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.
Used EV Marketplace Gains Steam on Low Prices
“Used EV sales will begin increasing rapidly from here, following a clear path set by new sales,” said Jonathan Smoke, chief economist of Cox Automotive.
Car Dealers Have Almost Normal Inventory Again
As inventory builds, dealers and automakers start to offer discounts to help attract new customers. In March, the sale price of the average new car slipped below sticker price for the first time in almost two years.
Automotive TV Spending Increases 10.5%
Estimated national TV spending by automakers increased 10.5% in March compared to the same period a year ago, up from $195.6 million to $216.1 million, per iSpot.tv.
Q1 Sales Get Boost from Fleet Business
Demand for new vehicles remained strong despite rising transaction prices, and the selling rate jumped to 15.3 million a year.
Auto Industry Outlook Is Both Under Pressure and Historically Great
The three-month period that just ended, said Thomas King, chief product officer at J.D. Power, was the “second best first quarter on record” for dealer gross margin and profits from finance and insurance — trailing only last year’s.
GM Rebound Continues; Ford Gains; Toyota, Stellantis Slip
The overall market rose 8.6 percent to 1.37 million cars and light trucks in March, the highest monthly tally since May 2021, LMC Autmotive estimates, and slightly above the range of forecasts from analysts.
Dealership Count Up, Throughput Falls in ‘22
The Automotive News annual dealer census finds that the number of U.S. franchised dealerships rose in 2022, after two years of declines, while new-vehicle sales per franchise dropped amid slower sales.
Kia Sales Chief: Uncertainty Will Keep Industry in Check
The auto industry is in recovery, but vehicle inventories and retail sales will remain at modest levels throughout the year, according to Eric Watson, vice president of sales operations for Kia America.
Auto Supply Rises, but Loan Payments High
The supply of new cars and trucks continues to improve, as March U.S. auto sales are on pace for an increase of about 6% in March vs. March 2022, Forbes reports.
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.