Ford’s October Sales Slide 10% Amid Supply Chain Issues
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 Rebound Again; Honda Slips; Hyundai, Kia Advance 3rd Straight Month
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.
Automotive Buyers Are In For A Wait
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.
New-car Prices Easing After Record Highs
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.
How Will the Midterm Elections Impact the Auto Industry?
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.
Microchip Shortage Forces More Car Production Cuts in 2023
Automakers are already beginning to alter 2023 production plans to brace for millions more vehicles lost to microchip shortage.
Outlook: U.S. Auto Sales to Rise in October
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.
Chip Shortage To Improve — A Bit
The forecast for lost 2022 factory production resulting
from microchip shortages has softened by a small amount,
AutoForecast Solutions estimates.
Toyota To Cut Full-year Production Target on Chip Shortage
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.
The Latest Numbers on the Microchip Shortage: Automakers Begin Cutting 2023 Production
While auto chip supply has been improving, there’s no end in sight to the shortage.
NADA: Limited Inventory Issues Beginning To Ease
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.
Automotive TV Spending Down 22% In September
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 Reach 3-Year High in Q3
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.
As Toyota Adds One Crown This Year, It’s on Pace To Lose Another
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.
Market Rebounds in September, Dips in Q3
Ford slips, Toyota, Hyundai, Kia, Subaru U.S. sales edge up in September; GM surges, Stellantis and Nissan fall in Q3.
Toyota, Hyundai, Kia Post Higher September Sales
Monthly U.S. auto sales have been stuck at around 1.1 million since August 2021 as automakers grapple with supply-chain problems, notably a shortage of microchips, Automotive News.
Toyota, Hyundai Post Sept. Gains; Gm Surges, Stellantis and Nissan Slip in Q3
Monthly U.S. auto sales have been stuck at around 1.1 million since August 2021 as automakers grapple with supply chain problems, notably a shortage of microchips.
Stellantis CEO Tavares: Chip Crunch To Continue Through 2023
Stellantis CEO Carlos Tavares says the semiconductor supply situation could begin to ease only toward the end of 2023.
Auto Sales to Stall as Demand Recedes
U.S. light-vehicle sales remain in lower gear as Q3 winds
down, while slumping consumer sentiment threatens a
further downshift, Automotive News reports.
Auto Inventory Improves in Sept
The limited supply of new cars and trucks continues to limit U.S. auto sales, but sales are expected to be up about 9% for the month of September vs. September 2021, according to the latest forecast from S&P Global Mobility.