The Latest Numbers on the Microchip Shortage
Just 2,400 vehicles are being cut from automakers’ production plans worldwide this week because of the microchip shortage, one of the lowest weekly totals in months.
The Latest Numbers on the Microchip Shortage: Another Chip Thumping for N.A.
North American assembly plants took another blow from the microchip shortage last week, as 25,600 vehicles had to be axed from factory schedules there.
U.S. Dealerships Grew for 2nd Year in a Row, Annual Franchise Report Says
The number of U.S. franchised dealerships in 2022 rose for the second year in a row after two years of declines, according to Urban Science’s annual Automotive Franchise Activity Report.
Chip Shortage Getting Better All the Time … But Not for Everybody
As microchip supply slowly but surely improves, some automakers are feeling pinched by the shortage much more acutely than others, new data shows.
Auto Loan Amounts Grow for New, Used Vehicles
Average monthly payments and the average amount financed were higher for both new and used vehicle loans in the fourth quarter of 2022 vs. a year ago.
Used-vehicle Market To Continue To Soften in ’23
“We think 2023 will be interesting,” said Jonathan Banks, VP used-vehicle valuations at J.D. Power. “A lot of different nuances will impact prices but ultimately, we think it’s going to be another great year — just challenging.”
The Latest Numbers on the Microchip Shortage: Improvement, but No End in Sight
“Getting the capacity to supply automotive production takes time, which means we’re still looking at slowed production for months to come,” said Sam Fiorani, AFS vice president of global vehicle forecasting.
Survey Shows Dealers Increasingly Worried About the Economy
Dealers are increasingly worried about the possibility of recession even as improving inventory levels have them more optimistic about the new-vehicle business in 2023.
Used-Auto Sales to Decline Again in ’23
While used-vehicle sales are expected to drop again this year, dealers and used-vehicle experts don’t think the blow to consumer demand and profits will be severe, according to Automotive News.
American Honda Aims For 20%-25% Sales Increase
“Like the rest of the industry, we’re not completely out of the woods with supply issues yet, but we’re optimistic the Honda and Acura brands will achieve higher sales volumes this year,” vice president of sales, Mamadou Diallo says.
Automotive TV Spending Drops In December
Automakers spent an estimated $336 million on national TV spending in December, down 9.8% from December 2021, according to iSpot.tv.
BMW Puts NA Media, Creative Assignments Into Review
The company spends an estimated $160 million on measured media in the U.S., according to agency research firm COMvergence. About $88 million is allocated to off-line channels and $72 million is pegged to digital, per COMvergence.
GM Reclaims U.S. Sales Crown; Toyota Edges Up; Honda, Nissan Still Struggle
U.S. auto sales are forecast to rise slightly in December, helped by moderately improving inventory levels and higher fleet deliveries, but cap a year that will see volume drop below 14 million to the lowest level since 2011.
2022 U.S. Auto Sales Expected to End on High Note
Although not robust enough to compensate for earlier off-months in 2022, U.S. auto sales this year are expected to end strong.
Will 2023 Be a Tough Year for the Auto Industry?
According to CNBC, there’s growing concern on Wall Street that this year’s supply shortages could quickly turn into a “demand destruction” scenario just as auto production is finally ramping back up.
December New Auto Sales To Fall
U.S. total new vehicle retail sales are expected to decline
in December as high vehicle prices and rising borrowing
costs pushed consumers to cut back spending, a report from
industry consultants J.D. Power-LMC Automotive showed
yesterday.
Car Shoppers Sour on Kia, Genesis Dealers
According to a recent study, buy a Buick or an Alfa Romeo
if you want your car shopping experience to be enjoyable. If
you like stress, shop with Kia or Genesis.
Auto Incentives Not Likely to Break 5% Until 2024
Automakers typically offer incentives when interest rates rise, but they aren’t doing so today and they aren’t likely to do so next year, according to a J.D. Power expert.
Toyota Launches Feel-Good Holiday Effort
Toyota is launching two holiday spots, one focused on the general market and the other aimed at Hispanic consumers.
Los Angeles Auto Show Feels Almost Pre-pandemic
To naysayers who insist that auto shows are on their way out of existence, this year’s Automobility LA is Exhibit A on why that’s not the case. The show, which opened to the public last Friday, was absolutely swarming with media during the preshow press events. Both exhibit halls at the Los Angeles Convention Center were filled with a plethora of brands.