Sales of new vehicles declined by nearly 4 percent in the United States in August 2016, a year-over-year drop which followed flatlining sales over the previous three months. Bucking the trend to no small degree in August was capacity-constrained Subaru, which earned 4 percent of the market by selling more than 60,000 new vehicles for the first time in the company’s history.
The Toyota Camry began a streak of 14 consecutive years as America’s best-selling car in 2002. Holding that number one position isn’t easy.
Toyota does not merely need the Camry to continue to live up to its reputation for reliability, and subsequently incite demand. Toyota also requires massive production capacity and a pricing scheme that matches production capacity to demand.
Demand in the United States for conventional midsize cars, however, is falling quickly. Year-to-date, overall midsize car volume is down 8 percent. In July 2016, midsize car sales fell 15 percent.
With a 2016 Camry now attempting to leave dealer lots as a five-year-old car, more than two years since its last refresh, Toyota’s desire for the Camry to maintain its high-volume nature and best-selling posture is now matched by a significant uptick in Camry incentives.
Toyota is now discounting Camrys 27-percent more than just one year ago, with an average incentive spend per Camry of $3,760 in July. (Read More…)
Yes, Camaro sales figures. They’re not attractive, not what General Motors was accustomed to achieving when the reborn Camaro returned in 2009 as a fifth-generation Ford Mustang fighter. Not for the first time, we told you that story yesterday. Much as we all expected that the Camaro, in its final year, would be outsold by the high-production sixth-gen Mustang in its first year, 2015 is over. This is 2016. The Camaro is the new car. The Mustang could be resigned to Yesterday’s News status.
Instead, the Mustang is outselling the Camaro by huge margins, the Dodge Challenger has outsold the Camaro in each of the last three months, and Camaro volume is down 37 percent since May, year-over-year.
What’s an automaker to do? (Read More…)
Nissan is closing in on its goal of owning 10 percent of the North American market, but it opened itself up to plenty of risk along the way.
The surging automaker beat rival Honda in sales during the first half of this year, but only because of boosted incentives and increased fleet sales, Bloomberg reports. Big volume doesn’t always mean big profits. (Read More…)
The Leaf is nowhere to be seen — unless you’re staring at a Nissan dealer lot — and American buyers are barely budging their electric vehicle take up rate. Nissan, it seems, needs another incentive to sweeten its EV pot.
The solution? More free electricity. It’s not a new idea (actually, it’s an expanded version of two-year-old promotion), but the automaker probably figured, why the hell not? (Read More…)
The Cadillac ATS has a fever, and the only cure — according to Cadillac — is more value.
Hoping to reverse a sales slide that’s plagued the automaker’s smallest sedan since its debut, Cadillac plans to simplify the model’s configurations and pack each trim level with more goodies, according to a report in Automotive News. (Read More…)
Summer’s here, and it’s never been a better time to please, please buy one of our cars, General Motors wants buyers to know.
The automaker plans to roll out a host of incentives during the month of June, Automotive News reports, to make up for a month that saw combined sales at all of its divisions sink 18 percent year-over-year. (Read More…)
Fiat’s American retailers are struggling to bring in buyers as well as pay the cost of their dealerships, but help is on the way from the parents.
On March 9, Fiat Chrysler Automobiles pitched a plan to stabilize dealers, offering Fiat stores the opportunity to combine their operations with the Chrysler-Jeep-Dodge-Ram dealers many are adjacent to, Automotive News reports.
The Internet brings transparency to the car buying process and allows us to search the whole country for our favorite car. While shopping for a WRX a few months ago, I got quotes from dealers as far as 1,500 miles away. I ended up skipping the local dealers and travelling to a dealer 80 miles away in order to get the best price.
Leaving your immediate geographical area can be beneficial in many instances, especially if you can find a more competitive market that’s reasonably close. Unscrupulous dealers have caught on to geographical buyers who are only looking for the lowest price. These dealers combine geography and psychology in order to dupe buyers to come in and often get rewarded for their shameless behavior by making the sale.
The CEO of the largest car dealer in the U.S. told Reuters on Wednesday that automakers shouldn’t base incentives on volume, which could jeopardize cutting profits.
“We really have to watch the quality of volume,” AutoNation CEO Mike Jackson told Reuters. “We have to find the right balance between price and volume.”
Jackson said he doesn’t anticipate auto sales to waver far from 2015’s record year, but he does foresee “entering a new chapter” with weaker demand for cars. (Read More…)
Here’s some of the news you may have missed if you were out fighting the holiday crowds and spreading some of that Yuletide cheer by burning the hell out of some cookies you were planning on giving the neighbors. (Read More…)
Executives at Toyota say they expect extraordinary car sales to continue for two more years — although they may not be record-breaking years — before the industry finally slows from its current pace, Bloomberg reported (via Detroit News).
Low gas prices and a better economy will lead automakers to nearly 18 million car sales this year, which could surpass the previous record of 17.4 million set in 2000.
Next year may not be as good as this year, according to Bob Carter, senior vice president of operations for Toyota in the U.S., but it could be close. Even at 17.4 million sales for 2016, industry-wide, “you’re still going to see a smile on all of our faces,” he told Bloomberg.
If you happen to live somewhere in the United States where radio waves can be transmitted and/or received, you’ve no doubt heard of the “Friends and Neighbors” sale that is going on Now At Your Local Ford Dealer. It sounds like a pretty good deal, doesn’t it? Employee pricing for everybody!
Not so fast, my friends.
Like nearly everybody on God’s Green Earth, I qualify for X Plan pricing at Ford. It’s how I effortlessly purchased/leased my Flex and my Fiesta ST. X Plan is Ford’s code for supplier pricing, and it’s typically about four-percent higher than invoice. It also limits the documentation fees that dealers can charge, which can be insane in some states.
Can better deals be negotiated? Certainly. However, for a low-stress car buying experience, it’s hard to beat. You simply walk into a dealership, they print off the X Plan price, you give them your certificate, and you walk out half an hour later with a new set of keys.
Ford also has pricing for actual employees and their immediate families, called A Plan, which is a little bit better than X Plan but it follows essentially the same guidelines. All that’s required is proof of employment and a PIN code you generate from Ford’s employee site.
So wouldn’t you think that “an inside deal for everyone” would be A Plan, or at least X Plan? You’d be somewhat right, but you’d be mostly wrong. Here’s why.
Electric car sales in Georgia have halted after that state stopped offering incentives and started charging a $200 annual fee to recoup lost gas tax revenue, the Atlanta Journal-Constitution reported.
New electric vehicle registrations plummeted 89 percent from June to August after the state stopped offering a $5,000 tax break on top of the $7,500 federal incentive. Georgia’s incentive was one of the most generous in the country.
Georgia’s electric purge could portend a future in highly incentivized states, such as California and Colorado, where electric incentives and sales are still relatively strong.
Volkswagen may discount new car purchases for diesel car owners trading in their illegally polluting cars, German news agency DPA (via Reuters) reported.
The discount would apply to older 1.6-liter models, according to the report, which would need more significant fixes than many other cars. According to Reuters, roughly 2.4 million cars in Germany are affected by the diesel scandal that has cost the automaker billions so far.
In America, more than 350,000 diesel cars would need significant fixes, according to Volkswagen of America chief Michael Horn. In the States and Canada, Volkswagen offers a “loyalty discount” to returning Volkswagen buyers. So far, the diesel discount only applies to cars in Germany.