Below are some comments from Michelle Krebs around the announcement of Dan Ammann leaving his role as President of GM and moving onto leading Cruise as CEO. If you have any questions or would like to speak to one of our analysts at Autotrader or Kelley Blue Book, please let us know. From Michelle Krebs, … Continued
It’s Monday, and L.A. Auto Show media-preview week. The news has already begun, with General Motors this morning confirming major production moves and staff reductions, with multiple plant closings impacting upwards of 6,000 workers. Salary workforce reductions in the 15 percent range are also underway as G.M. looks to save nearly $5 billion a year … Continued
At a press conference in Japan today, Nissan Motor Company announced that its Chief Executive Officer Hiroto Saikawa has moved to dismiss Carlos Ghosn from his positions as Chairman and Representative Director of the company. Ghosn, a former CEO of Nissan and current Chairman of both Renault and Mitsubishi, had been the subject of an … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.72 percent month-over-month in October. This brought the Manheim Used Vehicle Value Index to 140.9, a 3.4 percent increase from a year ago and a record high for the Index. Looking at trends in weekly Manheim Market Report (MMR) prices, October saw … Continued
October 2018 auto sales in the U.S. came in higher than anticipated, beating the Cox Automotive forecast of 1.33 million vehicles sold. Trucks, SUVs and CUVs carried the month, again, with one manufacturer noting “historic” truck sales. While General Motors did not release October sales, the Cox Automotive team is estimating the company delivered sales … Continued
Tomorrow, Wednesday, Oct. 24, after the market close, both Ford Motor Company and Tesla will report Q3 2018 financial results, kicking off an important earning season for the domestic auto makers. FCA and General Motors will report Q3 numbers the following week. Ahead of the earnings, Cox Automotive’s Industry Insights team pulled together a quick … Continued
Hurricane Michael is hitting the Florida Panhandle today as a strong Category 4 hurricane. Reports from the National Hurricane Center indicate maximum sustained winds of 145 mph—a major weather event. Looking at the area to be most affected by the storm, Jonathan Smoke and the Cox Automotive Industry Insights team are estimating that vehicle loss … Continued
Beating an important deadline, Canada last evening agreed to a proposed deal that would ultimately replace the North American Free Trade Agreement. While details of the new United States-Mexico-Canada Agreement – USMCA – are yet to be finalized, the new guidelines for trade across North America is an important milestone for the auto industry. The … Continued
SEPTEMBER 15 UPDATE: The media coverage of the rain and flooding in the Carolinas has been nothing short of heartbreaking, with many lives impacted, many homes and buildings destroyed. We’re hopeful for a quick recovery in the area, with minimal setbacks from the additional post-rain flooding forecast for this week. Fortunately, this area of the … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 2.01 percent month-over-month in August. This brought the Manheim Used Vehicle Value Index to 139.7, which was a 6.4 percent increase from a year ago and the highest level for the series over its more than 20-year history. Looking at trends in … Continued
