BMW Global Sales Gain Tops German Competitors in November
BMW Global Sales Gain Tops German Competitors in November
It's traditionally one of the slowest months of the year for vehicle sales, but most automakers reported higher U.S. sales in November compared to a year ago, despite continued consumer caution about the slow economic recovery.
After its near-miraculous emergence so quickly from bankruptcy, the new GM will certainly make big bucks for investors if it fulfills its potential to beat sales forecasts and earnings expectations.
Volkswagen (VLKAY), Europe%u2019s top carmaker, plans to invest 51.6 billion euros ($71 billion) over the next five years. The company%u2019s supervisory board approved the investments in plants, vehicles and development for the nine Volkswagen brands, Bloomberg News reported.
Amazon, Volkswagen and a group of Florida real estate companies are drastically dropping the prices of some of their key products. In the video above, Douglas McIntyre reveals which products are getting the biggest price cuts. Could these cuts be a sign that deflation is at work? McIntyre does not believe that is the case.
Based on initial reports, foreign automakers appear to have had their best sales so far this year in October despite consumer wariness about the lackluster economy. Hyundai, Kia, Subaru and Volkswagen all turned in solid performances.
Automakers on Wednesday are expected to report a mixed picture for October: mostly better than a year ago, but down slightly from September. Still, the pace appears strong enough that the upper end of full-year sales forecasts of 11.5 million to 12 million units is reachable.
VW has set a hefty goal for itself: to displace Toyota as the world's No. 1 car company. The German automaker is actually within reach, thanks mainly to its huge lead in China. To overtake Toyota, however, VW will need to really ramp up sales in the American market.
Volkswagen (VLKAY) CEO Martin Winterkorn said the company is on track to overtake Toyota Motor Corp. (TM) as the world%u2019s largest automaker. The German company beat Toyota%u2019s full-year profit goal in the first nine months.
Legal wrangling may delay Volkswagen%u2019s (VLKAY) merger with Porsche, Volkswagen CEO Martin Winterkorn said. Volkswagen planned to complete a merger with Porsche in 2011. Porsche originally planned to buy Volkswagen by securing stock options, only to see its debt levels surge.
Though vehicle sales have underperformed some analyst expectations in recent months, results are much improved compared to those of a year ago. The industry is seeing a broad trend that is benefiting nearly all automakers.
Overall demand for new cars and trucks, while better than a year ago, is likely to be lower than that recorded in August, itself an unimpressive month. That would mean auto sales are stuck in a four-month-long rut.
General Motors' share of the U.S. automobile market is expected to slip to 18% in September, the third lowest ever recorded by the Detroit automaker.
Recalling luxury cars to fix faulty hood ornaments might sound like a joke, but ultra high-end automaker Bentley Motors isn't dismissing reports that its famous "flying B" metal emblem on some models may fail to collapse in a crash: It's fixing the problem in its $200,000-plus vehicles.
U.S. auto sales started off strong over the Labor Day holiday weekend, but have since dropped significantly, according to analysis by car-buying guide Edmunds.com.
Volkswagen has tapped a veteran with deep knowledge of the U.S. domestic auto industry to head its U.S. operations. The German carmaker named Jonathan Browning, who has worked for both General Motors and Ford Motor, as CEO of Volkswagen of America.
Bayerische Motoren Werke AG aims to boost sales to more than 2 million a year by 2020 by widening the 6-series and Mini model lines as well as bringing in a battery-powered car for city driving. BMW, which sold 1.29 million cars last year, is trying to fend off competition in the luxury car segment from Volkswagen (VLKAY) and Audi, Bloomberg News reported.
As expected, automakers Wednesday reported sluggish sales for August. The nation's anemic economic recovery kept consumers away from dealerships, despite generous end-of-model-year incentives on the part of many manufacturers.
Auto sales braked sharply in August, starting out strong, then slowing to a level that may be the lowest in 28 years. The slowing economy made nervous consumers hesitant to buy, despite the bevy of end-of-model-year deals.
July was a mixed bag for auto sales, with sales improving, but not as much as the abundance of incentives for would-be car buyers led industry watchers to expect. But if August car sales continue on track, it may be the best month of 2010 so far, Edmunds.com reports.
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Among domestic makes, Ford Motor, General Motors and Chrysler Group all reported total increases in the single digits, but Japanese giants Toyota and Honda slipped. Beyond those, carmakers in Asia and Europe pretty much all had a solid month.
Analysts' expectations are that sales rose to the highest levels of the year last month, reaching an annualized rate of 11.9 million units. Eager to make room for 2011 models on dealers' lots, automakers have hiked incentives, drawing summertime bargain-hunters.
Automakers reporting June sales results Thursday painted a mixed picture for the economy, one that show signs of weakening even as they moved more cars off dealers' lots.
A trio of Ford Motor midsized sedans are among 2010 vehicles that topped the list of an insurance industry crash-testing organization's tests for safety. Hyundai, VW and Audi models also made the Insurance Institute for Highway Safety's top grade.
The carmaker's Ford Fiesta subcompact is popular in Europe and has helped push sales there into the top spot, surpassing Volkswagen. The European gains come when Ford is also revving up in the U.S. Can it keep up the speed?
Ford Motor and General Motors, the two largest U.S. auto makers, reported higher sales in January, as consumers steered cleared of the showrooms of the companies' nearest Japanese competitor, Toyota Motor, which is mired in massive recall involving millions of vehicles.
Volkswagen AG (VLKAY) is on its way to becoming the world's largest automaker. On Wednesday, the maker of the popular Beetle and Jetta models agreed...
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