Buried in a Reuters article on Hyundai’s new Prius-fighter was talk of Hyundai’s new Aslan sedan. The Aslan is intended to take on the growing sales of imported sedans in South Korea, namely the VW Passat, BMW 3-Series and Audi A4. Based on a front-drive architecture, the Aslan seems to occupy a slot between the Sonata and the Grandeur (aka our Azera) – which made it all the more surprising when Reuters reported that “The automaker is also looking at introducing the Aslan in China, the United States and Middle Eastern countries.”
“I think it’s fairly interesting from a cultural memory standpoint, that American car buyers, for the most part, don’t seem to have memory of gas prices two, three or six months ago,”
Acura’s decision to consolidate both the TL and TSX into a single replacement, did more than just deprive North American consumers of a Made In Japan, manual-equipped Acura sedan. It also helped spell the end of the European Honda Accord.
Today’s Chart comes from J.D. Power, showing the growth of long term loans in the Canadian car market. While 96 month loans are just starting to hit American consumers, the 8 year loan terms have been present in the Great White North for some time. A friend was recently looking at a modestly equipped Big Three Pickup, which would be used for work. The truck, with an MSRP of $35,000 CAD (plus 13 percent sales tax), was offered at 96 months for 3.99%. That would have added up to $6,000 in interest payments over the loan term.
Falling fuel prices are helping to drive sales of SUVs and trucks as of late, but at the expense of more efficient, greener offerings.
Last year, Renault-Nissan resurrected Datsun, positioning the brand for emerging markets — like India, Russia and Indonesia — with a portfolio of models that would attract new, young consumers whose wallets were a bit thin.
It’s not quite working out thus far.
Auto sales in the United States rose 9.4% compared with September 2013 to 1.245M in September 2014. Pickup trucks climbed above 190,000 units for the third consecutive month. The Honda Accord unseated the Toyota Camry for the second time in two months. Chrysler Group used pickup trucks, minivans, and Jeep to generate 68% of the company’s volume as their car sales slid 7%.
Chrysler Group’s market share increased to a Toyota-beating 13.6% from 12.6% a year ago and 12.5% in August of this year. GM’s market share grew to 17.9% from 16.4% in September 2013 as Silverado volume shot up by more than 50%. Ford Motor Company, on the other hand, suffered a decline in market share, falling from 16.2% in September of last year and 15.5% in August of this year to 14.4% in September 2014.
Timothy Cain is the founder of GoodCarBadCar.net, which obsesses over the free and frequent publication of U.S. and Canadian auto sales figures.
Automakers reported sales of more than 1.24 million new vehicles in September 2014, a 9.4% increase compared with the same month one year ago. Auto sales rose 5.5% over the course of 2014’s first three quarters, powered by big improvements at Jeep, Ram, Subaru, and Nissan. (Read More…)