Analysts were surprised by the soild increase in retail sales and noted that sales in April were also revised to show a respectable gain of 0.4 percent, instead of the original estimate that sales had fallen by 0.2 percent.
Ian Shepherdson, chief U.S. economist at High Frequency Economics, said one possible explanation was that consumers have [...]
Major automakers are expected to post steep declines in U.S. sales for May, as the spike in gasoline prices battered an industry already reeling from weak consumer confidence and tighter credit.
Weak U.S. sales in May would add to growing concerns that the world’s largest market for vehicles is headed for a deeper downturn this year, [...]
Despite sliding 0.5% to 184,467 units, vehicle sales in Canada have posted their second-best month of May and are on track to perhaps their best year ever, says auto analyst Dennis Desrosiers.
“Rarely does Canada go counter-cyclical to the U.S. market for any length of time and it has now been a couple of years,” said [...]
U.S. auto sales failed to gain traction in May, with General Motors (GM - Cramer’s Take - Stockpickr) and Ford (F - Cramer’s Take - Stockpickr) reporting hefty declines for the month.
GM, the nation’s No. 1 auto seller, said auto sales fell a greater-than-expected 30% in May to 272,363 vehicles. Truck and SUV sales dropped [...]
said Tuesday its May U.S. sales rose, as a shift in consumer demand toward more fuel efficient vehicles boosted its car sales.
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Honda sold a total of 167,997 in May, up 15.6 percent from 145,367 in the same month last year. Adjusted for one additional selling day in the recent month compared with [...]
Back in September of 2006, when Adam Silverleib opened Silko Kia on the Route 44 “auto mile,†he was convinced he had a winner on his hands.
His Silko Honda dealership, located next door, had been successful since 2000, the year the family-owned business relocated from Brockton to Raynham.
Picking up the less expensive Korean brand — [...]
“The economy is far from being ‘out of the woods,’” wrote Brian Bethune and Nigel Gault, economist for Global Insight. The economic indicators in the coming week will show “an economy that is still struggling.”
The data will cover all the main parts of the economy: Consumer spending, manufacturing, housing and inflation.
Consumer spending, industrial output and [...]
Last we looked, none of Ontario’s auto plants were located in Premier Dalton McGuinty’s Ottawa-area riding. Yet the premier has been consistently supportive of Canada’s largest manufacturing sector, the powerhouse of Canada’s largest provincial economy.
When General Motors Corp. announced about 970 layoffs at its Oshawa complex last week, McGuinty popped up a day later to [...]
China’s fast-rising auto makers, enjoying spectacular growth in domestic and emerging markets, Auto Sales are postponing their ambitions in North America as they focus on easier markets in the near term.
The biggest Chinese auto makers, which had earlier signalled that they might enter North America as early as next year, are now admitting that they [...]
(Adds details from report, quote)
NEW YORK, April 10 (Reuters) - U.S. retail sales excluding
cars rose in March following a record drop in February, but
much of the rebound was fueled by record-high gasoline prices,
according to a private report released on Thursday.
Consumer spending minus auto sales climbed 0.6 percent last
month [...]
