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The economy remains wobbly, unemployment is still high and yet people are buying new cars at a pace that would suggest a sweeping wave of prosperity. Even auto industry analysts concede that it's counterintuitive … until you take a closer look at what's being traded in for new wheels. [snip] David Rodgers, senior vice president and general manager of the Sullivan Automotive Group, which oversees John L. Sullivan Chevrolet and Roseville Toyota in the Roseville Automall, said that, more than car age, he's been struck by the high mileage he's seeing on trade-ins. "The average (age) is running about three...

DETROIT (AP) -- Car buyers were out in force in October, snapping up trucks and SUVs and taking advantage of deals on Japanese cars. U.S. car and truck sales were expected to top 1 million in October, a surprising number for a month when sales are usually slow. When adjusted for seasonal factors, that would be the best pace since the Cash for Clunkers program in August 2009. Pent-up demand drove October sales. Japanese inventories are finally reaching normal levels after the March earthquake and tsunami in Japan. Many buyers who spent the summer waiting for Japanese cars could finally.......

Sorry, But Housing And Car Sales Just Do Not Show A Coming Recession New Deal democrat, The Bonddad Blog Oct. 6, 2011, 1:45 PM ECRI's recession call has justifiably gotten much coverage. On the other hand, many have noted the lack of transparency of their method, making reliance on them a matter of trust rather than testing. An alternative to their approach is based on the research of UCLA Anderson School Prof. Edward Leamer. Prof. Leamer made an excellent presentation (pdf) about the progression of business cycles at Jackson Hole in 2007. It is research I have relied on many...

SAN FRANCISCO (MarketWatch) — General Motors Co., Ford Motor Co. and Chrysler Group LLC managed to shrug off an ornery Mother Nature, some wild stock-market fluctuations and a stubborn economy to report Thursday double-digit percentage gains in U.S. sales for August. That wasn’t the case for the leading Japanese manufacturers. Toyota Motor Corp. /quotes/zigman/199376/quotes/nls/tm TM -0.95% fell behind Chrysler by just a few hundred cars and Honda Motor Co. /quotes/zigman/193599/quotes/nls/hmc HMC +0.96% saw its sales slip by more than 20% for the fourth consecutive month. GM /quotes/zigman/1466682/quotes/nls/gm GM -4.22% said it sold 218,479 cars and trucks in August, an 18%...

"Baseball, hot dogs, apple pie, Mao Zedong and Chevrolet." That could be GM's new slogan if recent comments by CEO Dan Akerson are taken to heart. Akerson shared a somewhat bizarre vision for GM in an interview with the Detroit News when he stated, "Whoever comes after me; it's going to be a more important appointment than mine because he or she will have to carry on a cultural revolution here. It's just like the Communist Party in China in the 1960s, there has to be a cultural revolution here." These comments come just weeks after the Washington Times...

The automotive-information Web site Edmunds.com said it expects seasonally adjusted sales in September will be the worst of 2009, down 3 percent vs. February — "the darkest month of the recession" — and down 30 percent vs. last September "when the bottom was falling out of the economy." Dropping with the sales are the profits of dealers, who this month have had to goose incentives even as they carry hundreds of millions in debt as they wait for the government to make good on its Clunker vouchers. "The best month of the year for car sales is being quickly followed...

Clay, New York (WSYR-TV) Fewer used cars on the lot are driving up the price for those in the market looking for another car. "Part of the problem why the price is going up because the availability of the cars is a little bit lower," says Tom Loving of Summit Chevrolet. The higher prices are making car shopping a little more difficult for Kara Hooker, who was searching for a used car Friday night at the Great Northern Mall. "I missed out on the Cash for Clunkers deal because my car is a Volkswagen and you don't get anything for...

General Motors Co.'s top executive described July auto sales as weak compared with the same month last year, but said it's still early.

In the process of searching for a used car for my children to use to go to school and get to work (summer jobs), I have made a couple of significant discoveries. Many used cars are selling for way below book value because there is no book value due to the incentives for buying new cars and economic conditions. Few banks will give loans on a used car at this time. Many, many used cars are for sale and remain for sale for quite some time. Cars that should have elevated used values are selling for well below "usual" values....

