold This Year) Jaguar - Down 38.1% (2,040 Vehicles Sold This Month, 20,947 Vehicles Sold This Year) Jeep - Up 14% (83,764 Vehicles Sold This Month, 746,194 Vehicles Sold This Year) Kia - Down 1.8% (51,503 Vehicles Sold This Month, 452,042 Vehicles Sold This Year) Land Rover - Up 8.7% (6,966 Vehicles Sold This Month, 746,194 Vehicles Sold This Year) Lexus - Down 6.1% (24,597 Vehicles Sold This Month, 213,622 Vehicles Sold This Year) Lincoln - Down 7.2% (8,168 Vehicles Sold This Month, 75,280 Vehicles Sold This Year) Mazda - Down 17.4% (21,257 Vehicles Sold This Month, 235,122 Vehicles Sold This Year) Mercedes-Benz - Down 9.8% (26,169 Vehicles Sold This Month, 225,384 Vehicles Sold This Year) Mercedes-Benz Vans - Up 44% (4,448 Vehicles Sold This Month, 28,023 Vehicles Sold This Year) MINI - Down 7.4% (3,461 Vehicles Sold This Month, 34,193 Vehicles Sold This Year) Mitsubishi - Down 8.6% (7,705 Vehicles Sold This Month, 93,398 Vehicles Sold This Year) Nissan - Down 13.3% (110,283 Vehicles Sold This Month, 1,019,433 Vehicles Sold This Year) Porsche - Down 7.1% (5,102 Vehicles Sold This Month, 42,626 Vehicles Sold This Year) Ram Trucks - Up 9% (56,447 Vehicles Sold This Month, 416,661 Vehicles Sold This Year) Smart - Down 59.3% (98 Vehicles Sold This Month, 959 Vehicles Sold This Year) Subaru - Up 3.5% (57,044 Vehicles Sold This Month, 503,418 Vehicles Sold This Year) Toyota - Down 10.9% (178,501 Vehicles Sold This Month, 1,610,613 Vehicles Sold This Year) Volkswagen - Down 4.8% (30,555 Vehicles Sold This Month, 266,228 Vehicles Sold This Year) Volvo - Up 10.3% (8,715 Vehicles Sold This Month, 69,981 Vehicles Sold This Year) -
Chevrolet News:Chevrolet Readies A New Strategy To Stop Ford and Dodge From Eating Camaro's "Lunch"
William Maley posted a topic in Chevrolet
From 2010 to 2014, the Chevrolet Camaro was undisputed sales champion of the U.S. sports cars. But since 2015, the Camaro has been falling behind the likes of the Ford Mustang. At the time, Chevrolet officials were okay with giving up some volume to boost profitability. Unlike Ford which started focusing on lower-end models, Chevrolet decided to target performance-oriented models with high price tags. But this year, the Camaro has been outsold by both the Mustang and Dodge Challenger - the latter using a platform that is over a decade old. Chevrolet is now planning to fight back by focusing on the lower-end of the market, a place where Ford and Dodge have been making big inroads. "Frankly, they've been eating our lunch. The low [transaction prices] of a four-cylinder ... that's where the bulk of the sales are and that's where our pricing strategy needed improvement. We plan to go head to head — and win," said Al Oppenheiser, chief engineer of the Camaro to Automotive News. Chevrolet has cut prices on the Camaro 1LS, 1LT, and 2LT as part of the 2019 refresh. They have also introduced a 1LE version for the 2.0L turbo-four to better compete with the Mustang EcoBoost. The 1LE brings a chassis package from the 1LE V6, 20-inch wheels, and a six-speed manual for only $30,995 (includes shipping). "What's happening in the sport car segment, there's a lot more volume in the low-to-mid part of the market. We do a phenomenal job with our loaded SS's, and it's great business for us, but the reality is there's an awful lot of people who just want a great looking sports car somewhere in that $30,000 range, and that's what we're going to deliver," said Steve Majoros, Chevy's marketing director for cars and crossovers. Karl Brauer, executive publisher of Kelley Blue Book said Chevrolet adding the 1LE package for the turbo-four Camaro will allow it to be better compete with the Mustang. But he also questioned whether Chevrolet went far enough with the 2019 refresh to address some of styling issues that have turned off some buyers. "It doesn't hurt to have a lot of value for the money. I just wonder if that alone is the real stumbling block," said Brauer. "It just doesn't have the personality that the other two cars offer." Source: Automotive News (Subscription Required) View full article -
New cars are getting more and more expensive. Kelly Blue Book reported earlier this month that the average transaction price of a new car was $35,541, up 1.8 percent compared to the same time last year. This has more consumers checking out the used car lot, causing demand to rise. “Customers forget a new car is now more than $30,000 and they expect it to be $20,000,” said Brian Allan, a senior director at Galpin Motors Inc., to the Wall Street Journal. “When people see the price has gone up, it is sticker shock, especially when people only buy a car every five to six years." Data from Edmunds reports that the gap between the price of a new and used car is now at one "of its largest points in more than a decade". Key reasons for this gap include consumers trending to trucks and SUVs, and automakers adding more expensive tech. This summer saw a strong demand for used cars and analysts are predicting this trend to continue throughout the rest of the year, partly due to dealers stocking more trucks and utility vehicles. Prices of used cars are also on the rise. Edmunds reports that buyers paid an average of $22,489 for a three-year old used car in the second-quarter - up $865 from the same time last year. This isn't good news for automakers as new car sales are starting to slow down and pressure could begin building to deepen discounts to lure consumers back. Lenders have been extending the length of loans and introducing 0 percent financing to make buying new more attractive. Source: Wall Street Journal (Subscription Required) View full article
