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November U.S. new car sales mixed as automakers deepen discounts

DETROIT — Major automakers posted mixed U.S. November new vehicle sales on Friday and predicted a competitive December as they rushed to sell vehicles and boost their numbers before 2017 ends. Automakers are trying to sell down 2017 model-year vehicles, offering high discounts to consumers as the year-end nears. In 2016, the industry reported record annual sales of 17.55 million units. According to consultancies J.D. Power and LMC, discounts have been above 10 percent of the average transaction price for 16 of the past 17 months, a level experts say is unhealthy and unsustainable. The November sales results come as the National Automobile Dealers Association said on Friday it expects new vehicle sales to decline to 16.7 million units in 2018, after dropping to 17.1 million for the full year in 2017. If that forecast comes true, the race to move new vehicles off dealers' lots will only intensify next year. Brandon Mason, a director at PwC's automotive practice, said a worrying trend for the industry was a rising number of subprime loans. He said subprime levels are at just over 20 percent of originations, against more than 30 percent prior to the Great Recession, but recent increases remain a concern. "That's a bit of a red flag," Mason said. "It's something to keep an eye on as we move into 2018." November results by automaker: General Motors: Sales fell 2.9 percent, with sales to consumers flat against the same month in 2016. Much of the decrease was driven by lower fleet sales. GM said strong SUV and crossover sales pushed its average transaction price for the month above $37,000 for the first time. The level of unsold cars, which has been a concern for analysts and the industry, rose slightly to 83 days' supply, from 80 days at the end of October. "More vehicles are sold in December than any other month, and we are very well positioned because we have momentum in so many segments, but especially in crossovers," said Kurt McNeil, U.S. vice president of sales operations. Fiat Chrysler Automobiles: Fleet sales are low-margin, and FCA in particular has targeted a significant reduction in this type of sale in 2017. It posted a 4 percent overall decrease in sales for November, but fleet sales were down 25 percent while sales to consumers were up 2 percent on the year. Ford: The No. 2 U.S. automaker reported a 6.7 percent increase for the month, with fleet sales up nearly 26 percent and retail sales 1.3 percent higher than in November 2016.

NHTSA closes rollaway investigation into 1.56M Ford SUVs

It's taken four years of study, but the National Highway Traffic Safety Administration has finally closed the books on its investigation into rollaway accusations surrounding 1.56-million Ford SUV models.
The probe, which centered on the 2002-2005 Ford Explorer, 2002-2005 Mercury Mountaineer and 2003-2005 Lincoln Aviator, ends without the federal agency calling for a recall. According to The Detroit News, the investigation was closed due to a "low number of complaints" - NHTSA documented 180 such complaints that resulted in 14 crashes and six minor injuries, but the number of incidents have been slowing. The suspected defect rate for the trucks' automatic transmissions was found to be 4.4 per 100,000 units, and the brake-shift interlock mechanism failure rate was judged to be even lower at 3.4 per 100k.

Monsoon rains disrupt production for Ford, BMW in India

Even modern production techniques can be stymied by Mother Nature. This was demonstrated most recently in India, as torrential, monsoon rains caused a deluge that forced multiple automakers to suspend production. Ford, Renault, and BMW all halted work at their Indian facilities around the southern city of Chennai, also known as Madras. The annual rains disrupted public transport around the city, preventing employees from making the trek into city's factories. According to Automotive News, Chennai saw 48 inches of precipitation last month alone, which is more than Seattle, WA saw in all of 2014. While Ford and BMW closed things down for all of December 1, Renault just cancelled a pair of shifts at its Chennai factory. This is the second time in the past month that automakers in southeast India have been forced to stop production due to severe flooding, and things aren't likely to improve. According to The Weather Channel, forecasts call for thunderstorms over five of the next seven days, while the chance of rain won't fall below 80 percent until December 8. Ford, Renault, and BMW are far from the only automakers that could stand to be impacted by the rains. The city has been nicknamed "The Detroit of India" for its extreme automotive presence. Daimler, Hindustan, Hyundai, Mitsubishi, and Nissan all own factories in the region. News Source: Automotive News - sub. req.Image Credit: STR / AFP / Getty Images Plants/Manufacturing BMW Ford Renault