One- to three-year-old-vehicles are pouring back onto dealer lots, but the predicted drop in used vehicle prices hasn’t happened yet.
Consumer choices (meaning: trucks, trucks, trucks) and the high value of returning vehicles are keeping used prices near record levels, but analysts still expect a drop later this year, Automotive News reports. (Read More…)
“Do you want to get in and out of your car easily and do you want to be able to back out of a tight parking spot?” Ford Mustang buyer and former Chevrolet Camaro shopper John Oglesby wrote to Car And Driver for its September 2016 issue. “If so, you need the Mustang.”
John Oglesby is truly representative of the market as a whole. After holding its position as the top dog in the segment for five years, the Chevrolet Camaro predictably lost its title to the Ford Mustang in 2015, the year of an all-new Mustang; the last year for the now-departed fifth-generation Chevrolet Camaro.
2016 hosted the launch of an all-new Chevrolet Camaro, but a return to sales leadership wasn’t in the cards. Not at any point since the nameplate’s 2009 return has the Camaro sold so poorly. Year-over-year, U.S. Camaro volume is down 15 percent compared with 2015, the Camaro’s previous worst year since returning. (Read More…)
With Nissan Leaf sales falling like autumn foliage, a few enterprising EV fans hope to reverse the trend (or at least slow it) through group discounts.
After a Colorado group negotiated a 248-vehicle Leaf purchase for the you’re kidding me price of $12,130 per unit, other groups now wants a piece of the cheap Leaf action. In Montreal, 2,500 Quebec residents just signed up for a reduced group price, while a Wisconsin group negotiated a similar discount. (Read More…)
With memories of the 2008 financial meltdown still fresh, American consumers aren’t borrowing wildly anymore — except when it comes to cars and credit card purchases.
As of the end of June, car buyers racked up the highest auto loan debt in U.S. history — $1.1 trillion, according to a quarterly report from the Federal Reserve Bank of New York. Also on the rise? Credit risk. (Read More…)
As our own Tim Cain reported this morning, if not for the mid-sized truck sector, total U.S. new vehicle sales volume would have risen by less than one-tenth of one percent. Now, forecasters are reducing their outlook for the remainder of 2016, leading some automakers to start fighting the stagnating market by deploying aggressive incentives.
Sound dangerously familiar? It should. A quote from George Santayana is very appropriate at this juncture: “Those who cannot remember the past are condemned to repeat it.”
The record-setting surge of new vehicle sales as America climbed out of the recession sparked a whole new kind of automotive competition.
A surge in off-lease vehicles returning to dealer lots means the certified pre-owned (CPO) market — once an unsexy afterthought — is now a battleground, and Kia Motors wants everyone to know how well it’s doing. (Read More…)
It worked for Porsche. Now, another luxury automaker is reaping the rewards of catering to the utility crowd.
Jaguar’s decision to market an SUV raised the ire of purists, but it also turbocharged the brand’s U.S. comeback, Bloomberg reports. The British automaker is now the fastest-growing brand in the U.S., with sales propelled by the new F-Pace SUV and entry-level XE sedan. (Read More…)
Volkswagen of America has a new head honcho in charge of product and marketing, and he’ll have his work cut out for him.
Today, Volkswagen named Dr. Hendrik Muth as the new vice-president of product marketing and strategy for its beleaguered U.S. division. His job? To sell vehicles. Ideally, lots of them. (Read More…)
Consider it a low point in German-Korean relations.
Thanks to the diesel emissions scandal, South Korea just decertified about 68 percent of all Volkswagen, Bentley and Audi vehicles sold in that country over the past decade, Reuters reports. The country also revoked the certification of 80 model variants and leveled a large fine, meaning VW’s one-time Asian market breakthrough is truly busted. (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…)