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New cars are getting more and more expensive. Kelly Blue Book reported earlier this month that the average transaction price of a new car was $35,541, up 1.8 percent compared to the same time last year. This has more consumers checking out the used car lot, causing demand to rise. “Customers forget a new car is now more than $30,000 and they expect it to be $20,000,” said Brian Allan, a senior director at Galpin Motors Inc., to the Wall Street Journal. “When people see the price has gone up, it is sticker shock, especially when people only buy a car every five to six years." Data from Edmunds reports that the gap between the price of a new and used car is now at one "of its largest points in more than a decade". Key reasons for this gap include consumers trending to trucks and SUVs, and automakers adding more expensive tech. This summer saw a strong demand for used cars and analysts are predicting this trend to continue throughout the rest of the year, partly due to dealers stocking more trucks and utility vehicles. Prices of used cars are also on the rise. Edmunds reports that buyers paid an average of $22,489 for a three-year old used car in the second-quarter - up $865 from the same time last year. This isn't good news for automakers as new car sales are starting to slow down and pressure could begin building to deepen discounts to lure consumers back. Lenders have been extending the length of loans and introducing 0 percent financing to make buying new more attractive. Source: Wall Street Journal (Subscription Required) -
Polestar Details How They'll Be Selling Their Vehicles in the U.S.
William Maley posted an article in Volvo
Polestar has revealed new details as to how it plans on selling their vehicles in the U.S. As we have previously reported, Polestar will be using an online system for customers to do research, configure, and order their vehicle. They'll also have the choice of either purchasing a vehicle outright or doing a subscription model where insurance and maintenance is covered in the payment. But as Thomas Ingenlath, CEO of Polestar admits in a statement, "many people want to physically see a car before ordering." That's where Polestar Spaces come into play. These will be franchised by dealers and allow customers to check out the cars and learn more from product information specialists - not working on commission. The spaces will also handle servicing of the vehicles, although customers won't need to drop their vehicles off. Using a smartphone app, customers will be able to schedule a pickup for servicing. Once completed, Polestar will drop the vehicle back off. According to Car and Driver, Polestar will open their first space in New York City in late 2019 or early 2020. Nine more spaces will follow: Atlanta, Boston, Chicago, Dallas or Houston, Los Angeles, Miami, San Francisco, Seattle, and Washington, D.C. Source: Car and Driver, Polestar Polestar – the new electric performance brand and a new approach to car ownership for US customers As a new entrant into the electrified automotive industry, Polestar has confirmed its positioning and innovative go-to-market strategy in the important North American car market. As a start-up electric car brand owned by Volvo Car Group, Polestar will offer electric performance cars with a modern, fully digital customer experience. “Launching an entirely new car brand gives us the opportunity to assess what customers enjoy about car ownership, and what they are less keen on,” says Thomas Ingenlath, Chief Executive Officer at Polestar. “As an electric performance brand, we want to maximize our customer’s enjoyment of driving. Polestars will be great looking cars with avant-garde design that are full of modern technology and great to drive. “We also want to remove the hassle from traditional car ownership. The customer will be able to research, configure and order their car online. They can choose our innovative subscription model that enables them to have all their motoring costs covered by one single monthly payment. “We also know that many people want to physically see a car before ordering, so our customers will be able to meet the brand in a franchised Polestar Space. In a town center location, they’ll interact with non-commissioned product experts who are totally focused on enhancing their brand experience and giving them the information they want and need. They will also have pick-up and delivery servicing, meaning that their days of standing in line at service reception are over.” “Polestar is a global brand from day one, operating in the world’s most important car markets – Europe, China and North America. We will therefore be opening Polestar Spaces in major US cities as demand requires them. We are also developing a new Polestar North America organization to meet the demands of this important market,” concludes Thomas Ingenlath. Polestar’s momentum has been building following its launch as the new electric performance brand. The company’s first car, Polestar 1, was revealed in October 2017 as a 600 hp Electric Performance Hybrid, but with the longest pure electric range of any hybrid in the world. The Polestar 1 will start production in mid-2019 at the new Polestar Production Centre, which is nearing completion. The first full year of production has already sold out, with 200 cars currently destined for North American customers. The brand’s second car, Polestar 2, will be the company’s first full battery electric vehicle and is designed to compete with Tesla Model 3. The Polestar 2 will be revealed early in 2019, with production starting a year later. -
Volvo News: Polestar Details How They'll Be Selling Their Vehicles in the U.S.
