Incentives Help Boost May Sales: Customer Cash Surges Up 6.5% YTD

Incentive spending increased again in May making it the fourth consecutive month that we have seen a lift in both mainstream and luxury brand spending.  According to the latest data from Autodata, May average incentive spending grew to $2,667, which was a 4.9% increase relative to last year’s figure of $2,542.  While new sales improved by a healthy 8% in May, many manufacturers substantially increased incentive spending which undoubtedly helped final results. At a brand level, Hyundai and Buick increased spending more than most other mainstream manufacturers, as average spending r ...

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Kia’s Ride to Sales Success Has Been Music to its Ears

With the recent launch of the all-new Cadenza, Kia’s most concerted foray into premium territory, it is easy to forget just how far the South Korean automaker has come since its humble beginnings in the U.S. market only a couple decades ago. Following the critically-acclaimed Optima, the Cadenza continues the brand’s upward climb into uncharted territories and will serve as a bridge to the upcoming Quoris, the company’s future flagship luxury sedan.  While it may seem unusual to associate Kia with the likes of premium German and Japanese marques, given the Koreans’ track record and rapi ...

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All New Infiniti Q50 Sedan Hits the Streets in June

Right now you might be asking yourself why Infiniti decided to change the name of the G37 to Q50, and to be honest I’m not really sure either. It’s confusing as to why a brand would take all of its established nameplates and start from scratch, but this is exactly what Infiniti is doing for its entire lineup in 2014 under the new reign of Johan de Nysschen.   The Q50 will be the first vehicle introduced under the new Infiniti nomenclature, and while every vehicle will be receiving a new name to keep things simple, just know that all sedans and coupes will be called “Q” while Crossovers a ...

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Is Volkswagen’s North American-built Passat Losing Steam?

It is no secret that Volkswagen Group is on a quest to become the largest automaker in the world by 2018, and such ambitions require strategic planning, as well as investment in the brand and product. Although Volkswagen AG has successfully established excellent brand recognition and passion for its cars around the globe, the one market that has eluded VW thus far is the United States. Nevertheless, Volkswagen of America has been called upon to do its part, but with a new North American manufacturing plant in Chattanooga, Tennessee, the U.S. subsidiary has no time to waste, and no excuses, e ...

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Mid-Month Update: Used Vehicle Prices Are Down 1.5% in May, So Far…..

After falling by 1.7% in April, used vehicle prices for units up to eight model years in age have continued to soften a bit through the first few weeks in May having declined by an average of 1.5%. In terms of month-over-month declines, the steepest losses have been recorded in the compact car and mid-size car segments, which have slipped by averages of 2.7% and 2.6%, respectively.  The compact utility, luxury utility, and mid-size utility segments all dropped as well, with losses essentially equal to  the  1.5% total market  decline.  Luxury cars and mid-size vans ...

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Incentive Spike: Average Spending Increases 4.5% in April

Average incentive spending across all brands grew for the third consecutive month on an annual basis reaching $2,536 in April.  April’s increase equates to a 4.5% lift relative to what was recorded during the same period last year, quite a bit higher than February’s 0.6% and March’s 0.9% increases.  While new sales improved as a whole in April, many manufactures substantially increased incentive spending to keep things moving in a positive direction. At a brand level on the mainstream side, Hyundai increased spending more than any other manufacturer as average spending rose by 31. ...

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The Tesla Model S Electrifies with Highest-Ever Score from Consumer Reports

It may just be that the “S” stands for spectacular. Tesla’s Model S reached new bounds by receiving a score of 99 out of 100 from Consumer Reports, which tied for the highest score ever achieved (the 2007 Lexus LS being the other to accomplish this feat). Ten years and two models is all it took before Tesla raced to the head of the pack, but with its new Model S leading the way, it appears that this is just the beginning of a very bright future for the automaker. It was only last summer when the four-door Tesla first went on sale, but the premium electric sedan has quickly garnered pra ...

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Large Pickup Truck Sales Boom: Silverado Leads the Pack Up 22% in Q1

Things are looking good in the large pickup truck world, first quarter sales are in and new deliveries increased by an average of 17.9% across all makes and models. GM led the pack in terms of growth, Chevrolet Silverado and GMC Sierra sales increased enough for a collective 20.8% lift in compared to last year. Ram full-size truck sales also increased by a substantial 18.3% while Ford F-Series sales grew by a still impressive 15.7%.  The lowest volume trucks in this segment were also the ones that experienced the smallest rate of growth during Q1. Toyota Tundra sales were up 15 ...

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Q1 Mazda6 Sales Decline by Over 38%

Earlier this year Mazda introduced an entirely redesigned version of their flagship Mazda6 to compete in the scorching hot midsize car segment.   So far things are off to a slow start for Mazda as first quarter sales were down by over 38% compared to the same period last year.  During its first three months of the year Mazda6 deliveries fell just under the 11k unit mark which is a huge decline compared to last year’s 18k sales. January and February combined sales for the Mazda6 failed to cross the 6,000 unit threshold.  Sales did pick up in March allowing the brand t ...

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The King has Fallen – or at Least Stumbled: Camry Cedes Crown to Altima

Final March sales numbers are in and Nissan is elated to report that they have narrowly edged out both Toyota and Honda for the number one midsize car sales spot. Narrowly might be a slight understatement, 115 units was all that separated the Altima’s total 37,763 sales from the Camry’s 37,648.  Honda managed to secure the number three spot selling 36,449 units of their recently redesigned Accord, just a mere 1,314 shy of the number one Altima. Another contender in the midsize car sales fight comes from Ford with their also recently redesigned Fusion. Fusion sales totaled ...

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