Posted: 04 Jun 2014 03:31 PM PDT

So far, 2014 has been a good year for car sales, with monthly tallies showing growth at almost all major carmakers, and predictions sunny for summer. May's car sales figures reflect a continuation of that trend, with many brands reporting their best sales month in years.

General Motors (GM) and Toyota (TM) report their best sales since 2008, while Ford Motor Company (F) claimed its best month since 2005. Audi (OTCPK:AUDVF) and Porsche (OTCPK:POAHY) had their best sales month ever in the U.S., while BMW (OTCPK:BAMXY) reported its best May results ever.

On top of the strong sales results, new car transaction prices rose 2 percent in May, according to Kelley Blue Book. Premium models are expected to drive further sales growth throughout 2014, according to JD Power and LMC Automotive. LMC Automotive's senior vice president of forecasting, Jeff Schuster, said, "Nearly one-half of the new-model activity in 2014 will be premium vehicles, which is expected to create new competition for mainstream segments as premium price points cross into those of many non-premium models."

Kelley Blue Book senior analyst Karl Brauer notes the role of premium vehicles in the market, saying, "Small and mid-size car share has declined slightly, as car shoppers opt for small and mid-size crossovers, helping boost this month's average transaction price."

Supporting this increased appetite for more expensive, more premium vehicles is a trend toward longer loan terms in the automotive financing market. Experian Automotive reports the average loan term has reached a record high of 66 months, while loans with terms of 73-84 months grew 27.6 percent in the first quarter of 2014, accounting for 24.9 percent of all new vehicles loans issued. Likewise, the average amount financed is also at an all-time high of $27,162 through the first quarter, a rise of $964 from 2013.

Here are the sales figures reported by automakers for the month of May 2014:

General Motors: Sold a total of 284,694 vehicles in May, a rise of 13 percent from May 2013. Chevrolet sold 205,010 of that total, up 14.2 percent. GMC accounted for 45,039 sales in May, a gain of 8.3 percent. Buick sold 19,957 cars, gaining 11.0 percent, and Cadillac sold 14,688 cars, rising 6.4 percent.

Ford: Ford Motor Co. says its combined Ford and Lincoln brands sold 254,084 vehicles in May, up 3.0 percent from the year-ago period. The Ford brand accounted for 245,239 of those sales, a year-on-year gain of 2.5 percent. Lincoln rose 21.1 percent against May 2013 with 8,845 vehicles sold.

Toyota/Lexus/Scion: Toyota recorded 243,236 vehicles sold across its three U.S. brands in May, a rise of 12.6 percent from last May. The Toyota division sold 216,315 vehicles, a 12.2 percent gain. Lexus division sold 26,921 cars, a 16.6 percent rise.

Chrysler: Across its four brands, Chrysler sold 194,421 vehicles in May, a 17 percent gain from last May. Chrysler's Jeep brand led the company's sales rise in May, up 58 percent to 70,203 vehicles. The Chrysler brand fell 22 percent to 22,592 vehicles sold. Dodge brand vehicles sold 57,923 examples, a 3.0 percent gain. Fiat sold 4,771 cars, up 18 percent. The Ram Truck brand sold 38,932 trucks, gaining 19 percent.

Honda/Acura: American Honda (HMC) sales rose 9.0 percent in May, to a total of 152,603 vehicles. The Honda division accounted for 137,928 of those sales, rising 9.8 percent from last May. Acura rose 2.2 percent on 14,675 vehicles delivered.

Nissan/Infiniti: Total Nissan Group (OTCPK:NSANY) sales in May rose 18.8 percent to 135,934 vehicles. Nissan Division sold 125,558 vehicles, rising 17.8 percent from May 2013, while Infiniti sold 10,376 vehicles, a 31.4 percent gain.

Hyundai: Hyundai Motor America (OTC:HYMLF) sold 70,907 vehicles in May, its best monthly result ever, and a rise of 3.7 percent from May 2013.

