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Latest News Dealer News Mobility News Used Car News

Latest News

Dodge cuts to its performance core
Posted on Friday July 03, 2020

Dodge is killing two nameplates that will complete its transformation from a collection of pleasant people haulers into an army of asphalt-eating muscle machines.

The British are coming — with familiar-looking 4X4
Posted on Friday July 03, 2020

A new entry into the SUV market, Ineos, hopes its Grenadier SUV appeals to Land Rover fans.

Automakers withstand downgrade storms – for now
Posted on Thursday July 02, 2020

Moody's Investors Service projects a 20 percent slump in global light-vehicle sales in 2020 and take several years to return to 2019 levels.

Facebook boycott a gamble
Posted on Thursday July 02, 2020

The brands choosing to pull ads from the social media giant are voluntarily giving up a key piece of a digital ad strategy that's even more important as the industry attempts to recover from a dismal second-quarter.

Pacifica Mom is back, after filming ads on an iPhone
Posted on Sunday June 28, 2020

Chrysler had actress Kathryn Hahn create a quarantine-themed series of ads for its minivan, shooting them via iPhone with just two crew members on location to maintain social distancing.

Dealer News

FORD: Q2 volume off 33% with gains for just 2 nameplates
Posted on Thursday July 02, 2020

DETROIT — Ford Motor Co.'s second-quarter U.S. light-vehicle sales fell 33 percent, slightly less than most of the industry, as it was battered by the coronavirus pandemic and a massive drop in fleet orders.

Sales to daily rental companies plummeted 94 percent during the quarter as demand for such services dried up, with a majority of people under stay-at-home orders. Additionally, Ford has been directing whatever inventory is available after a two-month plant shutdown away from rental and into retail channels.

Commercial sales fell 78 percent but increased sequentially through the quarter. Ford officials said the automaker has seen very few canceled commercial vehicle orders and expects to begin filling them as the year continues.

Ford said retail sales in the quarter fell 14 percent, although its retail share grew an estimated full percentage point to 13.3 percent.

"Retail for the industry was a lot better than people would have thought back in March," Mark LaNeve, Ford vice president, U.S. marketing, sales and service, told Automotive News.

Sales of F-Series pickups, the automaker's most popular vehicle line, dropped 23 percent in the quarter, although Ford said it grew an estimated 2.6 percentage points in retail share. The automaker last week unveiled a redesigned F-150 pickup that's expected to go on sale this year. Ford is planning to stagger the launch at its Dearborn. Mich., and Kansas City, Mo., assembly plants so it can continue building the outgoing pickup at one as the other factory changes over to the new model.

Overall, Ford Motor sedan sales dropped 60 percent, SUV deliveries fell 30 percent, and pickup/van volume fell 27 percent during the latest period. All but two nameplates — the Ranger midsize pickup and Explorer large crossover — posted sales declines.

LaNeve said he's hopeful that Ford and the rest of the industry will continue to recover in the third quarter, although the automaker is monitoring states where coronavirus cases continue to rise. LaNeve said he just returned from a tour of 10 dealerships and was impressed with the social distancing measures they have implemented.

"There's no way for me to predict it," he said. "We've had almost no reports of outbreaks within our dealerships. If the governors close those states down, there's nothing we can do about it. But we're looking for the business to continue moderately improving, and we're hoping for the best in terms of containing the virus."

Brands: Ford, down 34%; Lincoln, down 18%

Notable nameplates: Ford F-Series, down 23%; Mustang, down 27%; Escape, down 49%; Expedition, down 42%; Transit, down 57%; Explorer, up 12%; Ranger, up 20%; Fusion, down 55%; Lincoln Navigator, down 37%; Nautilus/MKX, down 39%; Corsair/MKC, down 8.3%

Incentives: Ford, $4,127 per vehicle, down 3% from a year earlier; Lincoln, $6,937 per vehicle, up 7%, ALG says.

Average transaction price: Ford, $42,613, up 12% from a year earlier; Lincoln, $56,641, up 7.1%, according to ALG.

Inventory: Ford ended the quarter with a 75-day supply of vehicles, according to officials.

Quote: "Our performance in Q2 was really driven by Ford and our dealers' deep commitment to customers and quick action taken to support our customers during these unprecedented times. Our support programs continue with our recent introduction of 'Ford Promise' to provide extra security during these difficult times. It's another way Ford is standing with hard-working Americans," LaNeve said in a statement.

Subaru changes mind on quarterly sales reports
Posted on Thursday July 02, 2020

The automaker reversed a decision to switch to quarterly U.S. sales reporting from a monthly cadence, at least for the remainder of this year.

HYUNDAI-KIA: A big drag from fleet as retail shines
Posted on Thursday July 02, 2020

Hyundai, Kia and luxury brand Genesis posted a combined sales decline of 19 percent in June as two of the Korean corporate siblings struggled with lower fleet volume and, in some cases, tight inventories of popular vehicles.

VW: Brand plunges 29% in Q2; Audi down 35%
Posted on Wednesday July 01, 2020

Amid the decline, VW's crossovers accounted for a record 60 percent of sales.

HONDA: Lean stockpiles dent results
Posted on Wednesday July 01, 2020

Sales at American Honda fell 28 percent in the second quarter but just 16 percent in June amid product shortages and signs of recovery.

 

Mobility Report

Dodge cuts to its performance core
Posted on Friday July 03, 2020

Dodge is killing two nameplates that will complete its transformation from a collection of pleasant people haulers into an army of asphalt-eating muscle machines.

The British are coming — with familiar-looking 4X4
Posted on Friday July 03, 2020

A new entry into the SUV market, Ineos, hopes its Grenadier SUV appeals to Land Rover fans.

Automakers withstand downgrade storms – for now
Posted on Thursday July 02, 2020

Moody's Investors Service projects a 20 percent slump in global light-vehicle sales in 2020 and take several years to return to 2019 levels.

Facebook boycott a gamble
Posted on Thursday July 02, 2020

The brands choosing to pull ads from the social media giant are voluntarily giving up a key piece of a digital ad strategy that's even more important as the industry attempts to recover from a dismal second-quarter.

Pacifica Mom is back, after filming ads on an iPhone
Posted on Sunday June 28, 2020

Chrysler had actress Kathryn Hahn create a quarantine-themed series of ads for its minivan, shooting them via iPhone with just two crew members on location to maintain social distancing.

Used Car Market

Online used-car retailer Vroom targets IPO worth at least $281M
Posted on Tuesday June 02, 2020

The company, which has been reporting strong revenues but with net losses, has applied to be traded on the Nasdaq exchange under the VRM ticker symbol. The current share price target would raise between $281 million and $319 million.

5 used-vehicle trends in 2020
Posted on Sunday December 29, 2019

With rising prices of new vehicles pushing away more consumers, the used-vehicle market is hot. What will change next year?

Carvana Q2 net losses continue, but shares soar
Posted on Thursday August 08, 2019

The online used-car retailer continues to rack up losses as it expands into new markets but its share price rallied on a spike in revenue, profit per vehicle and improved second-half outlook.

Average age of vehicles on U.S. roads hits 11.8 years
Posted on Thursday June 27, 2019

The number of light vehicles in operation in the U.S., driven by quality gains and additional technology, hit a record 278 million, an increase of more than 5.9 million, or 2.2 percent, since 2018, IHS Markit said.

How rising depreciation will affect the used-vehicle market
Posted on Friday May 24, 2019

Last year's depreciation rates were relatively low thanks to several factors that simply can't last forever. The rate is expected to grow this year, which will affect the used-vehicle market.


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