A total of 489,429 vehicles were produced across Turkish automotive industry production lines in the first four months of this year, the Automotive Manufacturers Association (OSD) reported on May 11. The nation’s auto production- consisting of automobiles, commercial vehicles, and tractors- dropped 13% year-on-year in the January-April period. The association stated automobile production in Turkey also declined 14% to […]
car sales in 2019
Investments, legal fines put brakes on BMW
BMW’s first-quarter operating profit dropped 78 percent to 589 million euros, regardless of higher deliveries of luxury vehicles, as the automaker felt the effects of higher investment spending and a 1.4 billion euro ($1.6 bln) legal provision. The European Commission earlier month informed German automakers they face hefty fines for alleged collusion in the area […]
Auto Sales Predictions and Trends in the US for 2019
The used vehicle market is flourishing in the US. With the new car prices hitting another historic high, the used segment becomes increasingly appealing for buyers all over the US. There are a lot of changes we should expect to see in the US auto market in the following 12 months, mostly driven by the […]
AvtoVaz Makes First Profit in A Decade
Russia’s largest automaker AvtoVaz posted net profit of 5.86 billion rubles ($90.5 million) in last year — the company’s first profit in a decade. The results for 2018 follow on from losses of 9.66 billion rubles under international financial reporting standards (IFRS) in 2017, the company reported on April 30. While some automakers in Russia […]
Volkswagen brushes 1 billion euro legal hit aside with higher SUV sales
Sales of higher-margin sports utility vehicles and cost cuts assisted Volkswagen to brush a 1 billion euro legal charge aside to meet first-quarter operating profit forecasts on Thursday, sending its shares 4.7 percent higher. Revenues prior interest and taxes (EBIT) dropped to 3.9 billion euros ($4.4 billion) from 4.2 billion a year ago but were […]
Toyota, Fiat Chrysler U.S. sales dropped in April
Toyota Motor on Wednesday reported a 4.4 percent drop in U.S. sales in April, due to slack demand for its sedans, consisting of Corolla and Prius. The Japanese automaker stated it sold 162,506 vehicles in April, compared with 170,706 units a year ago. Major automakers reported a weak U.S. new vehicle sales in the first […]
Ford more confident of better results in 2019
Ford Motor on Thursday posted a better-than-expected first quarter mainly because of strong pickup truck sales in its major U.S. market and stated it was more confident in its forecast 2019 would bring improved results than 2018. The first-quarter results sent boost in Ford’s shares about as much as 8 percent in after-market trading. CFO […]
Hyundai bets on U.S., South Korea sales as profit beats consensus
Hyundai Motor revealed a promising outlook for sales in South Korea and in the United States, and also reported its first increase in profit in five quarters, in an early indication of recovery even as it battles a decline in China. This comes as Hyundai’s heir apparent Euisun Chung reshuffles top management to restore stalled […]
Mercedes sells over 600 Maybach models a month in China, says Daimler
Daimler’s China chief stated sales increased 3 percent in the first quarter, defying a total downturn in demand in the biggest car market of the world. There has been a robust demand for ultra-luxury vehicles such as the Mercedes S-Class Maybach. “The Maybach it is still going excellent. Demand is over 600 a month,” Daimler’s […]
Car sales dropped 13 percent in first quarter in Indonesia
Domestic car sales of Indonesia reduced by 13 percent in the first quarter of 2019 from the same period in 2018, according to the Association of Indonesian Automotive Manufacturers (Gaikindo). Sales from January to March was recorded at 253,863 units, a major reduction from 2018’s figure of 292,031 units. March sales reduced 11.4 percent year-on-year […]
Volkswagen expects core brand’s worldwide 2019 sales to be same as last year
Volkswagen expects worldwide sales of its core brand this year to be matched with the 6.24 million mark that it gained in 2018 even though China sales dropped in the first quarter, the company stated on Monday. “We expect sales in the Chinese market to be on the same level as last year. Worldwide we […]
Used car sales grow times more than new ones in India
Apparently, new car market and used vehicles are now a better value proposition after regular price hikes taken by vehicle companies. While new passenger vehicle sales are not so quick from moving from first gear, clocking only 2.7% increase in financial year 2019, used vehicles are grooming away with four-times that of new car sales, […]
Tesla stock down after reporting biggest sales drop in its history
Tesla on Wednesday reported a huge drop in auto sales for last quarter, though the company stated it’s confident it will still reach its yearly sales goal. About 63,000 vehicles were delivered to clients in the first three months of 2019 — a 31% decline compared to the prior quarter. The total sales figures consisted […]
Tesla sales lifts Norway’s electric car sales
Nearly 60 percent of all new cars sold in Norway in March were wholly electric, the Norwegian Road Federation (NRF) stated on Monday, a global record as the country looks forward to end fossil-fueled vehicles sales by 2025. Exempting battery engines from taxes enforced on diesel and petrol cars has upended the country’s auto market, […]
U.S. March and quarter one auto sales drop in weak start to this year
Significant automakers on Tuesday reported weak U.S. sales for March and the first quarter, mentioning a rough start to the year, but stated a robust economy and strong labor market should support consumers to purchase more vehicles as 2019 rolls on. Passenger-car sales had a hard time throughout the January-March quarter compared with the same […]
