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Weekly Recap: The implications of strong new car sales

New car sales are on a roll in the United States this year, and analysts are optimistic the industry will maintain its torrid pace. Sales increased 1.6 percent in May and reached an eye-popping seasonally-adjusted selling rate of 17.8 million, the strongest pace since July 2005, according TrueCar research. That positions the industry for one of its strongest years ever, as consumer confidence, low interest rates, low fuel costs, and an influx of new products propel gains. In addition to the positive economic factors, May also featured warmer weather across much of the US, an extra weekend, and it came on the heels of relatively weak April sales. Analysts suggest income tax refunds and the promise of summer driving and vacations also traditionally help May sales. "While 2015 will be one of the best years in the history of the US industry, in some ways it may be the very best ever," IHS Automotive analyst Tom Libby wrote in a commentary. "Not only are new vehicle registration volumes approaching the record levels of the early 2000s, but now registrations and production capacity are much more closely aligned so the industry is much more healthy." Capacity, an indicator of the auto sector's health, is also expected to grow. Morgan Stanley predicts it will eventually hit at least 20 million units per year, as many companies, including General Motors, Ford, Tesla, and Volvo are investing in new or upgraded factories. "The best predictor of US auto sales is the growth in capacity, and frankly, we're losing count of all of the additions – there's literally something new and big every week," Morgan Stanley said in a research note. Transaction prices, another telling indicator, also continue to show strength. They rose four percent in May to $32,452 per vehicle, and incentives dropped $10 per vehicle to $2,661, TrueCar said. "New vehicle sector and segment preference indicates consumers are confident about the economy and their finances," TrueCar president John Krafcik said in a statement. Still, Morgan Stanley noted the robust sales did little to immediately impact automaker stock prices and suggested it might be a prime time to sell if sales reach the 18-million pace. "Perhaps the biggest reason may be that investors have seen this movie before," the firm wrote.

GM's Super Bowl ad puts Will Ferrell and EVs in Netflix shows

GM is kicking off the automotive Super Bowl commercial season with EVs and Will Ferrell. The ad highlights GM's new relationship with Netflix in which the automaker's many upcoming electric cars and trucks will appear. More specifically, the ad has Will Ferrell appearing in settings from major Netflix TV movies and shows such as "Army of the Dead" and "Squid Game," talking about how there's no reason not to have EVs there. And then he also appears with EVs in shows where they don't make sense, such as "Bridgerton" and "Stranger Things," but only to reassure people that Netflix won't be shoving new cars where they don't fit in. The GM lineup on display is pretty varied, with the GMC Sierra EV, Hummer EV, Chevy Blazer EV, and Cadillac Lyriq all making appearances. Most interesting is the Chevy Silverado EV Trail Boss in the "Stranger Things" part. Chevy hasn't said much about it beyond a teaser and saying it'll be a late addition to the line. It looks pretty much like the truck in the teaser with the black plastic front fascia and fender flares. But it gets different wheels, Trail Boss badges on the rear pillars, and a gloss black roof like the RST trim. Related video: 2024 Chevy Silverado EV | 2022 Chicago Auto Show

Chevy to reveal new Spark in Seoul and New York

Chevy is preparing to roll out an all-new Spark next month, giving us a taste of things to come with the teaser image above. The new Spark is set to debut simultaneously at car shows in Seoul and in New York on April 2, joining the new Malibu that will also mark its debut at the Manhattan expo. Why introduce the new Spark at the same time in South Korea and in the US, you ask? Probably because those are the two biggest markets for Chevy's smallest car, accounting for the lion's share of the 1.1 million units sold in 71 markets around the world since its introduction in 2009. Chevy hasn't revealed much about the new Spark, except to say that its styling will be more sophisticated than the "youthful whimsy" of the current model. A Spark of Sophistication Chevrolet's redesigned global minicar to debut in Seoul and New York on April 2 2015-03-09 DETROIT – The all-new 2016 Spark will debut on April 2 at the Seoul and New York auto shows, Chevrolet announced today. A sleeker, more aerodynamic profile and a progressive take on Chevrolet's signature design cues will give the redesigned Spark a more sophisticated aesthetic that reflects the changing tastes of the global minicar market. "The new Spark's design has evolved and grown up with the segment," said Michael Simcoe, GM International vice president of Design. "The youthful whimsy of the original Spark is still in its genes, but it is conveyed in more traditional proportions that reinforce the customer's refined expectations." Chevrolet has sold more than 1.1 million Sparks around the world since it went on sale as the Beat in India in late 2009. Today, the Spark is available in 71 markets worldwide, selling the most in South Korea, followed by the United States and Mexico. Spark is attracting younger and first-time car buyers to Chevrolet with 26 percent being under the age of 35. Sales of the Spark in the U.S. are up 32 percent in the first two months of 2015 versus the same period in 2014. Founded in 1911 in Detroit, Chevrolet is now one of the world's largest car brands, doing business in more than 115 countries and around 4.8 million cars and trucks a year. Chevrolet provides customers with fuel-efficient vehicles that feature engaging performance, design that makes the heart beat, passive and active safety features and easy-to-use technology, all at a value. More information on Chevrolet models can be found at www.chevrolet.com.