Paul Young’s Post

“Li Auto Inc.’s first-quarter vehicle sales missed analyst estimates as deliveries of its first pure electric car fell short of its own target. The Chinese automaker reported sales of 24.25 billion yuan ($3.6 billion) for the three months ending March 31, up 32% year-on-year but short of the 26.71 billion yuan analysts were looking for. The Beijing-based company’s first-quarter net income was 1.3 billion yuan, it said in a statement Monday. Analyst expectations were for a 1.6 billion-yuan profit, according to data compiled by Bloomberg. Li Auto delivered 80,400 vehicles last quarter, including the shipments of its first battery-electric model, the seven-seat MEGA van.” “Tepid demand for the van, which starts at 559,800 yuan, forced Li Auto to cut its quarterly delivery target to between 76,000 and 78,000 vehicles, from an earlier goal of 100,000 to 130,000 units. Before the release of the MEGA, Li Auto’s range consisted of extended-range EVs with a gasoline motor to charge the batteries. The automaker’s first-quarter gross margin came in at 20.6%, broadly in line with 12 months ago. The company said Monday it now expects second-quarter revenue of between 29.9 billion yuan to 31.4 billion yuan, well down on the 38.6 billion yuan analysts had forecast.” “Second-quarter vehicle deliveries are expected at 105,000 to 110,000 units against the market’s expectation of 130,692 units. As well as disappointing sales of its new van, Li Auto is facing increased competition from new entrants to China’s EV market such as Huawei Technologies Co. Ltd. and Xiaomi Corp., and a bruising price war. Local media reported earlier this month that Li Auto has initiated job cuts affecting almost 20% of its workforce — which may amount to over 5,000 employees — mostly in sales, human resources and assisted driving. Those job cuts follow rival Nio Inc., which reduced its staff by 10% last year. Li Auto’s U.S.-listed shares are down 33.5% so far this year.”

■Mercedes-Benz experienced a 3 percent decline in worldwide sales, and electric vehicle (EV) sales dropped by a quarter! ■ In the Netherlands and the United States, Mercedes-Benz sold more cars. Source: Automotive Online NL ■ Mercedes-Benz sold fewer passenger cars in 2024 compared to the previous year, according to ANP reports. This decline in sales is partly attributed to weaker performance in the Chinese market. Additionally, the company sold nearly 25% fewer electric cars. ■ Global sales of Mercedes-Benz passenger cars, including Maybach and Mercedes-AMG, fell below 2 million units, representing a 3 percent decrease compared to 2023. This decline is primarily attributed to a 7 percent drop in car registrations in China. Additionally, sales also decreased in Europe, including the German market. ■ Sales of electric cars declined by nearly 25%. Meanwhile, sales of Mercedes-Benz commercial vehicles also fell, totaling over 405,000 units, which represents a 9% drop. In North America, however, Mercedes-Benz sold more cars than in the previous year. The company also saw an increase in sales in the Netherlands, with a total of 13,356 cars sold, reflecting a growth of 7.6% (source: RDC). Mercedes-Benz is not the only German car manufacturer facing challenges in the Chinese market; Volkswagen also reported a decrease in car sales in China last year. #Mercedes

New Post: The Auto Magazine - Toyota Motor North America Reports 2024 U.S. Sales Results - https://lnkd.in/dPAB-c4Y Toyota Motor North America (TMNA) today reported year-end 2024 U.S.  sales of 2,332,623 vehicles, an increase of 3.7 percent on a volume basis and an increase of 3.1 percent on a daily selling rate (DSR) basis compared to 2023. The company reported fourth quarter 2024 U.S. sales of 603,104 vehicles, a decrease of 2.7 percent […]

New Post: The Auto Magazine - Toyota Motor North America Reports U.S. June and First Half 2024 Sales Results - https://lnkd.in/d7M8a9Kv Toyota Motor North America (TMNA) reported U.S. June sales of 193,120 vehicles, down 1.2 percent on a volume and daily selling rate (DSR) basis versus June 2023. June electrified vehicle sales totaled 84,781, up 64.5 percent on a volume basis and DSR basis, representing 43.9 percent of total monthly sales. TMNA second quarter U.S. sales […]

