Tag: Sales

By on October 21, 2017

All-New Mitsubishi Eclipse Cross Compact SUV - Image: Mitsubishi

Last year, Nissan answered Mitsubishi’s prayers by purchasing a majority stake in the struggling Japanese automaker. The company had started out strong in North America at the dawn of the 20th century, with U.S. sales topping 345,000 in 2002. Six years later, volume had fallen by nearly 85 percent.

Mitsubishi was a dead brand walking, at least on these shores.

Now adopted by a wealthy parent, Mitsubishi has access to Nissan’s technology and platforms, but don’t expect the two automakers to start joint production of new products anytime soon. Only two new models — one with a horrible name, the other a long-delayed niche vehicle — will appear in showrooms before the end of the decade.

Still, Mitsubishi is planning for a 30-percent bump in U.S. sales by early 2020. Product isn’t the sole player in the company’s new growth strategy. (Read More…)

By on October 21, 2017

2017 Buick LaCrosse rear - Image: Buick

As part of a larger group of automotive publications, TTAC has access to a variety of content. We wanted to bring you some of the unique content we think lives up to TTAC’s standards and offers legitimate insight or a properly critical viewpoint to car evaluation. This story, by GM Inside News editor Michael Accardi, showcases Buick’s latest attempt to boost flagging LaCrosse sales.

NHTSA documents discovered by GM Inside News reveal Buick will expand its Avenir sub-brand in 2018 with the addition of the LaCrosse.

As the full-size sedan market continues to crumble, and the LaCrosse carries a production-crippling 204-day supply of inventory, Buick will push its flagship sedan further into the premium sphere as it attempts to chase unsatisfied luxury shoppers with its new top-shelf Avenir line. (Read More…)

By on October 16, 2017

2017 Cadillac XT5 - Image: GM China

Imagine a traditional luxury car buyer — yes, some still exist — walks into his or her local Cadillac dealer to check out the radically refreshed 2018 XTS. Naturally, the old XTS is hanging out in the parking lot, quietly serving as potential trade-in. After entering the dealer, a salesperson ushers our buyer over to a virtual reality machine to check out the many glories (and options) that await in the new model.

On the way to that machine, the buyer passes zero Cadillacs. There’s not a CTS or CT6 or hot-selling XT5 in sight. An unlikely scenario? Perhaps. A little weird? Certainly to a repeat (read: aged) buyer. It seems small Cadillac dealers definitely felt that way, as low-volume sales locales soundly rejected head office’s plan to do away with traditional showrooms and physical cars.

As a result, Cadillac has given the ominous-sounding Project Pinnacle a makeover. (Read More…)

By on October 13, 2017

2016 Chevrolet Impala LTZ Detroit - Image: GM

It’s going to be a black Christmas at the Detroit-Hamtramck assembly plant this year. Amid rising inventory levels for the Cadillac CT6, Buick LaCrosse, Chevrolet Impala, and Chevrolet Volt, General Motors plans to shut off the lights for the rest of the year.

Blame the American consumer’s rapidly changing automotive tastes. (Read More…)

By on October 5, 2017

2018 Chevrolet Equinox red - Image: GM

It was another hot month for the 2018 Chevrolet Equinox in September, especially when contrasted with last year’s sales. U.S. sales last month amounted to an 80-percent year-over-year increase, with 27,512 vehicles sold, while Canada’s 2,079 vehicles sales represented a 27-percent increase, year-over-year.

Both countries’ year-to-date tallies are on the upswing, outranking last year’s total by 22 percent in the U.S. and 27 percent north of the border. Good news for General Motors, but worrisome when you consider the main Equinox production line shut down over two weeks ago. Workers at the CAMI plant in Ingersoll, Ontario, are still on strike. Meanwhile, the amount of Equinoxes in GM’s inventory is dropping steadily.

