Electric vehicles (EV) might receive significant consumer and media attention, but they only represent a small portion of new-vehicle sales each month. That is expected to dramatically change over the next 5-10 years as OEMs invest their research, development and product planning into electric vehicles. And while EV supply is expected to increase, consumer adoption … Continued
PLYMOUTH, Mich., Sept. 10, 2019 – Rivian today announced an equity investment of $350 million from global automotive services company Cox Automotive. In addition to the investment, the companies will explore partnership opportunities in digital retailing, service operations and logistics. “We are building a Rivian ownership experience that matches the care and consideration that go … Continued
A look at year-to-date new car prospect traffic on Autotrader.com compared to the same period last year shows the top five growth segments (among 17 mainstream segments) in share of overall traffic are all small to midsize SUVs and trucks. It’s no surprise given the general rise in popularity of SUVs and trucks, and as shopper interest … Continued
Atlanta, GA. – September 10, 2019 – With new-vehicle sales declining, it’s more important than ever that dealers seize the opportunity to close every deal. To do so means providing a flexible, customer-friendly car buying experience, which in today’s automotive market, requires dealers to source up-to-the-minute information across industry channels. Recognizing this challenge and in … Continued
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 0.62% month-over-month in August. This brought the Manheim Used Vehicle Value Index to 141.3, a 1.2% increase from a year ago and a record high for the Index.After seeing stability in July in weekly Manheim Market Report (MMR) prices, depreciation returned in … Continued
The stock market kept its winning streak alive with gains for a second week, mainly as a result of optimism about progress with U.S.-China trade talks since a meeting is being planned to continue negotiations in October. The market seemed to shrug off the actual implementation of new tariffs by both the U.S. and China … Continued
Combined rental, commercial and government purchases of new vehicles were up 23% year over year in August, and up 18% month over month. The commercial (+10%) and rental (+45%) fleet channels were up in August. Automakers like Fiat Chrysler Automobiles, General Motors and Nissan all achieved notable gains in fleet sales. Fleet sales are now up 7% … Continued
Our August U.S. auto sales forecast called for the month to finish at 1.59 million, up 6.5% from last year, or an increase of nearly 100,000 units. Several of the reporting automakers posted numbers above our forecast with numerous models achieving “best-ever August” sales. As mentioned in our forecast, the market benefited from an extra selling day, Labor … Continued
Fiat Chrysler Automobiles is ending production of the Fiat 500 and electric 500e in North America – with good reason. FCA said it will wind down production of the models at its plant in Toluca, Mexico, and sell off the remainder of the inventory, a process that likely will go into next year. Sales of … Continued
As expected, the United Auto Workers union chose General Motors as its strike target in the current negotiations for a national contract to replace the one that expires September 14. As a result, the UAW will focus its negotiations with GM. Once those negotiations are completed, the union will turn its attention to Ford and … Continued