Ford Motor Co. said Tuesday its U.S. sales fell 24 percent in May from a year ago, but sales rose 20 percent from April as the automaker continues to gain market share from its competitors now under bankruptcy protection. Dearborn-based Ford said it sold 161,197 cars and light trucks in the U.S. last month, the highest figure since July 2008. Sales of the Ford Fusion rose 9.4 percent as the company began selling new 2010 models of the midsize sedan along with a hybrid version. Ford said it sold a record number Fusions, 19,786 in May, which was surpassed only...

Some high-risk borrowers now get car loans with a digital leash attached: if they don't pay up, they can't drive. High-risk borrowers now get car loans come with a digital leash attached: if they don't pay up, they can't drive. (ABC News Photo Illustration) More PhotosElliot Munoz loves driving his Jeep Liberty around his hometown outside St. Louis, Mo. He particularly likes the four-wheel drive for the snow in his hilly town. But when a red light on his dashboard starts flashing, Munoz knows he needs to get out his checkbook or else he won't be able to start the...

Chrysler said April sales were down 48 percent compared to April 2008 moments ago, only hours after the troubled automaker opened its bankruptcy hearing. Car sales were down a staggering 61 percent, while sales of SUVs and trucks were down 44 percent. Chrysler sold 43,138 vehicles in April. In its bankruptcy filing, the automaker said it has an inventory of 336,913 vehicles, a 114-day supply. Chrysler idled its plants today for the duration of the reorganization. Chrysler hopes to emerge from government-backed bankruptcy in 30 to 60 days, a target many bankruptcy specialists believe is unrealistic. -- General Motors, which...

Was there anything good about the quarter? Since we're grasping at straws, lets note that February's sales were better than January and March's was better than February's. But, that's happened every year since 1991. Aside from that, the quarter was awful. Sales declined 38.4%, and that followed a 8% dip in the first quarter of 2008. The Detroit 3's domestic sales fell an astounding 46.2%. Import brand sales were down 30.6%--not as bad as Detroit's but not good. GM was the sickest of the sick in the first quarter, down 48.8%. Toyota led the Japanese in futility with a loss...

Sales of secondhand vehicles in Japan declined 7.3 percent in February from a year earlier to 346,610 units, a 22-year low for the reporting month, an industry group said Wednesday. "Since new car sales are slumping, that depleted the supply of used vehicles," an official with the Japan Automobile Dealers Association said. At this rate, sales for the 2008 business year ending this month look certain to fall for the third consecutive year, industry analysts say.

February was another dismal moth for carmakers as every major producer saw sales drop from 35% to 53%. The sales rate of 8.9 million cars sold was the worst February performance in 40 years as a dismal economy warded nervous consumers away from showrooms. Car sales fell 41% for the month; General Motors (GM) was the biggest loser, with sales falling 53%. Ford Motor (F) also took a big fall, as sales dropped 48%. Toyota 's (TM) U.S. sales fell 40% and the company has asked the Japanese government for $2 billion to help its finance arm write car loans....

DETROIT – Major automakers' U.S. sales continued their deep slump in February, putting the industry on track for its worst sales month in more than 27 years as huge rebates and low-interest financing failed to spur fearful consumers to make a major purchase. General Motors' sales tumbled 53 percent from a year earlier, while Ford's U.S. sales fell 48 percent. Toyota's sales fell 40 percent, and the other major Japanese automakers were only slightly better. The slide casts further doubt on the financial viability of GM and Chrysler, which planned to report its sales later Tuesday. They need to sell...

Legislation solidifying the right of car dealers to repossess a just-sold vehicle if the buyer's financing falls through has hit a snag in the General Assembly. The Senate Transportation Committee unanimously endorsed the bill Thursday, but added a clause requiring the assembly to pass the bill again next year before it takes effect.

As auto sales nationwide continue to dwindle, a Wisconsin auto dealer has offered a solution to boost demand and revive the flailing U.S. auto industry: $5,000 government discounts. John Bergstrom, CEO of Bergstrom Automotive based in Neenah, Wis., wrote a letter to President Barack Obama late last week suggesting that everyone who purchased a new vehicle in America, no matter where it was built, be given a government voucher for $5,000 during a 90-day period from Feb. 15 to May 15. The manufacturer would match that with another $5,000 voucher, meaning buyers would get a $10,000 discount under Bergstrom's proposal."If...