Kia: Kia Motors America (OTC:KIMTF) gained 14.8 percent over last May, selling 60,087 vehicles, its best result ever.

BMW/MINI: BMW/MINI combined sales for May totaled 35,331 vehicles, a 13.3 percent rise over a year ago. The BMW brand sold 29,602 vehicles, up 17.3 percent, while MINI sold 5,729 vehicles, losing 3.6 percent versus last May.

Mercedes-Benz: Mercedes-Benz USA (OTCPK:DDAIY) gained 8.1 percent across its Mercedes-Benz, Smart, and Sprinter brands, selling a total of 29,570 vehicles in May. The Mercedes-Benz Brand rose 7.7 percent, moving 26,617 vehicles.

Volkswagen: Total Volkswagen of America (OTCQX:VLKAY) sales in the U.S. reached 32,163 vehicles in May.

Mazda: Mazda USA's (OTCPK:MZDAF) best sales in 18 years saw the brand sell 29,731 vehicles in May, a gain of 22.5 percent over May 2013.

Audi: Securing its 41st consecutive monthly sales record, Audi USA sold 16,601 vehicles, an improvement of 25.5 percent over May 2013.

Mitsubishi: Mitsubishi Motors North America (OTCPK:MMTOF) documented 7,269 vehicles sold in May, a 54.2 rise from May 2013.

Volvo: Volvo Cars of North America (OTCPK:VOLVY) reported 5,014 vehicles sold in May.

Porsche: Porsche Cars North America sold 4,609 vehicles in May, a rise of 17.3 percent from May 2013.

This story originally appeared at The Car Connection

Prestige car prices to plummet if tariffs go: Car News- CarsGuide

Posted: 13 Feb 2014 04:15 PM PST

THE price tags at Nick Theodossi's North Melbourne prestige car showroom would plunge dramatically if calls for the scrapping of the 5 per cent tariff on imported cars and the luxury car tax are taken up by the government.

As Joe Hockey yesterday confirmed the government would consider dropping the imposts after the departures of Ford, Toyota and Holden left no carmaking industry to protect, car buyers were contemplating savings of more than $10,000 on a $93,000 BMW 335i sedan, and significantly higher price cuts on six-figure vehicles.

Dealers like Mr Theodossi, who have long opposed the protection given to the local car manufacturing industry, were cautiously welcoming the possibility that high-end brands such as BMW, Audi and Land Rover might soon be within reach of mainstream buyers. Mr Theodossi, 62, said he was yet to be convinced the government would follow the recommendation of leading economists and scrap the luxury car tax, but it would be a massive boost for the industry -- and consumers -- if it happened.

"I can't see the government scrapping it, but it would be fantastic if they did," he said. "Everybody could buy a Mercedes." After the Australian Automotive Association this week called for the scrapping of the tariffs on imported cars in the wake of the demise of the Australian car manufacturing industry, the Treasurer said yesterday the idea would be considered.

"The car industry is not going until 2017, but this is something that will certainly be considered by our review of taxation, which will occur in the next 18 months or so, and certainly before the next election," Mr Hockey said. The import tariff raises about $900m a year, and the luxury car tax about $400m a year.

While the removal of the 5 per cent tariff on imported passenger cars could cut several hundred dollars or more off the cost of a mid-range car such as a Mazda 3, expensive cars that attracted the tariff and the luxury car tax could fall by thousands of dollars. Mr Theodossi said he thought consumers rather than dealers would be the main winners if the tax was abolished.

His most expensive car in stock is a 2013 Bentley Continental Coupe, which although he can sell it for less, retails for $500,000 excluding GST. With fuel consumption of 9.9L/100km, it does not meet the government's fuel efficiency threshold of 7L/100km, and is taxed at a rate of 33 per cent on the portion of the price of the car above $60,316, making the luxury car tax (LCT) component of the price $145,095.

The scrapping of the LCT would therefore reduce the price of the Bentley from $500,000, to $354,904. Trade Prestige Cars dealer Stephen Curtain said he believed the case for abolishing the imported and luxury car taxes was compelling.

