U.S. auto sales dropped 2.3 percent last month, with the Detroit 3 and Toyota posting lower volume while Nissan, Honda and Hyundai managed increases as the industry failed to record its first gain of the year, even with the help of an extra selling day, amid the key spring selling season.The seasonally adjusted, annualized pace of sales for April tumbled to 16.41 million -- far below the 16.8 million forecast based on a survey of 10 analysts by Bloomberg. The April sales rate -- the lowest since 15.54 million in Feb. 2014 -- was also down sharply from 17.42 million in March and April 2018’s 17.25 million rate."Forecasters have been expecting the market to slow as higher vehicle prices and higher borrowing costs squeeze many potential buyers," said Charlie Chesbrough, senior economist for Cox Automotive. "And indeed, the sales lion that surprised many in March became a much weaker lamb in April, as revealed in today’s numbers. Robust employment conditions and a strong stock … [Read more...] about New car sales for April 2019: Winners and losers
New car sales down
According to figures released by the Society of the Irish Motor Industry (SIMI), new car registrations in Ireland were down 1.7% in January 2017 compared to the same time last year. The month ended 39,019 new 171 cars registered versus 39,722 in January 2016. Light commercials registrations were down 2.4% (6,394) compared to January last year (6,555), while HGV (Heavy Goods Vehicle) registrations were down 6.3% (456) for January in comparison to the same time last year (487). Commenting on the figures, economist Jim Power said, “Looking ahead to 2017, while the outlook for car sales is a bit more difficult to predict than last year, the projected growth in personal disposable incomes and the availability of credit provide solid support for car sales. However, the impact of Brexit and the increased volume in imported used cars are other issues that may impact on new car sales this year., Overall, though, numbers should be fairly close to last year with perhaps a slight … [Read more...] about New Car Sales In Ireland In January 2017
And in the latest sign the market downturn may be gaining speed, the seasonally adjusted, annualized sales rate – 16.61 million – dropped below 17 million for the second straight month and came in slightly below analysts' forecasts of 16.7 million. It's the lowest monthly SAAR since August 2017, when the pace of sales came in at 16.58 million. In February 2018, the SAAR totaled 17.08 million.Along with January, February is among the weakest months of the year for new-vehicle sales. While car sales continue to slump, demand for popular light-trucks such as the Ford F series, Toyota RAV4, Nissan Rogue and Jeep Wrangler, keystones of the market's recent strength, also fell last month. Overall, car deliveries slumped 11 percent and truck demand rose 1.2 percent. Car News 2020 Hyundai Sonata moves upscale with luxury styling, lighting features The 2020 Hyundai Sonata broke cover yesterday, showing off a new fastback bodystyle bumping it even further ahead of the rest of the … [Read more...] about New car sales for February 2019: Winners and losers
New car registrations in Ireland have reached almost 100,000 in the first 5 months of this year, which is the highest for this time frame since 2008. 99,740 new cars have been registered in the first five months of 2016, which is a 23% increase on the same period last year (80,889). According to official statistics released by the Society of the Irish Motor Industry (SIMI), the growth seen in new car sales over the last three years did slow down in May 2016 – they were down -6% (6,532) compared to May 2015 (6,919). Volkswagen has regained its top spot as Ireland’s bestselling car brand ahead of Toyota and Hyundai. The Volkswagen Golf was the bestselling car in May 2016 (312 units), ahead of the Hyundai Tucson (252) and Skoda Octavia (209). The Hyundai Tucson still holds onto its crown as Ireland’s bestselling car to date in 2016 ahead of the Volkswagen Golf and Ford Focus. Commercial vehicle sales maintained growth in May 2016. Light Commercial Vehicles … [Read more...] about New Car Sales May 2016: What’s Ireland Buying?
Nasir Al-Mulk mosque in Shiraz, Iran With Iran agreeing to curb its nuclear program in return for the end of economic sanctions, carmakers are scrambling to the starting blocks in order to best benefit from the opening of a high-potential market to competition. If you are a regular BSCB reader, you will know that the best-selling cars in Iran are for the most part decades-old designs assembled locally as the lack of true competition in the market has stifled innovation. The domestic best-sellers revolve around just a handful of ageing staples: the Saipa Pride – in essence a 1986 Kia Pride, the Peugeot 405/Pars – a mere facelift of the original Peugeot 405 launched in 1987, the Peugeot 206, Iran Khodro Samand and the new leader: the Saipa Tiba. Tehran, Iran We are therefore potentially on the cusp of a complete reshuffle of the Iranian car market. Freer trade with foreign countries will undoubtedly boost imports and manufacturers will make plans to … [Read more...] about STRATEGY: What future for new car sales in Iran?