The Hidden Truth Behind Auto Sales Figures: Self-Registrations on the Rise When analyzing sales figures, it’s crucial to dig deeper. Many automakers inflate their numbers through self-registrations, a practice where vehicles are registered to the manufacturer itself. These so-called tactical registrations can account for a significant share of reported sales. Notably, a Chinese brand currently leads the pack for a very specific reason. Self-registrations have long been a contentious topic in the automotive industry. When sales slow down, manufacturers and importers often turn to this tactic to keep production lines running, fulfill contractual obligations, or avoid regulatory limits. If you think this involves only a small percentage, think again—many automakers register every third car to themselves. With self-registration rates often exceeding one-third of total sales, it’s a practice that inflates figures without reflecting true market demand. After the COVID-19 pandemic, when such registrations were notably low, these numbers have surged over the past two years, especially in the struggling electrified vehicle market. (Focus)

New Post: The Auto Magazine - Toyota Motor North America Reports 2024 U.S. Sales Results - https://lnkd.in/d9fHacPB Toyota Motor North America (TMNA) today reported year-end 2024 U.S.  sales of 2,332,623 vehicles, an increase of 3.7 percent on a volume basis and an increase of 3.1 percent on a daily selling rate (DSR) basis compared to 2023. The company reported fourth quarter 2024 U.S. sales of 603,104 vehicles, a decrease of 2.7 percent […]

Hyundai and Kia both said they generated record U.S. new-vehicle deliveries in October, led by strong growth in electric and hybrid models.Hyundai said sales surged 18 percent to 71,802 while Kia deliveries gained 16 percent to 68,908. For Hyundai, Sonata sales more than doubled to 6,300 vehicles while Ioniq 5 EV deliveries rose 51 percent to 4,498. Both the Tucson and Palisade crossovers saw 27 percent improvements. Hybrid sales surged 91 percent, the automaker said.It was the third consecutive year the automaker set an October record, Randy Parker, CEO of Hyundai Motor America, said in a statement Nov. 1. For the year to date, Hyundai sales are up 4 percent.Kia posted similar October records across its U.S. vehicle lineup, generating records for its electrified models and crossovers. Deliveries of the top-selling Sportage crossover increased 24 percent to 13,681 while Telluride sales rose 14 percent to 9,964 vehicles. Sales of the new Kia K4 compact sedan reached 7,901 vehicles in the month.Kia sales for the first 10 months of 2024 are down 1.6 percent.Overall U.S. new light-vehicle sales are expected to increase as much as 11 percent in October, spurred by stronger retail volume that will offset lower fleet deliveries, according to forecasts from J.D. Power, GlobalData, Cox Automotive and S&P Global Mobility.

The Hidden Truth Behind Auto Sales Figures: Self-Registrations on the Rise When analyzing sales figures, it’s crucial to dig deeper. Many automakers inflate their numbers through self-registrations, a practice where vehicles are registered to the manufacturer itself. These so-called tactical registrations can account for a significant share of reported sales. Notably, a Chinese brand currently leads the pack for a very specific reason. Self-registrations have long been a contentious topic in the automotive industry. When sales slow down, manufacturers and importers often turn to this tactic to keep production lines running, fulfill contractual obligations, or avoid regulatory limits. If you think this involves only a small percentage, think again—many automakers register every third car to themselves. With self-registration rates often exceeding one-third of total sales, it’s a practice that inflates figures without reflecting true market demand. After the COVID-19 pandemic, when such registrations were notably low, these numbers have surged over the past two years, especially in the struggling electrified vehicle market. (Focus)

New Post: The Auto Magazine - Kia Announces Global Sales Record for 2024 and Shares 2025 Targets - https://lnkd.in/dKUD4D-G Kia Corporation announced today global sales of 3,089,457 vehicles in 2024, posting a new annual global sales record. This represents a 0.1 percent increase compared with the same period last year. Excluding special purpose vehicles, Kia’s 2024 sales in markets outside of Korea saw a one percent rise over the previous year, to 2,543,361 units. […]

New Post: The Auto Magazine - Toyota Motor North America Reports U.S. June and First Half 2024 Sales Results - https://lnkd.in/dX96aZQX Toyota Motor North America (TMNA) reported U.S. June sales of 193,120 vehicles, down 1.2 percent on a volume and daily selling rate (DSR) basis versus June 2023. June electrified vehicle sales totaled 84,781, up 64.5 percent on a volume basis and DSR basis, representing 43.9 percent of total monthly sales. TMNA second quarter U.S. sales […]