Interested in a Model X? Then you may be better off waiting until the EV SUV actually arrives next year before turning up in a Tesla showroom, or you may end up going home in a Model S instead.
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Tag: supply and demand
Business is booming on the lot, with the industry on pace to move some 16 million vehicles out onto the highway by the end of 2014. However, some Wall Street insiders are growing bearish with this bull market, blaming easy credit for the surge in demand.
Thanks to high consumer demand for SUVs and light trucks, a number of Detroit Three plants are either shortening their summer breaks or eliminating them altogether.
The 2015 Audi A3 Sedan is doing quite well for itself in the United States since its arrival back in April of this year, even if the hipster parties during the sedan’s U.S. unveiling more than likely just amused the automaker’s traditional clientele instead of attracting younger buyers as the party plan intended.
Still mulling over where to build a second North American factory, BMW CEO Norbert Reithofer stated his company would have an answer before the automaker goes on summer break.
Though diesel power is experience increased popularity among United States consumers, the wild fluctuations in the price for a gallon of diesel may put some potential oil-burner owners back on the gasoline bandwagon.
While hybrids like the Toyota Prius and Honda Civic Hybrid are doing well among most consumers, luxury and large SUV consumers are thumbing their nose at hybrid offerings aimed at them.
(Note: header image changed based on whim of E-I-C pro tem, some will understand why — JB)
Detroit Free Press reports former General Motors vice president of communications Steve Harris has been called out of retirement to help guide his former employer through the fallout of the February 2014 ignition recall crisis “for a limited time.” According to spokesman Greg Martin, Harris’ “deep background with GM and proven experience” will be of great benefit to the company. His second return the company — the first in 2006 at the request of then-CEO Rick Wagoner after leaving in 2003 — comes on the heels of successor Selim Bingol’s resignation in April of this year.
Automotive News reports General Motors’ attorney Kenneth Feinberg met with Texas attorney Robert Hilliard at the former’s office within the Beltway to begin preliminary discussions over the claims of the latter’s 300-plus clients affected by the ignition switch recall. During the talk, no agreements were reached regarding compensation, while Hilliard viewing the first meeting as GM’s way of convincing him that it would do “the right thing” by his clients. Feinberg states he is gathering proposals for a compensation program similar to the one he orchestrated for 9/11 victims and victims of other major disasters, and should have a package ready within the next few weeks at the latest.
Long after the first SUV gold rush in the United States, the Detroit Three are gearing up for a second gold rush, this time in China.
Currently, around 2.13 million cars will come off-lease by the end of 2014, up from 1.7 million last year. By 2016 and beyond, however, over 3 million vehicles annually will turn up on many a CPO and used car lot, replacing a long drought with an El Niño-esque flooding of the U.S. used car market.
In a sign the broader economy is on an upswing, small business owners who use commercial vans in their business are replacing their aging equipment with new vans, fueling a boom not seen since the start of the Great Recession.
As inventories of Ford’s Fusion continue to outpace demand — the result of a second plant brought online last year to keep up with demand for the newly redesigned midsize sedan — the automaker has been raising incentives to move more Fusions out of the lot.
Younger buyers and subprime consumers are expected to drive auto sales in 2014, though some banks are already stepping off the accelerator with auto loans due to heavier competition and a desire to protect their margins.
Due to high demand from customers jumping aboard the CLA bandwagon, Mercedes-Benz has warned dealers in the United States that supply of the new four-door coupe will be limited for the first half of 2014.
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