"If they're charging the tax to try to protect Australian car manufacturers and there are now no Australian car manufacturers, it makes no sense to keep it." Mr Curtain predominantly deals in used luxury cars, but said he expected sales of new high-end cars to increase significantly if the tax was scrapped. "No doubt if someone knocks $8000 or $10,000 off the price of a car, that will drive up sales of luxury cars."

Ateco Automotive executive chairman Neville Crichton, whose Sydney-based group owns dealerships that sell vehicles ranging from the Chinese-made Chery to Italy's Maserati, said he had no doubt that tariffs and the luxury car tax should be scrapped.

"The luxury car tax was put in place to protect the local producers with the (Holden) Statesman -- they don't make those cars any more," Mr Crichton said. "It's become a revenue situation rather than a protectionist tariff. I think the luxury tax is extremely unfair."

He said car prices would plunge if they were scrapped. "Right now, if you look at a $600,000 Ferrari, close to 30 per cent of that is going to the luxury car tax. It doesn't take Einstein to work out that suddenly that $600,000 car becomes a $400,000 car," he said.

"It'll open the market up considerably." But he said BMW and Audi would be the big winners. "The brands that would certainly benefit would be Land Rover, BMW, Audi, Mercedes, Maserati. There's still only a limited amount of people who would want to own a Ferrari or a Lamborghini. It would bring a lot of the BMW and Audi range into a normal car bracket again."

ADDITIONAL REPORTING: SID MAHER, DARREN DAVIDSON, MARK SCHLIEBS

Audi Announces Pricing for the 2015 A8, Starting at $78,325 News ...

Posted: 04 Jun 2014 01:26 PM PDT

To the delight of über-luxury fans everywhere, Audi today announced a starting price of $78,325 on the redesigned A8 series. All seven models of the A8 model line will continue, with price increases ranging from $2030 on the top-of-the-line W12 to $2830 on the A8L 4.0T. The average is slightly less than $2500, or about three percent on most models.

The 2015 car represents a mid-cycle enhancement and not an all-new model, but the styling is refreshed with a more aggressive front end: The hood is ridged, there are new standard LED headlights, and the grille and front graphics are revised. The hot-rod S8 receives its own unique front fascia with larger air intakes, and also offers an optional new sport exhaust with wide oval-shaped quad tailpipes.

The powertrain lineup remains the same: The base engine is still the 333-hp, 3.0-liter supercharged V-6 offered in both standard ($78,325) and long-wheelbase versions ($82,325). The twin-turbo 4.0-liter V-8 packs 435 ponies this year, up 15 from 2014. It's also available in short ($87,325) and long form ($91,325). The 520-hp twin-turbo S8 ($115,825) is only available as a short-wheelbase model. The 2015 lineup is rounded out by the TDI diesel ($86,025) and the 500-hp W12 flagship ($138,825), both available only in the XL body style.

Other changes for 2015 include standard electromechanical steering—variable-ratio dynamic steering is part of an optional Sport package—and an active lane assist that can steer the car back into a lane. The available night-vision system already had pedestrian detection, but now adds animal detection that can help alert the driver to deer and other animals in the roadway. Also new is a secondary collision-assist system that can apply the brakes after an initial crash. Lastly on the tech front, Audi now offers a head-up display that shows speed, navigation, and adaptive-cruise functions.

Moving to the interior, there are available 22-way power-adjustable front comfort seats with five different massage functions. The cabin itself is quieter and Audi boasts that the trunk has more usable space. The S8 receives a deliciously named Vermont Brown leather interior matched with carbon-twill copper inlays as an option. The 2015 A8 is expected to arrive in showrooms later this month.

Car Prices Blog

Thursday, 5 June 2014

May 2014 Car Sales, Prices Continue To Rise As Loan Terms ...

May 2014 <b>Car</b> Sales, <b>Prices</b> Continue To Rise As Loan Terms <b>...</b>

No comments:

Post a Comment