The US auto industry will be giving thanks after a month of sales for November worth celebrating. Automakers were facing a potentially tough month, at least compared to the same month last year, which saw increased sales in the aftermath of Hurricane Sandy from pent up demand. Volvo, for example, which reported sales fell 31.17 percent, qualified its performance saying, "Excluding a large fleet deal coupled with damaged cars from Hurricane Sandy in November 2012, our dealers actually had a stron
There was little doubt that the government shutdown, which occupied 16 days of an already-short month, put downward pressure on US auto sales during the month of September. If you weren't one of the 800,000 federal employees who were furloughed without pay during the crisis, you may have been one of many people who decided to put off large purchases like a car or truck until the US government got its act together and turned the lights back on. It seems those people and then some came back in Oct
America's automotive industry continues to boom, with analysts predicting that sales in 2014 will reach over 16 million units while marking just the second time since World War II that the industry has seen five consecutive years of growth. The estimates, if correct, would represent a 500,000-unit improvement over the current projections for 2013.
Sales figures for the US auto industry during July 2013 are in, and the big automakers should be pleased with the numbers they're seeing. American Honda led the pack with a 20.95-percent rise in sales last month, followed by Toyota Motor Company with a 17.28-percent gain and General Motors, which rose 16.32 percent. Ford Motor Company, Chrysler Group and Nissan North America were all up about 11 percent, as well.
Bloomberg reports that if U.S. auto sales continue at their current pace, 2012 will mark the best year for the industry since 2007. The news comes after word that both Ford and Chrysler have slimmed or entirely eliminated the traditional summer shutdown at their manufacturing facilities to keep pace with demand.
Hyundai has had a big year, and the results are showing in the form of healthy profits. According to BusinessWeek, the Korean automaker earned $1.75 billion in the first quarter, up 46 percent versus the first quarter of 2010. Overall revenue was up 21 percent to $17 billion.
The US Auto Industry may be looking at a 2011 filled with sales gains, if NADA's forecasters are correct. The National Automobile Dealer's Association predicts that US auto sales will rise 11.3 percent. That puts total volume just shy of 13 million units.
When you need to reach 46 years into America's past to find comparable auto industry numbers, it's all right to start thinking "Maybe this is pretty serious..." Various estimates of January 2009 U.S. car sales hover around 660,000. According to General Motors executive Mike DiGiovanni, that's "the lowest January in terms of unit sales since 1963."
There were about three million fewer cars sold in 2008 than 2007. Based on 2007's numbers, it would be the same as if Acura, Audi, BMW, Chrysler, Dodge, Jeep, Lexus, MINI, Porsche, and Saab all closed their doors in 2008. In terms of pure automotive carnage, that's not the kind of damage you can just buff out. And the predictions for the future agree on two points: it's going to get worse, and it won't return to what it was for years to come.