William Maley posted a topic in Volvo
Polestar has revealed new details as to how it plans on selling their vehicles in the U.S. As we have previously reported, Polestar will be using an online system for customers to do research, configure, and order their vehicle. They'll also have the choice of either purchasing a vehicle outright or doing a subscription model where insurance and maintenance is covered in the payment. But as Thomas Ingenlath, CEO of Polestar admits in a statement, "many people want to physically see a car before ordering." That's where Polestar Spaces come into play. These will be franchised by dealers and allow customers to check out the cars and learn more from product information specialists - not working on commission. The spaces will also handle servicing of the vehicles, although customers won't need to drop their vehicles off. Using a smartphone app, customers will be able to schedule a pickup for servicing. Once completed, Polestar will drop the vehicle back off. According to Car and Driver, Polestar will open their first space in New York City in late 2019 or early 2020. Nine more spaces will follow: Atlanta, Boston, Chicago, Dallas or Houston, Los Angeles, Miami, San Francisco, Seattle, and Washington, D.C. Source: Car and Driver, Polestar Polestar – the new electric performance brand and a new approach to car ownership for US customers As a new entrant into the electrified automotive industry, Polestar has confirmed its positioning and innovative go-to-market strategy in the important North American car market. As a start-up electric car brand owned by Volvo Car Group, Polestar will offer electric performance cars with a modern, fully digital customer experience. “Launching an entirely new car brand gives us the opportunity to assess what customers enjoy about car ownership, and what they are less keen on,” says Thomas Ingenlath, Chief Executive Officer at Polestar. “As an electric performance brand, we want to maximize our customer’s enjoyment of driving. Polestars will be great looking cars with avant-garde design that are full of modern technology and great to drive. “We also want to remove the hassle from traditional car ownership. The customer will be able to research, configure and order their car online. They can choose our innovative subscription model that enables them to have all their motoring costs covered by one single monthly payment. “We also know that many people want to physically see a car before ordering, so our customers will be able to meet the brand in a franchised Polestar Space. In a town center location, they’ll interact with non-commissioned product experts who are totally focused on enhancing their brand experience and giving them the information they want and need. They will also have pick-up and delivery servicing, meaning that their days of standing in line at service reception are over.” “Polestar is a global brand from day one, operating in the world’s most important car markets – Europe, China and North America. We will therefore be opening Polestar Spaces in major US cities as demand requires them. We are also developing a new Polestar North America organization to meet the demands of this important market,” concludes Thomas Ingenlath. Polestar’s momentum has been building following its launch as the new electric performance brand. The company’s first car, Polestar 1, was revealed in October 2017 as a 600 hp Electric Performance Hybrid, but with the longest pure electric range of any hybrid in the world. The Polestar 1 will start production in mid-2019 at the new Polestar Production Centre, which is nearing completion. The first full year of production has already sold out, with 200 cars currently destined for North American customers. The brand’s second car, Polestar 2, will be the company’s first full battery electric vehicle and is designed to compete with Tesla Model 3. The Polestar 2 will be revealed early in 2019, with production starting a year later. View full article -
Chevrolet News:Chevrolet Still Sees Cars As An Important Part Of Their Lineup
William Maley posted a topic in Chevrolet
