DETROIT (Reuters) – U.S. August auto sales were unexpectedly strong, led by Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz), Chrysler Group and Nissan Motor Co (7201.T: Quote, Profile, Research, Stock Buzz), which easily beat analysts’ estimates as the industry is seen reaching volumes not seen since before the recession.
Ford sales were up 0.4 percent, while Chrysler, a unit of Fiat SpA (FIA.MI: Quote, Profile, Research, Stock Buzz), showed a 20 percent gain, the automakers reported on Wednesday. Nissan was up 11.5 percent. Analysts looked for gains of 11.8 percent for Chrysler and 2.8 percent for Nissan, and a decline of 1.9 percent for Ford.
DETROIT (Reuters) – The U.S. auto industry will have to offer more discounts to maintain demand as prices for used cars decline.
With auto sales recovering from their recession-era slump, the industry’s supply of used cars has started to rise again, driving down prices.
Edmunds:road trips influence purchases. 80% of buyers had road trips in mind when picking car to buy, aka “where the %& R the cup holders!”
Edmunds poll:up to 75% of Americans plan road trip by Labor Day. I’ll pack the chips…
DETROIT (Reuters) – Delphi Automotive Plc (DLPH.N: Quote, Profile, Research, Stock Buzz) reported stronger-than-expected second-quarter profit on Thursday, but offered a forecast for the third quarter that could fall short of analysts’ expectations, and shares fell 0.4 percent in morning trading.
The auto supplier said it would restructure in South America, where revenue slumped 24 percent in the second quarter.
DETROIT (Reuters) – An influential consumer magazine on Monday called on Toyota Motor Corp to recall about 177,500 older Camry hybrid sedans to address potential power brake defects.
Consumer Reports, which many consumers use when studying what vehicles to buy, said the Japanese automaker’s decision to call for a service campaign or a warranty extension on two different problems covering cars from model years 2007 to 2011 does not go far enough. Under a service campaign, an automaker repairs cars as they are brought back to dealers by consumers.