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 is launching two holiday spots, one focused on the general market and the other aimed at Hispanic consumers.
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.
The automotive category spent 12.2% less on national TV spending this October vs. a year ago, and impressions were down 5.5%
The automotive category spent 12.2% less on national TV spending this October compared to a year ago, and impressions were down 5.5%.
Ford Motor’s U.S. sales last month declined by 10% as the automaker battled through supply chain issues that delayed shipments to dealers.
Toyota sales up 28% in October; Volume rose 7% at Hyundai, and 12% to 58,276 — an October record — at Kia, behind higher demand for EVs and healthy retail sales.
New vehicle buyers should expect to wait six months to a year for prices to drop, according to a new report analyzing why the new-car shortage happened and when it will end.
After a multiyear surge in new-car prices, buyers are starting
to see some relief on dealership lots. Inventory levels are
gradually coming back, giving shoppers more options when
browsing showrooms, and some discounting has crept back
into the market, albeit in a limited fashion.
Under a GOP-controlled Congress, several policy experts said they would expect to see a shift from a more active legislative agenda to congressional oversight over the Biden administration’s regulatory authority.
Automakers are already beginning to alter 2023 production plans to brace for millions more vehicles lost to microchip shortage.
U.S. auto retail sales are expected to rise in October as
supply-chain snags ease, making more vehicles available
at dealerships amid higher demand, an industry report from
consultants J.D. Power and LMC Automotive showed.
The forecast for lost 2022 factory production resulting
from microchip shortages has softened by a small amount,
AutoForecast Solutions estimates.
Toyota is finally cutting its fiscal-year production forecast, after clinging to it for months, conceding it must trim its plan for November due to the semiconductor crunch.
While auto chip supply has been improving, there’s no end in sight to the shortage.
The National Automobile Dealers Association (NADA) said the third quarter of 2022 closed with new light-vehicle sales totaling a quarterly average SAAR of 13.3 million, down slightly from a SAAR of 13.4 million during the second quarter of the year.
Automakers spent an estimated 22% less in September on national TV compared to the same period a year ago, according to iSpot.tv.
Auto loan interest rates soared to their highest levels since 2019 while the average monthly payment for new vehicles passed $700 in the third quarter, according to Edmunds.
Through three quarters, Toyota Motor North America is on pace to lose the U.S. sales crown it won in 2021, which ended General Motors’ 90-year reign.
Ford slips, Toyota, Hyundai, Kia, Subaru U.S. sales edge up in September; GM surges, Stellantis and Nissan fall in Q3.