Two years ago, China zoomed past Japan to become the world's No. 2 vehicle market. "This is the first time in history that China has passed the United States in monthly sales," Mike DiGiovanni, General Motors Corp.'s executive director of global market and industry analysis, said in a conference call late Tuesday. DiGiovanni projects that Chinese auto sales could hit 10.7 million vehicles in 2009, more than his estimate of 9.8 million unit sales in the U.S. this year. Autodata Corp. forecasts 2009 U.S. sales at 9.57 million. For more, check the source.

NEW YORK (CNNMoney.com) -- After nearly a year of flagging sales, low gas prices and fat incentives are reigniting America's taste for big vehicles. Trucks and SUVs will outsell cars in December, according to researchers at the automotive Website Edmunds.com, something that hasn't happened since February.

Is history repeating itself in the automobile industry? The latest data on vehicle sales suggest that it might be. Auto sales hit the skids in September, sinking to their lowest level in more than 15 years, as the faltering economy and credit crunch combined to squeeze the business. But amid the carnage, sales of large pickup trucks and sport utility vehicles held their own, according to Edmunds.com. Yes, you read that correctly: trucks and SUVs, the very same gas-swigging monsters that Americans have stampeded away from this year as gasoline prices rose to record levels. Surprisingly, as the rest of...

Reports on automobile sales were almost uniformly weak across Districts. Sales were especially poor for large vehicles such as trucks, SUVs, and some minivans. Indeed, auto dealers in the San Francisco District were increasingly reluctant to accept trade-ins of trucks and SUVs due to a lack of a wholesale market for these vehicles...

NEW YORK (CNNMoney.com) -- U.S. auto sales tumbled in May as buyers fled from pickups and sport utility vehicles in the face of average gas prices that are now just shy of $4 a gallon. The trouble hit not only U.S. automakers General Motors (GM, Fortune 500), Ford Motor and Chrysler LLC -- which have long depended on sales of pickups and SUVs -- but also trimmed the sales of their top Japanese rival Toyota Motor (TM). But other Asian automakers held up reasonably well. Nissan (NSANY) reported a narrow sales gain while Honda Motor (HMC) and Kia rode American...

Honda Civic, Accord, Toyota Camry and Corolla all outsell Ford F-150 for the first time The two brands who lost and gained the most sales last month (MINI and HUMMER) sum up nicely what happened to auto sales during May in the U.S. Brands armed with small cars weathered the storm and big trucks and SUVs continued to nose dive. In fact, after 17 years worth of being this country's best-selling vehicle, the Ford F-150 full-size pickup (42,973) has fallen for the first time to fifth place behind the Honda Accord (43,728), Toyota Camry (51,291), Corolla (52,826) and your new...

The economy stinks, the housing market is in the dumps, and auto sales are way down. Looks like a great time to go car shopping. With talk of a recession, consumers are tightening their purse strings, so carmakers and dealers are doing whatever they can to keep the metal moving. "I think it's one of the best times in recent history, certainly," says Jack Nerad, managing editor of Kelly Blue Book. Vehicle purchase incentives - including cash rebates, low interest financing and behind-the-scenes dealer cash -are at near-record levels, says Jesse Toprak, an analyst with automotive Web site Edmunds.com. And...

DETROIT (Reuters) - U.S. auto sales tumbled in February in the face of a slumping economy and high gas prices with double-digit declines by all three struggling Detroit-based automakers. Sales at General Motors Corp(GM.N: Quote, Profile, Research), Ford Motor Co (F.N: Quote, Profile, Research) and Chrysler LLC CBS.UL fell 16 percent, 10 percent and 17 percent, respectively. GM and Ford responded with cuts to second-quarter production plans, while Chrysler rolled out a new program of sales incentives. "February was a very disappointing month for industry sales," GM Vice Chairman Bob Lutz told Reuters at the Geneva auto show. "We still...

Ford Motor Co. posted a 9% drop in U.S. sales of cars and light trucks for December, closing out a weak year for the company and the auto industry. The auto maker said so-called fleet sales fell 1%, while retail sales fell 13%. Improving retail sales is central to Ford's restructuring plan as the company cuts sales to rental car companies and other mass buyers to focus on higher-margin sales to dealerships. Ford, which has slipped to the No. 3 U.S. auto maker by sales, behind Japan's Toyota Motor Corp., said it sold 210,855 light vehicles in December, compared with...

