Automotive Market Slows in Second Quarter
The U.S. new-car market lost some momentum in the second quarter as elevated prices and higher borrowing costs continued to weigh on consumers.
Preliminary June Auto Sales
The U.S. new-car market lost some momentum in the second quarter as affordability, elevated prices and higher borrowing costs continued to weigh on consumers.
Reliability Drives Automotive Brand Trust
Advertising is a key way for brands to create connections and build brand trust, according to 76% of those surveyed. Almost half (48%) stated TV ads as the preferred channel of engagement to communicate brand messages and build trust. Other preferred channels include social media ads (33%), brand websites, (25%) and product placements (25%).
Toyota, Honda, Hyundai, Kia Post Sales Gains in May
Of five automakers that have reported May results so far, sales grew a combined 10 percent, per Auto News.
Hyundai All in With EV Marketing
The effort comes as EV sales in the U.S. fail to live up to the hype. It’s a far cry from just a few years ago, when nearly every automaker poured billions of dollars into EV development while shelling out big marketing dollars to tout grand EV ambitions, including with Super Bowl advertising.
What Will High Vehicle Prices and Interest Rates Mean for the Auto Finance Market in 2024?
Automotive News asked five auto finance experts to share their thoughts on these challenges and what affordability constraints might mean for the months ahead.
Nissan Plan: Dealers Spend, They Save
With a nearly triple-digit days’ supply, Nissan is letting its retailers advertise vehicle prices below invoice for the first time since before the pandemic. Dealers can market nearly the entire 2024 model year lineup at up to 10 percent below invoice, Nissan said last week. The aging Armada may be advertised up to 15 percent below invoice.
Vehicle Sales Expected to Decline by 2% in April
Toyota continued its streak while Hyundai and Kia sales slip.
Nissan Gets In On The (March) Madness
The automaker is entering its fourth year as an NCAA corporate partner of March Madness for both the men’s and women’s tournaments.
Feb. New Light-Vehicle Sales Overperform
New light-vehicle sales for February 2024 exceeded expectations. February 2024’s SAAR totaled 15.8 million units, up 6.3% from February 2023 and up 6% from January 2024, which had seen a 10-month low.
Ford’s US Auto Sales Rise 10.5% in February on SUV, Hybrid Demand
Ford Motor Co reported a 10.5% rise in U.S. sales for February, helped by sustained demand for family crossover SUVs, pickup trucks and hybrid vehicles. Sales of its SUVs were up about 22% to 76,403 units.
Toyota, Honda, Hyundai Reap the Rewards
Increased incentive spending, a sharp rebound in inventory and demand for hybrids helped five of the seven automakers still reporting monthly sales to post solid gains in February, even as a few brands slipped.
Ford Slashes Price of 2023 Mustang Mach-E After Sales Plunge
Amid an industry-wide slowdown in electric vehicle demand, Ford’s EV sales fell 11 percent in January. “We are adjusting pricing for 2023 models as we continue to adapt to the market to achieve the optimal mix of sales growth and customer value,” Ford said in the statement.
Rivian and Lucid To Report Q4 Earnings as the Once-Hot Startups Face Cooling EV Demand
The two startups are burning through cash as they pivot to higher volume models. Rivian plans to launch its R2 platform for more affordable vehicles at an event on March 7, and Lucid plans to launch its Gravity crossover this year, tapping into the bigger utility market after lackluster demand for the Air.
New-Vehicle Inventory Eases to 2.55m in Jan.
Cox Automotive said vehicle inventory stood at 2.55 million in its latest estimate, a 75-day supply, down slightly from 2.7 million the previous month but still 819,000 vehicles — or 47% — higher than a year earlier.
NBCUniversal Makes Bid for Local Auto Advertising
NBC Spot On Automotive lets local auto dealers connect to opportunities to place ads in both English and Spanish across the Peacock streaming hub and various NBCU media properties. The offering is part of NBC Spot On, NBCUniversal’s advanced local OTT advertising platform, which launched in 2020.
Toyota Global EV Sales Quadruple in 2023, Still Big Gap With Goal
But the world’s biggest automaker still requires an exponential 15-fold leap over just the next two years to reach CEO Koji Sato’s proclaimed target of selling about 1.5 million EVs in 2026.
EV Sales Start To Fall In California, an Industry Bellwether
Following a long, seemingly inexorable climb, registrations of battery-electric vehicles in California fell in the fourth quarter of last year. EV sales have now fallen for two consecutive quarters in the state, even as California regulators set a 2035 deadline for all new auto registrations to consist of zero-emission vehicles.
Chevy Leads Latest Ranking of Most-Seen Auto TV Ads
The NFL was a primary impressions delivery vehicle for all five ads on iSpot.tv’s chart. With 277.8 million national TV ad impressions, a commercial for the Chevrolet Silverado takes first place on iSpot.tv’s ranking of the most-seen auto TV ads for Jan. 15-21. A remarkable 98.6% of those impressions came from airings during NFL games and related coverage.
VW, BMW and Kia To Run Super Bowl Spots
The Super Bowl will see the return of BMW and Volkswagen as advertisers after hiatuses while Kia, a marketing mainstay during the Big Game, will be back for the third straight year.