Chevrolet believes that it gain more market share in subcompacts to full-size sedans as other competitors leave the market, most notably Ford. "It's a pretty big opportunity for us. As other people are making noise about leaving the car business or thrifting back their portfolio, there's still business to be had there. It's just going about the business in a smart fashion," said Steve Majoros, Chevrolet's marketing director for cars and crossovers to Automotive News. While the car market in the U.S. continues to shrink as more buyers go for SUVs and crossovers, it still represents more than four million possible customers and an opportunity for Chevrolet to introduce itself to this group. Plus, compact and midsize segments still representative one in every five vehicles sold. Majoros believes that sales of cars have "hit the floor." "There's still volume to be had there. We've done a nice job about taking a responsible approach to the product. If other competitors are leaving, we're very happy to pick up that business, and we'll certainly do that." Source: Automotive News (Subscription Required) View full article -
Chevrolet Readies A New Strategy To Stop Ford and Dodge From Eating Camaro's "Lunch"
William Maley posted an article in Chevrolet
From 2010 to 2014, the Chevrolet Camaro was undisputed sales champion of the U.S. sports cars. But since 2015, the Camaro has been falling behind the likes of the Ford Mustang. At the time, Chevrolet officials were okay with giving up some volume to boost profitability. Unlike Ford which started focusing on lower-end models, Chevrolet decided to target performance-oriented models with high price tags. But this year, the Camaro has been outsold by both the Mustang and Dodge Challenger - the latter using a platform that is over a decade old. Chevrolet is now planning to fight back by focusing on the lower-end of the market, a place where Ford and Dodge have been making big inroads. "Frankly, they've been eating our lunch. The low [transaction prices] of a four-cylinder ... that's where the bulk of the sales are and that's where our pricing strategy needed improvement. We plan to go head to head — and win," said Al Oppenheiser, chief engineer of the Camaro to Automotive News. Chevrolet has cut prices on the Camaro 1LS, 1LT, and 2LT as part of the 2019 refresh. They have also introduced a 1LE version for the 2.0L turbo-four to better compete with the Mustang EcoBoost. The 1LE brings a chassis package from the 1LE V6, 20-inch wheels, and a six-speed manual for only $30,995 (includes shipping). "What's happening in the sport car segment, there's a lot more volume in the low-to-mid part of the market. We do a phenomenal job with our loaded SS's, and it's great business for us, but the reality is there's an awful lot of people who just want a great looking sports car somewhere in that $30,000 range, and that's what we're going to deliver," said Steve Majoros, Chevy's marketing director for cars and crossovers. Karl Brauer, executive publisher of Kelley Blue Book said Chevrolet adding the 1LE package for the turbo-four Camaro will allow it to be better compete with the Mustang. But he also questioned whether Chevrolet went far enough with the 2019 refresh to address some of styling issues that have turned off some buyers. "It doesn't hurt to have a lot of value for the money. I just wonder if that alone is the real stumbling block," said Brauer. "It just doesn't have the personality that the other two cars offer." Source: Automotive News (Subscription Required) -
Volvo Cars of North America, LLC - Up 23.8% (8,622 Vehicles Sold This Month, 56,244 Vehicles Sold This Year) Mitsubishi Motors North America - Up 23.4% (9,950 Vehicles Sold This Month, 77,277 Vehicles Sold This Year) Volkswagen of America - Up 12.7% (30,520 Vehicles Sold This Month, 203,418 Vehicles Sold This Year) Subaru of America, Inc. - Up 6.7% (59,426 Vehicles Sold This Month, 382,286 Vehicles Sold This Year) FCA US LLC - Up 6% (170,970 Vehicles Sold This Month, 1,286,446 Vehicles Sold This Year) Porsche Cars North America, Inc. - Up 3.1% (4,020 Vehicles Sold This Month, 33,441 Vehicles Sold This Year) Audi of America - Up 2.1% (19,221 Vehicles Sold This Month, 127,163 Vehicles Sold This Year) BMW Group U.S. - Down 0.3% (26,278 Vehicles Sold This Month, 202,300 Vehicles Sold This Year) Ford Motor Company - Down 3.1% (194,026 Vehicles Sold This Month, 1,471,717 Vehicles Sold This Year) Hyundai Motor America - Down 4% (51,752 Vehicles Sold This Month, 386,800 Vehicles Sold This Year) Kia Motors America - Down 5.8% (53,112 Vehicles Sold This