Today - Tuesday, March 3, 2015
- All-electric and plug-in hybrid car sales showed only modest growth in the U.S. during February.
- A slow pace of sales in February was expected for the Leaf and Chevrolet Volt with General Motors and Nissan holding back on marketing efforts in front of this summer's release of next-gen models.
- The surprise of the month may have been BMW i3 topping the 1K mark during the tough weather period and with lower gas prices in the background.
- YTD EV sales are running slightly ahead of last year's pace.
- Looking ahead: Though EV sales are only a fraction of the total U.S. auto market, repping only ~15% of sales of the Toyota Camry for instance, major bets are being laid out by automakers on research and development. Exponential demand growth in the segment will be needed to make the Model X, Chevrolet Bolt, BMW i3, 2016 Toyota Prius PHV, 2016 Leaf, and other notable entries major successes.
- February EV sales scorecard (units): Nissan Leaf 1,198, Model S 1,150 (estimated), BMW i3 1,089, Chevrolet Volt 693, Toyota Prius PHV 397 (plug-in not conventional hybrid), Cadillac ELR 127, Chevrolet Spark 119, BMW 113.
- Related stocks: Tesla Motors (NASDAQ:TSLA), Toyota (NYSE:TM), BMW (OTCPK:BAMXY), Nissan (OTCPK:NSANY), General Motors (NYSE:GM).
- Honda (NYSE:HMC) unit sales +5.0% to 105,466 vs. +13.6% to +15.6% forecast.
- Sales in the Honda division were up 4.1% to 92,474, while Acura sales increased 12.5% to 12,992.
- Sales growth by model: Accord -12.2% to 21,616; Civic -2.5% to 21,038; Pilot +82.7% to 12,629; CR-V +7.4% to 22,298; Acura ILX -26.3% to 959; Acura TLX 3,419 (new).
- The strong response to the new Pilot and CR-V helped Honda increase truck sales 12.6% during the month.
- Mercedes-Benz (OTCPK:DDAIF) unit sales +3.1% to 25,749.
- Sales growth by Mercedes class: C-Class +25.8% to 7,072; E-Class -44% to 2,409; S-Class -21% to 1,413; M-Class +1.8% to 3,316; GL-Class +6% to 1,849.
- Sprinter sales rose 17.9% to 1,675.
- Smart sales dropped 51% to 458.
- Pre-owned sales increased 9.6% to 8,847.
12:54 PM| Comment!
- Toyota (TM -0.4%) reports broad gains in demand in February with new 2015 models holding their own in key segments.
- The Japanese automaker picked up a noticeable chunk of market share over the month as it sales pace topped major rivals.
- Total Toyota sales of 180,467 for the month edged past Ford's tally of 180,383.
- Sales by brand: Toyota +12.1% to 140,429; Lexus +22% to 22,995.
- Sales by model: Corolla +10.0% to 27,839; Prius -6.6% to 12,018; Camry +13.6% to 32,942; Lexus ES -3.9% to 4,192; RAV4 +33.4% to 21,943; Highlander -6.5% to 11,263; Lexus NX 2,666 (new).
10:51 AM| Comment!
- The Macau Gaming Inspection and Coordination Bureau reports gaming revenue in the gambling mecca fell off 48.6% Y/Y to 19.54B patacas ($2.44B).
- The month includes the crucial Chinese New Year holiday.
- Analysts expected a tail-off of 45% to 55% as the sharp crackdown on VIP junkets continues.
- YTD Macau gaming revenue -35.1% to 43.29B patacas.
- Macau-related stocks: MPEL, MGM, WYNN, LVS, OTCPK:GXYEF, OTCPK:SJMHF.
- There's fast action in the loonie (NYSEARCA:FXC) after Canada reports Q4 GDP growth of 2.4% vs. consensus estimates of 2%.
- Everyone from the Bank of Canada on down is worried about an economic slowdown up north thanks to the crash in oil prices. The Canadian dollar has dropped from near par to just $0.80 over the past several months. WIth so many traders leaning to one side, the better-than-expected print has led to a wave of covering, and the loonie quickly adds 80 pips, now up 0.65% on the session.
- ETFs: EWC, CNDA, EWCS, FCAN, QCAN
- Chrysler Fiat Automobiles (NYSE:FCAU) had its strongest February in the U.S. since 2007 despite a harsher period of weather than typical.
- The automaker also extended its streak of consecutive positive sales growth months to 59.
- Brand sales growth: Fiat -5% to 3,289; Chrysler +13% to 28,502; Jeep 21% to 55,642; Dodge -15% to 42,115; Ram +12% to 33,991; Alfa Romeo 47 (new).
- Model sales growth: Jeep Patriot +59% to 10,280; Jeep Wrangler +21% to 12,911; Jeep Cherokee +19% to 14,026; Chrysler 200 +31% to 15,805; Dodge Dart +52% to 7,407; Ram P/U +7% to 31,298; Chrysler Town & Country -4% to 8,341; Fiat 500L +19% to 956; Alfa Romeo 4C (new) 47.
- The automaker says it ended the month with 85 days supply of inventory vs. 101 days last month.
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