U.S. Light-Vehicle Sales Are Expected To Remain Steadfast in August
New light vehicle sales in August are estimated to be 1.34 million units, up 18% year-over-year, according to the report.
Growing Auto Inventory Boosts July Incentives
Automaker spending on new-vehicle incentives rose sharply in July compared with the year-earlier month, driven by electric vehicle offers, luxury car lease deals and growing inventory across the industry, according to estimates by Motor Intelligence and J.D. Power.
Auto Sales Expected To Rise Again in July
New U.S. light vehicle sales volumes are set to rise again in July as easing supply-chain snags help automakers ramp up production to meet pent-up demand, automotive research firm S&P Global Mobility said.
New vehicle inventories up again, to 1.95 million
The U.S. new-vehicle inventory continued its steady climb in June as production recovers, according to data from Cox Automotive and the Automotive News Research & Data Center.
Automotive National TV Spending Dips 18% In June
Automotive national TV spending declined 18.1% in June despite big sports buys, per iSpot.tv. The estimated national TV spending by automakers was $128.7 million, compared to $157.2 million in June 2022.
New Car Affordability Hits Historic Low
New cars priced under $30,000 make up 8% of the market’s supply, down from 38% pre-pandemic, car shopping app CoPilot found.
Light-Vehicle Deliveries Are Forecast To Rise 16% To 23% In June
Stellantis snapped a U.S. sales slump that stretched seven quarters with second quarter U.S. deliveries rising 6 percent while Honda Motor Co.’s rebound continued in June, helped by wider availability of redesigned models.
MediaPost: National Automotive TV Spending Drops 19% In May
Automakers spent an estimated 19.2% less on national television spending in May compared to a year ago according to iSpot.tv. May 2023 spending registered at $156.2 million, compared to $193.3 million in May 2022.
KBB: New-Auto Sales Incentives Increased in May
The average transaction price (ATP) of a new vehicle in the U.S. increased May 2023 to $48,528, a month-over-month increase of 0.5% ($251) from an upwardly revised April reading of $48,277, according to Kelley Blue Book.
Cox: May New Auto Sales Ease, Still Strong
New vehicle inventory levels rose last month and sales are expected to follow suit — at double-digit levels, according to Cox Automotive.
Ford, Tesla Announce Historic Agreement
The top executives from Ford Motor Co. and Tesla announced a historic agreement that will allow Ford customers to use 12,000 Tesla Superchargers across the U.S. and Canada.
Toyota’s Ads Drive Hispanic Loyalty
Toyota isn’t just winning the battle for Hispanic consumers — it’s dominating the nation’s second-largest ethnic group, in a triumph that’s more than 30 years in the making.
Rising Vehicle Ages Are Good News for Aftermarket Parts Suppliers
The average age of passenger vehicles on U.S. roadways climbed to a record this year, as car owners hold on to their vehicles longer amid low supplies of new vehicles and sky-high prices.
Nissan Sees North America Leading Global Sales Surge
Nissan CEO Makoto Uchida forecasts a robust rebound in global sales, as Nissan reports a 52 percent increase in operating profit in the just-ended fiscal year.
Toyota Forecasts Record Production, Sales and Profit
Toyota CEO Koji Sato forecasts record production and sales levels this fiscal year as the automaker plows ahead with expansion and healthy finances.
New Vehicle Inventories Rise Above 1.9 Million to ‘21 Level
New-vehicle inventories continue climbing, even in the face of the fastest sales pace in more than a year. It’s a further sign that production constraints are easing, according to data by Cox Automotive and the Automotive News Research & Data Center.
Average New Car Costs More Than $700 per Month
Recent banking failures may lead to tighter auto financing
and keep new cars out of reach for a growing number of
Americans, MarketWatch reports.
Analysts Estimate Auto Market Expanded Up to 5.7% in April
Analysts estimate that the market expanded up to 5.7 percent in April, with fleet driving most of the gain, as inventories continue to recover.
April U.S. Light-Vehicle Sales to Post Strong Growth; Inventory to Fall from March
Even though the seasonally adjusted annual rate could decline slightly from the prior quarter’s 15.2 million units, sales volume is forecast to rise a robust 13% year-over-year in Q2.
March’s Surge Lifts Q1-2023 North America Production to 11.2% Year-over-Year Increase
Production in Q2 is tracking toward a 10.2% year-over-year increase. If March’s unexpected surge is a firm sign that supply disruptions have improved to a new level, there is more upside to Q2 output.