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Auto blog

Auto sales in March and first quarter down nearly across the board

Nearly every major automaker reported weak U.S. sales for March and the first quarter of 2019, citing a rough start to the year, but said a robust economy and strong labor market should encourage consumers to buy more vehicles as 2019 rolls on. GM, which no longer releases monthly sales figures, saw first-quarter sales fall 7 percent, with declines across all brands. Sales of Silverado pickup trucks fell nearly 16 percent and the high-margin Chevy Suburban large SUV dropped 25 percent. Ford also no longer releases monthly sales numbers, but is due to release its first-quarter sales figures on Thursday. According to industry data, Ford's sales fell 2 percent in the quarter and 5 percent in March. Ford representatives did not immediately respond to requests for comment. FCA reported a 7 percent fall in U.S. sales in March and a 3 percent drop for the first quarter. All of FCA's brands dropped in March, except for Ram, which saw a 15 percent increase in pickup truck sales. "The industry had a tough first quarter, but with spring finally starting to show its face and continued strong economic indicators ... we are confident that new vehicle sales demand will strengthen going forward," FCA's U.S. head of sales, Reid Bigland, said in a statement. Toyota reported a 3.5 percent fall in U.S. sales in March and 5 percent for the first quarter, hurt by declining demand for its Corolla sedans and Camry vehicles. "While some of our competitors are abandoning sedans, we remain optimistic about the future of the segment," Toyota said in a statement. Nissan posted a 5.3 percent drop in sales in March, and its first-quarter sales were down 11.6 percent. Honda and Hyundai bucked the trend. Honda's U.S. sales rose 4.3 percent in March and 2 percent in the quarter, while Hyundai's were up 1.7 percent and 2.1 percent, respectively. Passenger-car sales suffered throughout the January-March quarter compared with the same period in 2018 as Americans continued to abandon them in favor of larger, more comfortable pickup trucks and SUVs, which are far more profitable for automakers. The battle for market share in the particularly lucrative large-pickup truck market intensified in the quarter, as Fiat Chrysler Automobiles' Ram brand outsold the U.S.' No. 1 automaker General Motors' Chevrolet-brand trucks. The two automakers have both launched redesigned pickup trucks.

Amid Mulally rumors, Bill Ford praises company's deep bench

Bill Ford went on the offensive to combat the rumors that CEO Alan Mulally would leave Dearborn for Steve Ballmer's vacated position leading Microsoft, adding that even if the 68-year-old, former Boeing exec were to depart, the Ford executive team is in a good place.
"I'm happy [Mulally] is going to stick around. But we also feel really good about where we are in terms of succession," Ford told Bloomberg TV, according to Automotive News. Rumors first cropped up about Mulally leaving Ford when AllThingsD speculated that he was in the running, early last month. In that same report, which you can read here, Ford's board of directors reportedly okayed the CEO stepping down ahead of his planned retirement in 2014.
That opened the floodgates, culminating in a report from a few days ago that the rumors over Ballmer's successor just might be true. The story is especially troubling, as Ford hasn't had Mulally under contract, according to AN. "He's here as long as he and I would like it to happen," Ford said, "We're also cognizant of training the next generation and getting them ready to go as well."

How tariffs in China could cause a meltdown in the American South

While BMW is clearly a German company, the crossovers that are exceedingly important to it are actually made in Spartanburg, South Carolina. And more than that, the Spartanburg plant (physically located in the town of Greer) is where the corporate know-how and capability for those vehicles is concentrated. These are the vehicles – specifically, the BMW X3, X4, X5, X6, X7 – that drove record growth for the company in 2018, according to BMW. But whatÂ’s most notable about BMW Group Plant Spartanburg, given current events, is that according to the U.S. Department of Commerce it was the largest automotive exporter by value for the fifth year running in 2018. ThatÂ’s worth emphasizing: largest automotive exporter by value. Not GM. Not Ford. BMW. And where might one assume that more than a few of those X vehicles are shipped to? China. Some 360 miles southwest of Spartanburg is Mercedes-Benz U.S. International, Inc., in in Tuscaloosa County, Alabama. It started building vehicles in 1997. Since then, Daimler AG has invested in excess of $5.5 billion in the facility. It manufactures the crossover now known as the GLE, formerly the ML-Class. It also makes the GLE coupe and GLS. Daimler describes the Tuscaloosa facility as “the traditional home of SUV production” for those vehicles. When it reported its global 2018 sales, Daimler noted that on a global basis SUVs account “for more than a third of all Mercedes-Benz sales.” According to the Chinese finance ministry, on December 15th the Chinese government will impose a 25% tariff on automobiles (and a 5% tariff on auto parts) from the U.S. Certainly this is going to have a direct effect on the sales of vehicles that are manufactured in the U.S. and exported to China. BMW and Mercedes are going to take it on the chin for the vehicles that they make in plants that they invested in so heavily in the U.S. Which could potentially mean that people in places like Greer, South Carolina, and Vance, Alabama, are going to find themselves in the crosshairs of the combatants. Soo too could Lincoln, which produces vehicles in places like Louisville, Kentucky (Navigator), Chicago, Illinois (Aviator) and Flat Rock, Michigan (Continental). Although the Tesla Gigafactory 3 is rapidly nearing completion in Shanghai, it is worth noting that vehicles built in Fremont, California, are being sold in China in numbers that donÂ’t make Musk unhappy.