Apr. 20, 2014, 4:07 AM
- Toyota (TM) aims to more than double it sales in China to 2M a year from 917,000 in 2013 and introduce 15 models in the country by the end of 2017. From 2015, the Japanese company intends to produce and sell hybrid versions of its Corolla and Levin cars in China. Toyota unveiled its plans at the Auto China show in Beijing, which has officially kicked off this weekend.
- Ford (F) is unveiling a prototype of the Ford Everest, a seven-seater off-road SUV that will be made by the company's JMC joint venture with Jiangling Motors. At the moment, Ford makes its SUVs with Chongqing Changan Automobile.
- Fiat Chrysler (FIATY) plans to start producing three new Jeeps in China with partner Guangzhou Automobile Group from late 2015 via the companies' GAC Fiat JV, which intends to invest 4.7B yuan ($755.8M) in a project in Guangzhou. The plans have received government approval. GAC Fiat could even make a vehicle customized for the Chinese market.
- GM is on course for "a good month" in the U.S., the head of its North American operations, Alan Batey, has said. GM increased sales in March despite the bad publicity the company suffered because of the ignition-switch defect. GM is launching a new Chevrolet Trax and a redesigned Chevrolet Cruze compact car at Auto China. Batey reckons GM isn't "too far away" from selling 1M Chevrolet vehicles in China after selling 650,000 in 2013.
Apr. 18, 2014, 6:03 AM
- Car makers have been gearing up for two major shows this weekend: the New York International Auto Show, which starts today, and the Beijing International Automotive Exhibition, or Auto China 2014, which starts on Sunday.
- Ford's (F) Lincoln, which plans to formally enter China’s luxury market later this year, will unveil a new model in Beijing, the first time it has introduced a car outside of the U.S.
- New York show preview
- Tickers: F, GM, TM, HMC, CARZ, FIATY, PEUGF, BAMXF, DDAIF, HYMLF, NSANF, VLKAF, RNSDF, FIATY
Apr. 17, 2014, 2:44 PM| 1 Comment
Apr. 9, 2014, 12:44 PM
Apr. 4, 2014, 6:53 AM
- General Motors (GM) increased discounts on its Chevrolet Silverado pickups to as high as $10K through some dealerships.
- The automaker lost market share in March to Chrysler's (FIATY) Ram 1500 which ripped a 26% sales gain during the month off of aggressive discounts of its own.
- Other Chevrolet trucks and some GMC models are also showing sweeter discounts this month.
Apr. 2, 2014, 7:55 AM
Apr. 1, 2014, 8:10 AM
- Chrysler (FIATY) had a strong month in the U.S. in March with both the Fiat and Jeep brands setting records.
- Truck sales soared 34% to 147,045, while car sales were 25% lower at 46,870.
- The automaker ended the month with 71 days supply of inventory.
- Model sales tallies: Jeep Grand Cherokee +26% to 15,904; Jeep Wrangler +12% to 14,481; Dodge Charger +15% to 10,816; Dodge Caravan +27% to 14,165.
Apr. 1, 2014, 8:02 AM
Apr. 1, 2014, 7:54 AM
- Honda (HMC) was the major automaker that increased prices the most in the U.S. during March, according to data compiled by Kelley Blue Book.
- The industry as a whole increased prices by 1.4%, according to the research firm. The gain could alleviate some concern that the industry was pushing too hard on the incentives lever.
- March auto sales reports by manufacturer are due out today.
- Transaction price changes (Y/Y): Chrysler (FIATY) +3.1%, Ford (F) +1.7%, General Motors (GM) +1.8%, Hyundai (HYMLF) +2.2%, Nissan (NSANY) -3.1%, Toyota (TM) +2.3%, Volkswagen (VLKAY) +2.6%.
Mar. 31, 2014, 9:00 AM
- Chrysler (FIATY) could increase its annual production capacity to 6M-7M vehicles, CEO Sergio Marchionne tells shareholders.
- Marchionne was quick to note that it's no sure bet that Chrysler's production will reach that high. Last year, the automaker shipped 4.4M vehicles.
- The automaker plans to unveil its new industrial plan for Chrysler in May.
Mar. 26, 2014, 2:53 PM
- Auto sales in the U.S. should snap back in March, according to a new forecast from Kelley Blue Book.
- The research firm expects sales to rise to 1.475M units, up almost 24% from February.
- A modest increase in incentives from automakers will roughly offset gains in average transaction prices, according to KBB.
- March growth forecast by manufacturer: Chrysler (FIATY) +7.2%, Toyota (TM) +2.3%, Nissan (NSANY) +1.7%, Ford (F) +1.0%, General Motors (GM) +0.4%, Honda (HMC) +0.0%, Hyundai (HYMLF) -2.1%, Volkswagen (VLKAY) -7.8%.
Mar. 26, 2014, 11:19 AM
- Automobile dealerships no longer provide value for consumers, concludes a research paper by INSEAD professor Karan Girotra.
- "Car dealers and more generally intermediaries represent an extra layer of companies in the supply chain that clearly increases costs to customers," writes the prof.
- The industry has evolved such that a consumer could search and research a car online, test-drive at a product gallery, and service a purchased vehicle at a reputable repair shop without needing the backstop of a manufacturer-certified dealership, concludes Girotra.
- Related stocks: GM, F, TM, FIATY, HMC, NSANY, TSLA, VLKAY, DDAIF, HYMLF, BAMXY, KIMTF, MMTOF, PEUGF, RNSDF, TTM.
Mar. 24, 2014, 7:30 AM
- An early read on automobile sales from J.D. Power and Associates indicates sales for March are tracking at an annual selling rate of 15.6M.
- The mark is slightly below the research firm's forecast of 15.8M.
- Analysts sees March as a make-or-break month for the industry if it hopes to reach full-year expectations after weather stalled traffic during the January and February.
- Prices will also be closely watched in March with inventory levels running high. Kelley Blue Book notes the average transaction price in March is up 1.6% Y/Y to $32,100 so far.
- Related stocks: GM, F, TM, FIATY, HMC, NSANY, TSLA, VLKAY, DDAIF, HYMLF, BAMXY.
Mar. 18, 2014, 7:42 AM
- Automobile sales in Europe rose 7.6% in February, according to the European Automobile Manufacturers' Association.
- France was the only major market to show a decline in sales during the month.
- Though sales momentum was strong across brands, analysts warn that the level of discounting was high enough to cut into profits in the sector.
- Sales growth by automaker: Volkswagen (VLKAY) +8%, Peugeot (PEUGY) +3.6%, Fiat (FIATY) +5.6%, General Motors (GM) +12.6%, Renault (RNSDF) +11.7%, Daimler (DDAIF) +3.9%, Toyota (TM) +6.2%.
Mar. 17, 2014, 10:04 AM
- Chrysler (FIATY) thinks the Jeep Renegade could be the cornerstone to building out the Jeep brand globally.
- Though demand for SUV "superminis" is light in some regions, in regions such as China, India, and part of Europe the segment is hotly-contested.
- The clever design of the Renegade also gives it chance in the U.S., according to some auto industry analysts.
Mar. 13, 2014, 11:06 AM
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