Month, 346,675 Vehicles Sold This Year) Toyota Motor North America - Down 6% (208,770 Vehicles Sold This Month, 1,398,082 Vehicles Sold This Year) American Honda Motor Co. - Down 8.2% (138,602 Vehicles Sold This Month, 926,426 Vehicles Sold This Year) Mazda North American Operations - Down 10.9% (24,125 Vehicles Sold This Month, 188,049 Vehicles Sold This Year) Nissan Group - Down 15.2% (108,792 Vehicles Sold This Month, 889,487 Vehicles Sold This Year) Mercedes-Benz USA - Down 20.1% (23,058 Vehicles Sold This Month, 199,466 Vehicles Sold This Year) Jaguar Land Rover North America - Brands: Acura - Down 6.6% (13,247 Vehicles Sold This Month, 85,900 Vehicles Sold This Year) Alfa Romeo - Up 65% (2,016 Vehicles Sold This Month, 14,281 Vehicles Sold This Year) Audi - Up 2.1% (19,221 Vehicles Sold This Month, 127,163 Vehicles Sold This Year) BMW - Up 0.1% (21,982 Vehicles Sold This Month, 175,368 Vehicles Sold This Year) Chrysler - Down 13% (11,624 Vehicles Sold This Month, 100,254 Vehicles Sold This Year) Dodge - 0% (31,119 Vehicles Sold This Month, 282,052 Vehicles Sold This Year) Fiat - Down 45% (1,240 Vehicles Sold This Month, 9,525 Vehicles Sold This Year) Ford - Down 2.7% (186,128 Vehicles Sold This Month, 1,413,550 Vehicles Sold This Year) Genesis - Down 63% (615 Vehicles Sold This Month, 7,877 Vehicles Sold This Year) Honda - Down 8.4% (125,355 Vehicles Sold This Month, 840,526 Vehicles Sold This Year) Hyundai - Down 2.45% (51,137 Vehicles Sold This Month, 378,922 Vehicles Sold This Year) Infiniti - Down 10.1% (9,747 Vehicles Sold This Month, 81,917 Vehicles Sold This Year) Jaguar - Jeep - Up 15% (79,906 Vehicles Sold This Month, 574,928 Vehicles Sold This Year) Kia - Down 5.8% (53,112 Vehicles Sold This Month, 346,675 Vehicles Sold This Year) Land Rover - Lexus - Down 12.1% (25,403 Vehicles Sold This Month, 160,403 Vehicles Sold This Year) Lincoln - Down 11% (7,898 Vehicles Sold This Month, 58,167 Vehicles Sold This Year) Mazda - Down 10.9% (24,125 Vehicles Sold This Month, 188,049 Vehicles Sold This Year) Mercedes-Benz - Down 22.7% (20,034 Vehicles Sold This Month, 178,882 Vehicles Sold This Year) Mercedes-Benz Vans - Up 5.9% (2,921 Vehicles Sold This Month, 19,831 Vehicles Sold This Year) MINI - Down 2.3% (4,296 Vehicles Sold This Month, 26,932 Vehicles Sold This Year) Mitsubishi - Up 23.4% (9,950 Vehicles Sold This Month, 77,277 Vehicles Sold This Year) Nissan - Down 15.7% (99,045 Vehicles Sold This Month, 807,570 Vehicles Sold This Year) Porsche - Up 3.1% (4,020 Vehicles Sold This Month, 33,441 Vehicles Sold This Year) Ram Trucks - Up 2% (45,065 Vehicles Sold This Month, 305,406 Vehicles Sold This Year) Smart - Down 43.4% (103 Vehicles Sold This Month, 753 Vehicles Sold This Year) Subaru - Up 6.7% (59,426 Vehicles Sold This Month, 382,286 Vehicles Sold This Year) Toyota - Down 5.1% (183,367 Vehicles Sold This Month, 1,237,679 Vehicles Sold This Year) Volkswagen - Up 12.7% (30,520 Vehicles Sold This Month, 203,418 Vehicles Sold This Year) Volvo - Up 23.8% (8,622 Vehicles Sold This Month, 56,244 Vehicles Sold This Year) View full article
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Chevrolet Still Sees Cars As An Important Part Of Their Lineup
William Maley posted an article in Chevrolet
Chevrolet believes that it gain more market share in subcompacts to full-size sedans as other competitors leave the market, most notably Ford. "It's a pretty big opportunity for us. As other people are making noise about leaving the car business or thrifting back their portfolio, there's still business to be had there. It's just going about the business in a smart fashion," said Steve Majoros, Chevrolet's marketing director for cars and crossovers to Automotive News. While the car market in the U.S. continues to shrink as more buyers go for SUVs and crossovers, it still represents more than four million possible customers and an opportunity for Chevrolet to introduce itself to this group. Plus, compact and midsize segments still representative one in every five vehicles sold. Majoros believes that sales of cars have "hit the floor." "There's still volume to be had there. We've done a nice job about taking a responsible approach to the product. If other competitors are leaving, we're very happy to pick up that business, and we'll certainly do that." Source: Automotive News (Subscription Required)