Surprisingly Strong SUV Sales Despite high gas prices and calls for greater energy efficiency, many Americans are still buying large, luxury SUVs and pickups by Jim Henry Thought sales of big, expensive SUVs and pickups were on life support? It would seem that reports of their death have been greatly exaggerated as sales for some of the largest, thirstiest luxury models, including the Cadillac Escalade ESV, Mercedes-Benz GL, and Toyota Tundra have shown a surprising resurgence. "There are buyers for whom, that's the vehicle they still want, for what their needs are, and gas prices won't deter everyone," says Stephanie...

NEW YORK (CNNMoney.com) -- Ford CEO Alan Mulally became the latest high-profile business executive to suggest that the Federal Reserve needs to cut interest rates, according to a report published Friday. Noting that credit conditions were posing a "big headwind" to the company's turnaround plan, Mulally told the Financial Times he is concerned about the state of the larger economy. Next victim of mortgage mess: Auto sales Video More video Fortune's Sue Callaway reviews and compares the Audi S4 and the BMW M5. Play video "It is a really important job to manage inflation and economic growth [but] focusing on...

NEW YORK (CNNMoney.com) -- Already-battered U.S. auto sales could be the next victim of the problems with mortgages, declining home and stock prices as potential car buyers delay purchases due to uncertainty. Industrywide U.S. auto sales in August could be off 10 percent from a year ago, according to an early read from sales tracker Edmunds.com. That follows July sales that were 19 percent below year-earlier levels. Video More video Justin Urquhart Stewart of Seven Investment Management joins CNN to talk about mortgages and the markets. Play video Video More video CNN's Gerri Willis offers tips for weathering the mortgage...

NEW YORK (CNNMoney.com) -- The Toyota Prius remained America's most popular gasoline/electric vehicle even as sales of hybrids rose 35 percent in the first quarter of 2007 compared to last year, according to a new report from J.D. Power and Associates. Sales of diesel-powered vehicles, already a larger portion of the market than hybrids, are expected to grow even faster. A total of 187,000 hybrid vehicles were sold in the United States in the first six months of 2007, according to J.D. Power. Sales of hybrid vehicles are expected to decline slightly in the second half of the year but,...

More cars than light trucks were sold in the United States last month, reports from the automobile companies showed Friday, as gasoline prices nationwide soared to more than $3 a gallon. Toyota, Nissan, General Motors and the Chrysler Group all said their sales rose in May compared with 2006, primarily because of stronger car sales. Toyota, which has benefited most among the major companies from the rise in gas prices, said its May sales set a monthly record, up 9.7 percent from a year ago. The Ford Motor Company was the only major player to be left out: its sales...

DETROIT (Reuters) - U.S. auto sales have been slipping as domestic automakers have struggled to boost sales amid high gas prices this year -- a trend that will continue into next year, industry executives and analysts said. Industry-wide sales are down more than 4 percent this year as U.S. automakers such as General Motors Corp. (NYSE:GM - news) and Ford Motor Co. (NYSE:F - news) struggle with high labor costs, loss of market share to foreign rivals, and weakening sales of trucks and sport utility vehicles - typically their largest profit generators.Both GM and Ford are trying to stem billions...

The boycott of Ford Motor Company continues to be effective. Sales in August dropped 11.6%. This follows drops of 5% in March, 7% in April, 2% in May, 6.8% in June and 4.1% in July. Ford is taking several actions to halt falling sales, but none of them include ending financial support for homosexual groups promoting same-sex marriage. Ford lost $1.4 billion in the first half of the year. Rather than save money by cutting financial support to homosexual groups, Ford plans to cut production by 21%, trim the number of dealers, reportedly is seeking a merger or alliance with...

DETROIT - Amid steep gas prices, Toyota Motor Corp. rode its reputation for fuel-efficient cars to a double-digit sales increase in July and outsold Ford in the U.S. for the first month ever. Honda Motor Co. also reported robust sales. " At Ford, sales of Ford, Lincoln and Mercury vehicles fell 35.2 percent. Truck sales tumbled 44.8 percent, while cars slipped 6.7 percent. Sales of F-Series pickup trucks, long the country's best-selling vehicle and the company's most important vehicle, shot down 45.6 percent." " Toyota's sales, meanwhile, soared 11.7 percent, with cars jumping 19.8 percent and trucks up 1.3 percent....

