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Black Friday could power record November sales

Black Friday allows some shoppers to line up in the wee hours for doorbuster deals on laptops and TVs, but the day after Thanksgiving could mean huge profits for automakers this year, too. Multiple industry analysts predict record growth for the industry for November, and the upcoming incentives could help those numbers. TrueCar predicts that Black Friday incentives could provide a major boost, and it estimates a November sales jump of 3.9 percent from last year to a record for the month at over 1.35 million vehicles. As examples of potential deals, Chevrolet, Buick, and GMC plan to offer up to 20 percent off some models, and FCA US has no-interest financing for up to 75 months from its brands. "Consumers are excited about Black Friday promotions and these month-long events appear to be resonating with car buyers." Eric Lyman, TrueCar's vice president of industry insights, said in the report. Black Friday only recently became a big day for auto sales, according to an analysis from Edmunds. Last year, Thanksgiving weekend posted double the sales as any other weekend in the month. The company predicts a sales volume of over 1.33 million vehicles for November. If that happens, it would be the beat the previous record of 1.32 million sales for the same month in 2001. Some forecasts temper the gains for November but only slightly. Kelley Blue Book predicts flat year-over-year sales at 1.3 million vehicles, but that's largely because there are two fewer sales days in 2015 versus in 2014. "Black Friday deals on vehicles have grown in popularity in recent years, and should be a big contributor to this month's sales results," said analyst Tim Fleming in the study. The combined research from J.D. Power and LMC Automotive have the lowest November prediction among this group at just over 1.279 million sales for the month versus 1.299 million in 2014. However, once the researchers adjust the figures for the two fewer selling days, 2015 could actually be seven percent higher than last year. TrueCar Finds New Auto Sales in November to Reach Monthly Record Black Friday promotions bolster sales gains; industrywide incentives up 6% from last year November 24, 2015 12:11 PM Eastern Standard Time SANTA MONICA, Calif.--(BUSINESS WIRE)--TrueCar, Inc. (NASDAQ: TRUE) projects total new vehicle sales, including fleet deliveries, will reach 1,352,500 units in November, a 3.9 percent increase from a year ago and the highest ever for the month.

2021 GMC Yukon will pull a 180 thanks to a Hurricane Turn feature

GMC isn't a hip, young startup, but its engineers are out to prove it's possible to teach an old dog new tricks. The next-generation Yukon will offer adventurers seeking a quick turn-around a "Hurricane Turn" feature that functions a lot like Rivian's Tank Turn technology. The two systems use different hardware to perform a similar action. We didn't hear anything about the Hurricane Turn feature during the Yukon's unveiling because GMC planned to keep it under wraps until later, but an eagle-eyed report at Motor Trend uncovered it and quizzed the firm. It's real, and it's engaged when the driver switches the stability control system off, energetically turns the steering wheel in either direction, and mashes the accelerator pedal to the floor. The Yukon needs to be on a loose surface, too. If you're turning right, the on-board computer applies braking power to the passenger-side wheels to prevent them from spinning, while the engine continues to turn the driver-side wheels to rotate the Yukon on its own axis. The exact opposite happens if you're turning left. It's clever and relatively simple; there's no extra hardware required to enable the feature, though it shows the next Yukon is far more advanced than its predecessor. It goes without saying that only four-wheel drive models will receive the Hurricane Turn feature. There's no word yet on whether it will be compatible with all three engine options, or if it will be limited to a certain trim level. GMC will publish additional details about the system, and hopefully a video of it in action, in the coming months. Rivian, on the other hand, leveraged its four-motor electric powertrain to teach the R1T (and presumably the R1S) how to pull a 180. The right wheels turn in the opposite directions as the left wheels – hence the name Tank Turn – to spin the truck around like a CD in a Walkman. Its system doesn't use the brakes. The 2021 Yukon is due in showrooms in the summer of 2020, and Amazon-funded Rivian won't start making the R1S until the end of 2020 at the earliest, so GMC will beat its younger rival to the punch. What remains to be seen is how often motorists use either function. We're betting not very once the initial novelty wears off. Related Video:    

Frustrated GM investors ask what more Mary Barra can do

DETROIT — General Motors Co Chief Executive Mary Barra has transformed the No. 1 U.S. automaker in her almost five years in charge, but that is still not enough to satisfy investors. Ahead of third-quarter results due on Oct. 31, GM shares are trading about 6 percent below the $33 per share price at which they launched in 2010 in a post-bankruptcy initial public offering. The Detroit carmaker's stock is down 22 percent since Barra took over in January 2014. After hitting an all-time high of $46.48 on Oct. 24, 2017, the shares have declined 33 percent. In the same period, the Standard & Poor's 500 index has climbed 7.8 percent. Several shareholders contacted by Reuters said GM could face a third major action by activist shareholders in less than four years if the share price does not improve. "I've been expecting it," said John Levin, chairman of Levin Capital Strategies. "It just seems a tempting morsel to somebody." Levin's firm owns more than seven million GM shares. Barra has guided the company through the settlement of a federal criminal probe of a mishandled safety recall, sold off money-losing European operations, and returned $25 billion to shareholders through dividends and stock buybacks from 2012 through 2017. GM declined to comment for this story, but the company's executives privately express frustration with the market's reluctance to see it as anything more than a manufacturer tied mainly to auto market sales cycles. GM's profitable North American truck and SUV business and its money-making China operations are valued at just $14 billion, excluding the value of GM's stake in its $14.6 billion Cruise automated vehicle business and its cash reserves from its $44 billion market capitalization. The recent slump in the Chinese market, GM's largest, and plateauing U.S. demand are ratcheting up the pressure. GM is one of the few global automakers without a founding family or a government to serve as a bulwark against corporate raiders. In 2015, a group led by investor Harry Wilson pressed GM to launch a $5 billion share buyback, and commit to what is now an $18 billion ceiling on the level of cash the company would hold. In 2017, GM fended off a call by hedge fund manager David Einhorn to split its common stock shares into two classes. Einhorn, whose firm still owned more than 21 million shares at the end of June, declined to comment about GM's stock price. Other investors said there were no clear alternatives to Barra's approach.