It’s not a crisis yet, but if GM and its unionized plant workers don’t reach an agreement soon, it could turn into one. (Read More…)

By on October 2, 2017

magneti-marelli

Fiat Chrysler is trying to work some financial magic to make itself look more appetizing to prospective investors. However, few buyers are likely to be interested in the whole of FCA. Its North American half has proven adept at assembling sport utility vehicles and Jeep would be a tasty morsel for any company hoping to expand its portfolio. But the Italian arm’s focus on smaller automobiles could get in the way of a potential deal — especially if the buyer already has their own.

CEO Sergio Marchionne wants the company to be purchased by an established automaker, but there are precious few that would want everything it has to offer. One possible solution is to separate subsidiaries from the core group. Marchionne says that might be the best solution for dealing with component supplier Magneti Marelli.

FCA has been of the mind that streamlining the business is the best way to attract investors without harming subsidiaries. After all, it worked well enough for Ferrari. The brand was spun off from FCA in late 2015, and its stock valuation embarked upon a rocket ride to the moon the following month.  (Read More…)

By on September 25, 2017

2017 Ford Taurus

Ford’s new CEO, Jim Hackett, has been milling around the company trying to get a sense of what the automaker needs to thrive in today’s car market. Conducting a summer-long assessment of the company’s current status and action points, Hackett is setting himself up with a greater understanding of where Ford stands in order to share his vision of the automaker’s future with investors in early October.

However, we already have some sense of what that future entails. Hackett has already spoken with leadership from the United Auto Workers, easing union fears that he might try to clean house and cut jobs. But his reassurance that there probably won’t be massive layoffs under his leadership doesn’t guarantee low-margin automobiles won’t be at risk.

This isn’t entirely down to Hackett’s management style, either. Investors were becoming annoyed with former CEO Mark Fields’ lofty long-term strategy, which featured fewer near-term goals aimed at bolstering profitability. Some analysts expect Hackett to end production of models that aren’t big earners — which includes just about everything that isn’t an SUV, crossover, or pickup truck. (Read More…)

By on September 16, 2017

Hyundai santa cruz concept

After Hyundai’s American division canned former CEO David Zuchowski for failing to meet internal sales targets last December, it’s no mystery what Job One is for the new guy.

Kyung Soo Lee, a 61-year-old veteran of the company who started his career back in 1982, takes the helm of a troubled ship next week, Hyundai announced Thursday. As president and CEO, Lee (Kenny to his friends) is responsible for reversing a dismal sales trend that sunk his predecessor, as well as the company’s U.S. fortunes. (Read More…)

By on September 12, 2017

2018 Kia Stonic, Image: Kia

If you’re an aspiring B-segment crossover owner looking for Korean value and a fresh face, but aren’t exactly enamored with the 2018 Hyundai Kona‘s looks, you’re out of luck. For now, anyways. The Kia Stonic, revealed in Europe earlier this summer, is definitely not making the boat ride to America. Well, probably definitely.

Definitely maybe.

The automaker says it has no current plans to offer the subcompact crossover — which is arguably better looking than the U.S.-bound Kona — to utility-crazed on this side of the ocean. It’s clear Kia isn’t so sure of the extent of Americans’ appetite for non-cavernous vehicles. (Read More…)

By on September 5, 2017

suzuki alto works rs-r

Anyone with an interest in odd cars probably has at least a passing fascination with Japanese kei cars. As a member of that small subset of enthusiasts, I have a long-held fantasy that involves owning a Suzuki Alto Works, Daihatsu Mira Turbo, Honda Today, or Honda Acty. But the closest North America ever got was the i-MiEV, which Mitsubishi stretched a few inches to comply with U.S. crash ratings — nullifying its official status as a kei.

Sure, most kei cars are utter garbage from a driving perspective, but their utilitarian quirkiness and microscopic road-presence are difficult to replicate on anything other than a moped. They’re also stupidly affordable, which is one of the reasons they’ve persisted in Japan.