What if I said you could save $1000-$2500 the next time you buy a car? What if I told you that you didn't have to haggle with a lot lizard in the process? In fact, you could use the Internet to shop around for a new car instead of driving from dealership to dealership, and then buy at your leisure. Well, you can't. Know why? What stands between you and these benefits is your state government. According to a panel recently hosted by the Mercatus Center in Arlington, Virginia, the primary reason for these regulations is collusion between "licensed" car...

DETROIT—Americans shied away from large sport utility vehicles and pickup trucks in April as gasoline prices approached $3 a gallon. With a battery of new SUVs waiting in the wings, domestic automakers are now facing the very scenario they had hoped to avoid. Despite gains at Toyota Motor and Honda Motor, declines at General Motors, Ford Motor, DaimlerChrysler and Nissan Motor pushed vehicle sales in the United States down 0.1 percent in April, according to Ward's AutoInfoBank. General Motors saw the biggest drop, selling 7.3 percent fewer vehicles than it did in April 2005. For the first time, Toyota became...

DETROIT (Reuters) - U.S. auto sales fell in April as high gas prices hurt sales of most sport utility vehicles and trucks, leading to a further erosion of market share for U.S. automakers against their Asian rivals. ADVERTISEMENT The slower sales for the traditional Big Three immediately sparked a fresh round of consumer incentives including interest-free loans on Tuesday. Toyota Motor Corp. (7203.T) posted an almost 9 percent gain and Honda Motor Co. (7267.T) notched a 6.5 percent rise in stronger-than-expected sales, while General Motors (NYSE:GM - news) saw sales drop 7 percent and Ford (NYSE:F - news) lost 3...

oyota Sales Rise 7 Percent in March; Ford Sales Fall 5 Percent, General Motors Sales Tumble DETROIT (AP) -- The U.S. auto industry's slump hit GM hard in March, when the struggling automaker's sales fell almost 15 percent while rival Toyota reported its highest ever monthly sales yet. The sales report Monday was more bad news for General Motors Corp., which lost $10.6 billion in 2005 and has been giving up U.S. market share to Asian competitors, leaving Toyota Motor Corp. nipping at its heels in the race for who can claim the title of world's largest automaker. GM car...

New car sales in Europe fell last year, despite a price war and a strong showing from Japanese car makers. According to the European Car Industry Association (ACEA), the number of new cars sold fell 0.7% to 15,222,939. Sales held steady in Western Europe with a decline of just 0.2%, but an influx of used cars in Eastern Europe meant sales there slumped by 10%. Germany, Europe's largest market, grew by 1.6% with 3.3 million registrations. British sales fell 5% to 2.4 million. Japanese car makers continued to eat away at the market share of European rivals. Sales increased by...

By DAVID RUNK, Associated Press Writer2 hours, 17 minutes ago Jeannine Anderson's Honda Accord served her well for 13 years before she decided to give it to her son-in-law. But when the self-described Honda fan was hunting a new car, she decided to consider the Toyota Camry, a car her late husband had wanted and one whose stellar reputation she knew from reading Consumer Reports. After test drives with the Accord and the Camry, Anderson, 71, got her first Toyota — a gray V-6 she says gets 36 miles per gallon. "I just absolutely love it," Anderson, of Bancroft, said...

Foreign automakers, led by Japanese powerhouse Toyota Motor Corp., piled up record U.S. sales last year as American companies continued their long slide, according to figures released Wednesday. Toyota, which is expected to overtake General Motors Corp. as the world's largest automaker by next year, saw its U.S. sales climb 9.7% in 2005, marking the automaker's 10th consecutive year of record U.S. sales. Toyota's Camry was the best-selling car in the U.S., while its Lexus line was the most popular luxury brand for the sixth straight year. "If I'm one of the guys running Ford or GM … I'm deeply...

