The Truth About Cars » FY 2014 http://www.thetruthaboutcars.com The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. Thu, 24 Jul 2014 14:26:12 +0000 en-US hourly 1 http://wordpress.org/?v=3.9.1 The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. The Truth About Cars no The Truth About Cars editors@ttac.com editors@ttac.com (The Truth About Cars) 2006-2009 The Truth About Cars The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. The Truth About Cars » FY 2014 http://www.thetruthaboutcars.com/wp-content/themes/ttac-theme/images/logo.gif http://www.thetruthaboutcars.com BMW Looking To Increase US Production For Sales Record http://www.thetruthaboutcars.com/2014/03/bmw-looking-to-increase-us-production-for-sales-record/ http://www.thetruthaboutcars.com/2014/03/bmw-looking-to-increase-us-production-for-sales-record/#comments Thu, 20 Mar 2014 12:54:42 +0000 http://www.thetruthaboutcars.com/?p=776457 BMW X4 01

Chasing after a sales record and a 10 percent rise in pretax profit for 2014, BMW looks to increase output at the automaker’s Spartanburg, S.C. plant.

Reuters reports the plant is undergoing the necessary work needed to increase annual production of the automaker’s X Series from 300,000 to 350,000, with BMW chief executive Norbert Reithofer explaining that the U.S. market was one of great potential; thus, the plan to increase capacity. This would be in addition to the 400,000 units BMW aims to assemble in China after necessary investments raised capacity from 300,000 a year ago.

Though Reithofer remained mum on exact figures for how many of the SUVs will exit Spartanburg, as well as whether or not the automaker will introduce the X7 large SUV, he reiterated BMW’s goal of selling over 2 million units this year, having come close with 1.96 million in 2013. He also expects “group profit before tax to rise significantly” this year in spite of “ongoing volatile business conditions.” BMW COO Friedrich Eichiner later clarified Reithofer’s statement, claiming the figure to be “somewhere in the range of a high single-digit and a double-digit amount.”

Augmenting the expanding production, 12 new models are set to debut in the second half of 2014, including the 2 Series, 2 Series Active Tourer, and the i8.

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Tax Refunds, Easy Credit Boost Used Car Prices http://www.thetruthaboutcars.com/2014/03/tax-refunds-easy-credit-boost-used-car-prices/ http://www.thetruthaboutcars.com/2014/03/tax-refunds-easy-credit-boost-used-car-prices/#comments Mon, 10 Mar 2014 13:42:53 +0000 http://www.thetruthaboutcars.com/?p=768770 145640_cars_KJH_

A combination of income tax refunds issued in January and February with accessible financing have boosted used-car prices overall in the first two months of 2014.

Automotive News reports prices rose 1.1 percent year to date, and 0.8 percent over the past month, according to the Manheim Used Vehicle Value Index. Meanwhile, the IRS processed 40.4 million returns in the first two months of the year, refunding $125.8 billion to taxpayers at an average of $3,112, which helped in propping up wholesale used vehicle prices.

Easy credit with attractive terms also aided used-vehicle pricing, making the market “more profitable than the underlying unit sale numbers would suggest” according to Manheim.

Overall sales fell 1 percent from the previous year, and 12 percent from January to 2.05 million units, with used compact cars falling the hardest at 3 percent from last year due to heavy supply and competition from newer vehicles. Used truck sales rose 8 percent in the same period due to high demand and low inventories.

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