Nissan Gets In On The (March) Madness
The automaker is entering its fourth year as an NCAA corporate partner of March Madness for both the men’s and women’s tournaments.
Feb. New Light-Vehicle Sales Overperform
New light-vehicle sales for February 2024 exceeded expectations. February 2024’s SAAR totaled 15.8 million units, up 6.3% from February 2023 and up 6% from January 2024, which had seen a 10-month low.
Ford’s US Auto Sales Rise 10.5% in February on SUV, Hybrid Demand
Ford Motor Co reported a 10.5% rise in U.S. sales for February, helped by sustained demand for family crossover SUVs, pickup trucks and hybrid vehicles. Sales of its SUVs were up about 22% to 76,403 units.
Toyota, Honda, Hyundai Reap the Rewards
Increased incentive spending, a sharp rebound in inventory and demand for hybrids helped five of the seven automakers still reporting monthly sales to post solid gains in February, even as a few brands slipped.
Ford Slashes Price of 2023 Mustang Mach-E After Sales Plunge
Amid an industry-wide slowdown in electric vehicle demand, Ford’s EV sales fell 11 percent in January. “We are adjusting pricing for 2023 models as we continue to adapt to the market to achieve the optimal mix of sales growth and customer value,” Ford said in the statement.
Rivian and Lucid To Report Q4 Earnings as the Once-Hot Startups Face Cooling EV Demand
The two startups are burning through cash as they pivot to higher volume models. Rivian plans to launch its R2 platform for more affordable vehicles at an event on March 7, and Lucid plans to launch its Gravity crossover this year, tapping into the bigger utility market after lackluster demand for the Air.
New-Vehicle Inventory Eases to 2.55m in Jan.
Cox Automotive said vehicle inventory stood at 2.55 million in its latest estimate, a 75-day supply, down slightly from 2.7 million the previous month but still 819,000 vehicles — or 47% — higher than a year earlier.
NBCUniversal Makes Bid for Local Auto Advertising
NBC Spot On Automotive lets local auto dealers connect to opportunities to place ads in both English and Spanish across the Peacock streaming hub and various NBCU media properties. The offering is part of NBC Spot On, NBCUniversal’s advanced local OTT advertising platform, which launched in 2020.
Toyota Global EV Sales Quadruple in 2023, Still Big Gap With Goal
But the world’s biggest automaker still requires an exponential 15-fold leap over just the next two years to reach CEO Koji Sato’s proclaimed target of selling about 1.5 million EVs in 2026.
EV Sales Start To Fall In California, an Industry Bellwether
Following a long, seemingly inexorable climb, registrations of battery-electric vehicles in California fell in the fourth quarter of last year. EV sales have now fallen for two consecutive quarters in the state, even as California regulators set a 2035 deadline for all new auto registrations to consist of zero-emission vehicles.
Chevy Leads Latest Ranking of Most-Seen Auto TV Ads
The NFL was a primary impressions delivery vehicle for all five ads on iSpot.tv’s chart. With 277.8 million national TV ad impressions, a commercial for the Chevrolet Silverado takes first place on iSpot.tv’s ranking of the most-seen auto TV ads for Jan. 15-21. A remarkable 98.6% of those impressions came from airings during NFL games and related coverage.
VW, BMW and Kia To Run Super Bowl Spots
The Super Bowl will see the return of BMW and Volkswagen as advertisers after hiatuses while Kia, a marketing mainstay during the Big Game, will be back for the third straight year.
U.S. New-Vehicle Inventory Expected To Rise Again in 2024, Forecast Says
New-vehicle inventory levels in the U.S. are expected to continue to reach post-pandemic highs this year, data analytics firm Cloud Theory said in its 2024 outlook report. U.S. new-vehicle inventories have been on the rise and reached a three-year high of 2.7 million last month, according to Cox Automotive.
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.