SHANGHAI, China - General Motors Corp. became China's top-selling foreign automaker last year, surpassing Germany's Volkswagen AG, after seeing its sales grow 35.2 percent to 665,390 vehicles, according to company figures released Thursday. South Korea's Hyundai and Japan's Honda also reported strong growth, while Volkswagen, the former market leader, saw its sales decline in 2005. GM, which is looking to growth in China to make up for its shrinking market share in the U.S., said sales were driven by the continuing popularity of its Buick brand, led by the Excelle sedan and hatchback. It sold 105,000 of those two models...

Chevy beats Ford in 2005 DETROIT -- Chevrolet beat the Ford Division in U.S. sales by 17,084 units in 2005, dislodging Ford from the top of the sales chart for the first time since 1986. On Dec. 1, Chevy led Ford by 9,318 units. In 2004, Ford beat Chevrolet by 18,801 units. Sales at both automakers fell in 2005. Chevrolet outsold Ford in cars. Chevy sold 899,116 cars in 2005, compared with 742,423 cars sold by Ford. That was a difference of 156,693 units. But Ford, while it sold more trucks than Chevrolet in 2005, saw a bigger drop in...

Detroit's traditional Big Three U.S. automakers are expected to post another slide in U.S. vehicle sales in December despite aggressive incentives... Archrival Toyota...will post another gain when automakers report sales results next Wednesday... GM in mid-November rolled out a new year-end incentive program, called "Red Tag" sale, which allows anyone in the United States to buy vehicles at the same price employees of GM's auto parts suppliers pay. Ford soon followed with its own rebates. Deutsche Bank analyst Rod Lache said the response to GM's Red-Tag sale has been lukewarm. "Customers are unsure of what supplier pricing is, but they...

On Dec. 20, the Toyota CEO announced that the Japanese auto giant will bump up production by 10% in 2006, to more than 9 million vehicles -- increasing the likelihood that Toyota (TM ) will surpass General Motors (GM ) as the world's largest auto maker in the next 12 months. The bullish projections come on the heels of a remarkable 2005 for Toyota. It's on track this year to report an 8% increase in sales at a time when GM and Ford (F ) have been going the other way. But while Toyota's ascent may seem a given, a...

Big three automakers post sales drop Reuters DETROIT - Detroit's Big Three automakers all posted a slide in U.S. vehicle sales in November, losing further market share to major Japanese rivals. General Motors Corp., the world's largest automaker, on Thursday posted an 11-percent drop in November U.S. sales, its fourth consecutive monthly decline. Ford Motor Co. said sales fell for the third straight month, down 18 percent. "I think Ford saw catastrophic declines in big SUVs due to a general retreat from that sector because of gasoline prices," Burnham Securities analyst David Healy said. Both automakers launched new incentive plans...

DETROIT (Reuters) - Detroit's Big Three automakers said on Thursday that U.S. sales slid in November as demand for sport utility vehicles declined further, while sales at two Japanese rivals edged higher. General Motors Corp., the world's largest automaker, posted an 11-percent decline in November U.S. sales while Ford Motor Co. said sales fell 18 percent. "I think Ford saw catastrophic declines in big SUVs due to a general retreat from that sector because of gasoline prices," Burnham Securities analyst David Healy said. GM and Ford both cut fourth quarter production forecasts, but GM said it would raise its first...

The Big Three US carmakers, General Motors, Ford Motor and DaimlerChrysler, announced huge falls in domestic sales in October after a year of giving heavy subsidies to keep buyers in showrooms. While Japanese rivals nearly all produced sales rises in the US market, General Motors posted a 23 percent decline from a year ago to 257,623 vehicles. Ford said its October sales were down 26 percent to 199,847. DaimlerChrysler sales were not as bad, but still fell three percent to 183,163 cars and trucks. "Although a slowdown after the record sales of the last several months was expected, October was...

October 1, 2005 Auto dealers ditch SUVs for fuel-efficient vehicles Knight Ridder News GLAN FALLS, N.Y. - After charging through Hudson Falls last week with the machismo of a movie star cruising Hollywood Boulevard, auto shop owner Jeff Boyer jumped down from behind the wheel of his hulking 2003 Hummer H2. "The Hummer may be the 'ride' that really turns heads, but the real story is the gas," he said, waving his arms in the air. "It sucks up the gasoline, so now I only drive it for occasional joy rides." With post-Katrina gas prices ranging from $2.80 to $3.89...