NADA: October SAAR Highest in 6 Months
New light-vehicle sales in October 2024 started the
fourth quarter off strong with a SAAR of 16 million units,
according to the National Auto Dealers Association.
Automakers Estimated TV Spending Rises in Q3
Automakers estimated TV spending was up 18.3% year over year for the third quarter.
More from GM Q3 Sales Down on Fleet Volume; Ford up Slightly
General Motors’ U.S. light-vehicle sales dipped 1.9% in the third quarter, with mixed results across its brands. Chevrolet saw declines in most models, but Cadillac posted its first year-over-year increase in a year, and GMC had its strongest third quarter since 2005.
Car Dealers Spent $4.5 Billion on Ads
Franchised car dealers ramped up their advertising efforts in the first half of 2024, spending 4% more than last year, according to the National Automobile Dealers Association (NADA). Dealers collectively invested $4.46 billion on ads from January through June, the highest since the first half of 2019, before the pandemic disrupted the auto industry.
Amid Struggling Car Sales, Stellantis Takes Big Hit
The company’s announcement comes as brands throughout the auto world report sales that have fallen in September and the third quarter, as consumers fret about high car prices and borrowing costs.
Ford Offers EV Buyers Free Home Charger
The automaker said it will provide a free Ford Charge Station Pro bidirectional home charger, which retails for $1,310, to buyers and lessees of the F-150 Lightning, Mustang Mach-E and E-Transit commercial van during Q4 as part of a new program called the Ford Power Promise.
Study Finds Traditional Auto Dealerships Most Effective
A new study by Oliver Wyman, commissioned by the National Automobile Dealers Association (NADA), suggests that traditional auto dealership franchises may be the most cost-effective method for selling cars, despite the rise of hybrid and direct-to-consumer models popularized by Tesla and other startups.
New Car Sales Expected to Increase 8% in August
Toyota Motor Corp. ended a two-month decline in August, while strong demand for crossovers and hybrids propelled Hyundai and Kia to record sales. The auto industry is on track for its biggest sales volume of the year, bolstered by extra selling days and Labor Day weekend promotions.
Auto Sales up in August
Reuters says new vehicle sales in the U.S. are projected to rise over 4% in August from a year ago, partly boosted by the Labor Day weekend falling within the reporting period, according to a joint report by industry consultants J.D. Power and GlobalData on Thursday.
Hyundai Names New CMO
Hyundai Motor America has promoted Sean Gilpin to chief marketing officer after the exit of Angela Zepeda, chief creative officer.
Auto Sales Still Stalled By High Interest Rates, Prices
The just-released Household Debt and Credit Report from the New York Federal Reserve reveals that the affordability crunch for new and used autos hit dealers and subprime credit customers the hardest in the second quarter.
Automakers Push Hybrids Amid Slow EV Sales and Charging Concerns
As electric vehicle sales fall short of expectations, automakers are revisiting their strategies, increasingly promoting hybrids to appeal to consumers who are hesitant to go fully electric.
Auto Inventory in Good Shape
New-vehicle inventory in the U.S. held steady in July under 3 million, though weekly data suggested it briefly crossed that threshold after more than four years, according to Cox Automotive.
July Retail Auto Sales Lower Than Expected
New light-vehicle sales in July 2024 had a SAAR of 15.8 million units, down 0.8% year-over-year. Total sales in July finished the month below expectations.
GM Still Confident Re: EVs
General Motors remains “confident” in its electric vehicle investments but needs to stay flexible with its plans to meet changing customer demand, the automaker’s retiring top manufacturing executive said.
Automotive Update. Ford Bets on Pickups, Not EVs
Buyers want more of its large trucks and the automaker needed to change course to meet demand.
Auto Dealers Could Soon See More Affordable Used Cars
“We definitely see pressure from incentives and growing discounts in the used market,” Cox Automotive’s chief economist, Jonathan Smoke, says, as per a story by Wards Auto.
Dealerships Lost $1.02b in Business After Cdk Cyberattack
Anderson Economic Group (AEG) estimated that dealerships lost 56,200 new-vehicle sales and more than $1 billion between June 19 and July 15 due to cyberattacks on CDK Global and subsequent software outages.
Delivering OTA Software Updates Via The ATSC 3.0 Wireless Net
To support broadcast TV industry efforts, the ATSC has set up Implementation Team No. 8 to accelerate collaboration between broadcasters, automotive organizations and collaborative spectrum providers.
New Nissan Marketing Chief
Scott Shirley, vice president of marketing operations for Nissan U.S., will retire at the end of the year. Jeff Pope, division vice president of dealer network development, customer resources and training for Nissan and Infiniti’s U.S. and Canada operations, will replace Shirley.