Category: Sales
We’ve been covering the staggering increase of automobile pricing all year, starting with the second-hand surge created by rental industries sucking up used models to replace all the vehicles they dumped during the pandemic. A year of suppressed demand and prolonged restrictions absolutely crippled supply chains and placed the automotive sector in an extremely difficult position going into 2021. We wish we could say things were improving but the most heartening news we’ve come across was the possibility that select manufacturers might soon have a line on semiconductor chips — hopefully encouraging new vehicle production.
But the used market is still heading into uncharted waters. According to data collected by CarGurus, the typical price for a used automobile increased by about 30 percent against this time last year. Though more worrying is how much of that spike is consolidated within the last 90 days. Read More >
What does the future hold for Tesla in China? Expansion, or exports?
That’s the question being asked by an Automotive News story today.
The 2022 BMW 2 Series coupes are on their way. Dynamic testing, drivetrain, and suspension tuning on the two-door compact are nearing conclusion. Production begins in the late summer of 2021.
Rolls-Royce unveiled a Rare Ride today, marking the first time we’re featuring a car in this series on the day of its release. Ultra-luxurious, it’s intended to showcase its owner’s wealth, exclusivity, and picnic planning skills.
Appointed Mazda North American Operations (NAO) president and CEO, Jeff Guyton replaces Masahiro Moro effective June 24th. Recalled to Hiroshima, Moro becomes the newly-minted Chief Communications Officer.
Guyton’s oversight includes North America, Canada, Columbia, and Mexico, along with US and Mexican vehicle production.
Last quarter Ford launched its new Blue Advantage used car buying service, in an attempt to turn clicks into sales for its Ford dealers. Ford promises an excellent experience on its Blue Advantage cars, and the service includes cars from other marques. Dealers have signed up in droves.
BorgWarner’s eTurbo will power the high-voltage hybrid vehicle of an undisclosed major European OEM. BorgWarner’s electric boosting technology increases engine efficiency and performance while meeting emissions regulations. This will be the first application of its electrically-assisted turbocharger in a high-voltage hybrid.
Last week, Toyota financial results for the fiscal year that ended March 31st were announced. Vehicle sales totaled 7,646,000, a decrease of 1,309,000 units, or a little less than 15 percent compared to the previous fiscal year.
Net revenue was $256.7 billion, an 8.8 percent decrease. Operating income decreased from $22.6 billion to $20.7 billion, while income before taxes amounted to $27.6 billion. Net income was up from $19.2 billion to $21.1 billion.
While we’d like to get away from stories about everything becoming more expensive, everything actually is becoming more expensive and it looks like a healthy slice of the population is allegedly willing to go along with it. According to the latest data coming from Cox Automotive, roughly 40 percent of the U.S. population would purchase a vehicle at 12 percent above sticker. There’s always been a subset of shoppers who don’t know when they’re being taken but this represents a healthy share of the country.
It makes one wonder where these surveys were being conducted until Cox summarized the situation as the direct result of a populace beaten down by their environment. Apparently, people no longer expect to find good deals and have not yet reached the point where they’ll feel comfortable driving around in the same busted crate that’s seen them through the last decade as a way to save money. Read More >
The 2021 Acura TLX Type S will pace the field at the Acura Sports Car Challenge at Mid-Ohio in Lexington, Ohio this weekend. The TLX Type S’ debut is one we reported previously, with more details available now than Acura had previously released.
April’s fastest-selling used vehicles were led by the BMW 2 Series, according to iSeeCars. The 20 fastest-selling used vehicles averaged 28.7 days, 1.2-1.7 times faster than it took to sell an ordinary used vehicle. The fastest-selling used vehicles included a mix of sports cars, luxury vehicles, hybrids, and minivans.
According to a tweet this morning, Stellantis CEO Carlos Tavares is giving the company’s top brass at each brand a decade to justify their existence. Suddenly, it’s easy to picture some nervous auto executives dotted around the globe.
Connected vehicle sales will grow 20 percent in 2021, with a 10.4 percent compound annual growth rate (CAGR) between 2020-2026 according to ABI Research, a tech market advisory group.
Torsus’ Praetorian, heavy-duty, off-road 4X4 buses, has announced a number of technical advances. These rugged off-road buses are made to cross some of the most inhospitable terrains on earth.
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