Mexico Automotive’s Post

Mexico's Automotive Industry Accelerates to 7-Year High 🚗 Mexico's automotive sector saw its best November since 2016, with 147,971 units sold, up 14.3% year-over-year. Nissan, General Motors, and Volkswagen led the market, while new players like Chinese automaker Foton made a significant impact. Key trends include rising demand for electric and hybrid vehicles, sales resilience post-pandemic, and a strong finish expected for 2024. Stay ahead of the curve and explore the full analysis on Mexico Business News

SOME HIGHLIGHTS: - 19 straight gains....It was the 19th consecutive month that sales increased year over year. For the seven OEMs that report monthly, sales rose 12 percent in February, strengthened by bigger gains at Toyota Motor Corporation and Honda , and were up 11 percent year to date. - Top automakers, brands.... For the second straight month, Ford was the top selling brand, followed by Toyota, GlobalData said. General Motors was the No. 1 automaker, Toyota Motor ranked second, and Ford Motor Company was No. 3. GM and Toyota Motor have now alternated as the U.S. market leader for the past four months, GlobalData said. - Toyota, Honda inventories....Toyota North America ended February with 229,566 vehicles in U.S. inventory, a 31-day supply, with 127,385 cars and light trucks in dealerships' stock and 102,181 at ports or in transit to stores. A year earlier, the company's U.S. stockpiles stood at 134,361. American Honda Motor Company, Inc. brand inventories more than doubled year over year to 166,459 at the end of February, up from 142,636 a month earlier and 80,109 at the close of February 2023. NOTE...Nissan Motor Corporation is at 120-day supply. - Incentives....The average incentive on a new car or light truck rose 90 percent to $2,828 last month from February 2023, Motor Intelligence said. - Hybrids roll....In addition to rising stockpiles, Toyota and Honda are seeing double-digit growth in hybrid sales. They are not alone. Hyundai Motor Company (현대자동차), Ford Motor Company #automotive #automotiveindustry #marketing #digitalmarketing #sales #leadership #management #innovation #ecommerce #branding #ai #brand #ev #electricvehicles #technology

Nissan Motor Corporation has returned to a scorned sales practice to lift margins and market share. The Japanese automaker will give retailers escalating bonuses of $200-$750 on the Rogue, Pathfinder and Frontier if they reach or exceed October sales targets. The nameplates account for nearly half of Nissan's U.S. volume. The dealer volume bonus program — often referred to as stair-steps — is being implemented as Nissan treads water in the key U.S. market. But retailers are wary that the brand will relapse into a decade-old bad habit that pushed difficult sales targets that drove discounting, fostered customer distrust, diminished resale values, and dinged dealer profitability.  "Nissan is forcing the dealers to put discounts on the vehicles because it is unwilling to do so itself," said one of several retailers interviewed who asked not to be identified for fear of retaliation. "Demand has been terrible, so they see this as a way to stoke demand while not having to spend a lot to do it." Ford Motor Company, Kia Worldwide, Cox Automotive Inc., Alan Haig, Haig Partners, Ivan Drury, Edmunds

New Post: The Auto Magazine - Stellantis is On-track on Electric sales to meet new EU regulation, with Strong October performance - https://lnkd.in/eaxHDw3A Though overall industry sales have declined in recent months, Stellantis’ strong performance in select brands and countries underscores its ability to navigate tough market conditions. In a slowing electrified market, Stellantis reported significant growth thanks its broad BEV, PHEV, and MHEV offerings. BEVs captured a 12.5% share in the EU29 in October, with 1.2% sales […]

On October 3, the Federal Chamber of Automotive Industries announced that new vehicle registrations of 97,020units in September 2024 represented an decrease 12.4% over the last September. New vehicle sales of 927,246 units in the first nine months of the year represented an 3.1% increase YoY. Source - https://lnkd.in/gx9mKC5U #Australia recorded 97,020 new vehicle sales in September 2024, marking the first time the industry had exceeded 900,000 sales by the end of the third quarter. However, the September 2024 total represents a 12.4% reduction in sales compared to the same month in 2023. FCAI chief executive Tony Weber says that while the sales result to the end of September was solid, the easing in sales compared to the same month last year indicated challenging economic times. “During the early part of the year, we witnessed record numbers,” he says. “This is despite a substantial supply of EVs, and several new brands and models being introduced into the Australian market. It is important to note that EVs are currently concentrated in limited market segments such as passenger medium and small and medium SUVs. This trend in lower EV sales and increased hybrid and plug-in hybrids is reflected in markets worldwide as production and purchase incentives are being rewound,” he says. Toyota was the market leader with sales of 18,110 in September, followed by Ford (8303), Mazda (8201), Kia (7650) and Mitsubishi (6130).    Source - https://lnkd.in/gHmVxqNs   Analysis and Commentary – Automotive – September 2024 - https://lnkd.in/g53DRHub  

New Post: The Auto Magazine - Volkswagen Commercial Vehicles increases sales revenue in 2023 - https://lnkd.in/d3KXxq-D Volkswagen Commercial Vehicles is part of the Core brand group – the umbrella organisation of the Volkswagen Group’s high-volume brands – with the aim of ensuring joint growth and significantly increasing the overall efficiency of the five volume brands Volkswagen Commercial Vehicles (VWCV) significantly increased its annual profit for the third consecutive year, achieving a record value of 873 million euros (previous year: 529 million euros). Year-on-year sales revenue increased by more than 30 per cent to 15.3 billion euros (previous year: 11.5 billion euros). Thanks to the consistent implementation of the GRIP 2030 corporate strategy with the associated Performance […]

In February, the U.S. light-vehicle market experienced a strong rebound with sales up by 9.2% compared to the previous year, marking the 19th consecutive month of growth. The seasonally adjusted annualized rate of sales exceeded 16 million, surpassing expectations. Ford led in brand sales for the second straight month, while General Motors remained the top automaker. Toyota and Honda experienced increased inventories and sales, particularly in hybrid vehicles. Incentives rose significantly, prompting heightened competition among automakers. Ford plans to quadruple hybrid sales over the next five years in anticipation of slow electric vehicle demand growth. https://lnkd.in/gCra8pw2

March sales look robust, thanks to incentives and inventory: Analysts see March U.S. auto sales as the best month since May 2021 because of increasing inventories — and resulting rising incentives and retreating prices. #cars #auto #car

New Post: The Auto Magazine - Stellantis is On-track on Electric sales to meet new EU regulation, with Strong October performance - https://lnkd.in/eSnXbfW8 Though overall industry sales have declined in recent months, Stellantis’ strong performance in select brands and countries underscores its ability to navigate tough market conditions. In a slowing electrified market, Stellantis reported significant growth thanks its broad BEV, PHEV, and MHEV offerings. BEVs captured a 12.5% share in the EU29 in October, with 1.2% sales […]

Top U.S. automakers reported a fall in their third-quarter sales yesterday, hurt by fewer selling days and weaker consumer spending amid inflationary challenges and higher interest rates. Overall, U.S. new vehicle sales in September stood at around 1.17 million units, which represents a reasonably adjusted annual rate of 15.77 million units, according to data released by Wards Intelligence. Read more...