Auto News for June 1 – May Auto Sales – As Predicted

  

  Ford outsold GM last month! One of the facts included in May auto sales reports that are trickling out today. In total vehicle sales, the Blue Oval said it sold 3,762 more vehicles than the General did and that doesn’t happen every month.

 GM sales fell 1.3 percent compared to May of 2016. Ford sales rose 2.2 percent year-over-year. Fiat Chrysler reported a 0.9 per cent sales decline.

 Trucks and crossovers remained hot sellers with the Ford F-150 pickup recording its best May sales in more than a decade.

 GM said it remains on track to end 2017 with approximately the same day supply of vehicles as it did at the end of 2016 with fewer cars and more trucks and crossovers in the mix this year.

 Fiat Chrysler said Ram truck sales rose 18 percent, Jeep Grand Cherokee sales increased 14 percent and more Chrysler Pacifica vans went out the door since its launch last year.

 Elsewhere

 VW said sales rose 4.3 percent while Audi saw a 2.5 per cent gain thanks to the A4, A5 and SUV’s.

 It was another tough month of Mazda with sales down 7.9 percent year-over-year. Year-to-date sales through May are up 0.1 percent versus last year, with 119,282 vehicles sold. Demand was strong for the all new CX-5.

 Overall sales at Toyota were off one-half-of-one percent while Nissan had a 3 percent gain thanks to increased demand for its Infiniti brand.

 Honda sales rose as much as Toyota’s declined. Acura sales increased 2.8 percent while Honda brand sales rose 0.7 percent.

 The analysts at Kelley Blue Book today reported the estimated average transaction price for light vehicles was $33,261 in May. New-car prices have increased by $847 (up 2.6 percent) from May 2016, while falling $266 (down 0.8 percent) from last month.

 Said one KBB official, “Compact SUVs, the most popular segment in terms of sales, saw an increase of 2 percent year-over-year and clearly remain in very high demand. There are signs, however, of discounts in SUV segments that are growing quickly, including subcompact and luxury SUVs, which are likely helping to fuel those segments’ double-digit sales growth this year.”

 As the average transaction price for a new vehicle continues to increase, Experian reports more consumers are financing their loans over a period of 73 to 84 months. Late last year, nearly 29 percent of loans were for the longer seven year period. Experian said people were taking out longer term loans to purchase used cars as well. Automotive News said some credit unions are approving 96 month, or 8 year loans.

 A lack of demand for cars has GM cutting one shift at its transmission plant in Warren, Michigan, at the end of June. It is not known how many workers will be affected.

 The July edition of Car and Driver has an article about things that bug the staff about cars, trucks, and driving. “The Car and Driver Guide to Automotive Bull—-“ is worth the purchase of the magazine and I recommend it highly.

 

  

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