However, that’s beginning to change now that their home country has begun taxing them into extinction. The miniature breed, brought to life specifically so budget-minded motorists can have a vehicle and always find parking, lost roughly 25 percent of its yearly volume since Japan targeted them in 2014 — resulting in a sudden annual deficit of nearly 550,000 pint-sized vehicles.  (Read More…)

By on September 3, 2017

Subaru Dog Ad

Automotive advertising has always been an amalgamation of information and hype. Carmakers use commercials to inform the public of what makes their model different and new, while simultaneously promising an intangible goodness. Mid-century ads were less specific, reassuring prospective customers of a nondescript better way of life, but modern marketing has become much more focused. If ads are to be believed, buying a car today means purchasing more than just the hardware its comprised of — you’re buying an identity.

I’m reminded of a collection of car commercials from the 1960s that essentially vowed to nerds that, if they bought a specific car, they would be pursued endlessly by attractive women. It was a bold and extremely unsubtle way to kick off the new trend.

We’ve come a long way evolved slightly since then, but the concept of identity-focused advertising is more popular than ever. In fact, Subaru attributes a large portion of its own success to marketing that closely associates the brand with good values, family, lovable mutts, and the great outdoors(Read More…)

By on August 30, 2017

Tesla Model X

August saw Tesla Motors slashing prices on practically everything that wasn’t the Model 3. The automaker has a history of endless shifting trims and pricing, and the most recent round of changes focused entirely on top-spec versions of the Model S and Model X. Earlier this month, base-model MSRPs received a haircut.

Assumedly, the automaker wants to move its existing inventory while production of the Model 3 progresses towards the coveted 500,000-units-per-year mark. Yet that ambitious goal is still miles away.

Tesla has been hesitant when it comes to providing sales figures and, while it has begun releasing delivery numbers on a quarterly basis, making monthly estimations is extremely difficult. The automaker said it hit its target of 47,000 units for the first half of 2017 but also referenced a “severe production shortfall” that hindered sales during the second quarter. It plans to make up the difference through the rest of the year and the pricing shift is likely to play a factor.

How much are you saving, exactly, if you buy a Tesla now? (Read More…)

By on August 29, 2017

flooded cars (public domain)

You’ve already noticed an uptick in prices at the pumps, all courtesy of Texas oil refineries shut down by Hurricane Harvey, and further gas price hikes are on the way. However, the stalled storm’s impact on the automotive industry is only just beginning to be felt.

The damage inflicted on the hard-hit Texas coastline and especially in the swamped greater Houston area has the potential to make August a grim month for new car sales, coming in a year that hasn’t been kind to automakers in the United States. (Read More…)

By on August 21, 2017

vw logo volkswagen passat

Financial analysts and industry experts have been expecting Volkswagen to begin selling assets to help cope with the cost of its diesel emissions cheating scandal. The penalty for its deception may have already reached $24.2 billion, and German lawsuits could tack on another $8 billion.

However, Europe’s largest automaker says it’s not interested in selling off properties to recoup losses associated with the scandal. It has another plan to rake in the cash. (Read More…)

By on August 1, 2017

honda fit grille

Exchange rates seriously hurt Japanese manufacturers over the past year as the yen bobbed and weaved following 2015’s surge. However, Honda was not among them. The final quarter of 2016 saw the automaker posting a 27 percent earnings increase, despite being hammered by the same foreign exchange losses as the rest of its Pacific brethren.

The first quarter of 2017 appears to have shaped up much the same way, only with slimmer margins — exactly as Honda predicted. Knowing that the North American market was about to take a turn for the worse, company analysts clung to the hope that more favorable currency rates and higher-than-expected sales in Asia would keep operating profits out of the red. Earnings ultimately creeping ahead by 0.9 percent to 269.21 billion yen ($2.40 billion) for Q1 — no thanks to the United States.  (Read More…)

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