US Auto Sales Fall for 2nd Year at GM, Ford, FCA, Toyota, BMW, Mazda. Total 2017 Sales Drop Below 2015

US Auto Sales Fall for 2nd Year at GM, Ford, FCA, Toyota, BMW, Mazda. Total 2017 Sales Drop Below 2015:

Tesla gets crushed by the big boys.

Total new-vehicle sales in the US fell 5.2% year-over-year in December to 1.6 million units. For all of 2017, sales declined by 320,000 vehicles, or 1.8%, to 17.23 million units. It was the first overall decline since the Financial Crisis.

Compared to 2015, sales fell by 249,033 vehicles, or 1.4%. These sales are vehicles delivered by dealers to their customers, or delivered by automakers directly to large fleet customers, as reported by Autodata.

For the big three US automakers and some import brands it was the second year in a row of sales declines (two-year percent change from 2015):

  • GM -2.7%
  • Ford -1.1%
  • Fiat Chrysler (FCA) -8.6%
  • Toyota -2.6%
  • BMW -12.6%
  • Mazda -9.3%

The table below shows new-vehicle sales by automaker, sorted by total sales in 2017 (gray column). Automakers with declining sales in 2017 are marked in red. The green column shows the two-year percentage change from 2015:

Read moreUS Auto Sales Fall for 2nd Year at GM, Ford, FCA, Toyota, BMW, Mazda. Total 2017 Sales Drop Below 2015

General Motors Auto Sales Crash, Dealer Inventory Near All Time High

GM Auto Sales Crash, Dealer Inventory Near All Time High:

It was expected to be a bad quarter for General Motors. It ended up being abysmal.

GM reported that July auto sales crashed by a whopping 15%, nearly double Wall Street’s already depressed expectations of a 8% drop, and with GM mothballing production across the country to catch up with lagging demand, it still sold only 226,107 vehicles as a result of double digits drops in Chevy, Build and Cadillac Sales of 15.3%, -30.5% and -21.7%, respectively. The only “good” performer was GMC, which dropped by “only” 7.3% Y/Y.

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GM Lied To The Public And To Trump About Where Chevrolet Cruze Sedans Sold In The USA Are Assembled

GM Lied To The Public And To Trump About Where Chevrolet Cruze Sedans Sold In The USA Are Assembled:

How one auto enthusiast exposed GM’s lie that “all Chevrolet Cruze sedans sold in the U.S. are built in GM’s assembly plant in Lordstown, Ohio.”

General Motors Slashes 2000 Jobs, Suspends 3rd Shift On Bloated Inventories, Slowing Sales

GM Slashes 2000 Jobs, Suspends 3rd Shift On Bloated Inventories, Slowing Sales:

Who could have seen this coming? Just weeks after Ford idled four factories due to slumping sales and excess inventory, GM just followed by slashing 2000 jobs permanently and suspending a third shift at production facilities in early 2017.

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GM, Ford US Auto Sales Tumble In “Bellwether” Month Of May

GM, Ford US Auto Sales Tumble In “Bellwether” Month Of May:

You can’t say we weren’t warned. As reported over a month ago, before the surprising rebound in April retail sales, the biggest drag on consumer spending was auto sales.  One month later, this is finally starting to materialize when earlier today, both GM and Ford’s US vehicle sales fell more than analysts had estimated in May. According to Bloomberg this “raises questions about stalling consumer demand.” Not really: as we also warned a month ago when looking at stalling use car price changes, it was only a matter of time before the lack of demand for every low priced autos spilled over to new car sales, which it now has.

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Bailout World: Volkswagen “Cheating” Fine Is 20 Times Higher Than GM’s For ‘Killing 174 People’

Bailout World: Volkswagen “Cheating” Fine Is 20 Times Higher Than GM’s For ‘Killing 174 People’:

When bailout-darling GM ‘fessed up to an intentional ignition-switch defect, tied to at least 174 deaths, The Justice Department fined them $900 million (and no employees faced criminal charges). So, in this consequence-less world in which we live, when Volkswagen admits to literally cheating emissions-standards tests, it faces up to $18 billion in fines from The EPA, one has to wonder whether “we” have our priorities right?

GM Authorizes $5 Billion Stock Buyback, Will Return All Cash Over $20 Billion To Shareholders

 GM

GM Authorizes $5 Billion Stock Buyback, Will Return All Cash Over $20 Billion To Shareholders (ZeroHedge, March 9, 2015):

Doubting if the growth ahead of GM is now over, and the great post-bankruptcy “success story” is rapidly fading as the company has been pushed to resort to the kind of financial engineering which has pushed the S&P higher for all of 2014, and follows a record month of stock buyback announcements? Then doubt no more: moments ago GM announced it is authorizing an immediate $5 billion stock buyback, and plans to return all cash above a $20 billion floor to shareholders.

From the Press Release:

Read moreGM Authorizes $5 Billion Stock Buyback, Will Return All Cash Over $20 Billion To Shareholders

GM Now Without Doubt The Biggest Company Joke In US History: 28.5 Million Cars Recalled In The First Half Of 2014

Here Are The 28.5 Million Cars Recalled By GM In The First Half Of 2014 (ZeroHedge, June 30, 2014):

One could say things about what is now without doubt the biggest company joke in the history of the US – maybe global – automotive sector, putting even East Germany’s infamous Trabant to shame.

Things like following the just announced latest recall of another 7.6 million cars across models from 1997 to 2014, and another 800K+ cars thrown in just because, GM has recalled more cars in the first 6 months of 2014 than it has sold in all of 2011, 2012 and 2013. Which incidentally would be true as the chart below shows.

Gm total recalls vs sales

Things like it took GM over a decade to that these latest recalls affecting cars made in the 20th century resulted in “seven crashes, eight injuries and three fatalities.

Read moreGM Now Without Doubt The Biggest Company Joke In US History: 28.5 Million Cars Recalled In The First Half Of 2014