Automotive News’ Post

The recent cyberattack on CDK Global has significantly disrupted U.S. new-vehicle sales growth for the second quarter, hitting several dealerships during a crucial selling period in late June. This event underscores the critical role of cybersecurity in the automotive industry and the broader implications of cyber vulnerabilities on not only technology companies. #cybersecurity #automotive #vulnerability

New Post: The Auto Magazine - Toyota Motor North America Reports March, First Quarter 2024 U.S. Sales - https://lnkd.in/d9yys9uS Toyota Motor North America (TMNA) today reported March 2024 U.S. sales of 214,894 vehicles, up 21.8 percent on a volume and daily selling rate (DSR) basis versus March 2023. Sales of electrified vehicles for the month totaled 78,157, representing 36.4 percent of total sales volume.  For the first quarter, TMNA reported sales of 565,098 vehicles, […]

American Honda Motor Company, Inc. will reduce dealership profit margins on new vehicles and make other changes designed to help support the company's costly transition to electric vehicles. The Japanese automaker's 0.5 percent profit margin reduction — affecting the amount between the invoice price that dealerships pay and the manufacturer's suggested retail price — comes with additional changes to marketing, advertising and service payments. https://lnkd.in/ecfYEb3u

Nissan Motor Corporation dealerships across the USA are suffering significant YTY losses. Automotive News reports around 38% of Nissan's 1,071 dealers in America are losing money. Profitability is down to its lowest levels in 15 years. According to the report, that comes down to two main reasons: a lack of hybrid offerings and an over-saturation of dealerships in their network. #carsales #automotive #retailnews #hybrids #evs #profits

New Post: Toyota Motor North America ReportsU.S. September and Third Quarter 2024 Sales Results - https://lnkd.in/es7Y2ipF Motor North America (TMNA) reported U.S. September sales of 162,595 vehicles, down 20.3 percent on a volume basis and down 9.9 percent on a daily selling rate (DSR) basis versus September 2023. September electrified vehicle sales consisting of hybrids, plug-in hybrids, pure electrics and fuel cells were 48.4 percent of total sales volume and …

New Post: Toyota Motor North America ReportsU.S. September and Third Quarter 2024 Sales Results - https://lnkd.in/eGTVmid8 Motor North America (TMNA) reported U.S. September sales of 162,595 vehicles, down 20.3 percent on a volume basis and down 9.9 percent on a daily selling rate (DSR) basis versus September 2023. September electrified vehicle sales consisting of hybrids, plug-in hybrids, pure electrics and fuel cells were 48.4 percent of total sales volume and …

New Post: The Auto Magazine - Toyota Motor North America Reports March, First Quarter 2024 U.S. Sales - https://lnkd.in/d3yqjX58 Toyota Motor North America (TMNA) today reported March 2024 U.S. sales of 214,894 vehicles, up 21.8 percent on a volume and daily selling rate (DSR) basis versus March 2023. Sales of electrified vehicles for the month totaled 78,157, representing 36.4 percent of total sales volume.  For the first quarter, TMNA reported sales of 565,098 vehicles, […]

“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.”

Nissan Motor Corporation is the only major automaker that doesn't offer a mild or plug-in hybrid vehicle in the U.S. According to Cox Automotive Inc., sales of conventional hybrids more than doubled in the quarter compared with a year earlier. PHEV sales rose 59%.  Demand for mild hybrids and plug-in hybrids is eating into the market growth of two key Nissan models.  "What we thought would be more EV-only [demand] is instead a mixture of hybrid and EV. We are doing well with Ariya; I just think it's going to be a longer path and a longer trajectory than originally predicted," said Judy Wheeler, Nissan brand's U.S. sales boss. The lack of hybrids stings Nissan in another key segment — compact crossovers. Nissan's best-selling Rogue crossover suffered a 29 percent sales tumble in Q2. "In that segment, a lot of manufacturers are getting traffic because they have a hybrid," Wheeler said. "And we won't have that for a while." Wheeler declined to elaborate on Nissan's hybrid plans. "It will be in the right vehicle, in the right segments," she said. 'We are working on something."  The next-generation Rogue, arriving in 2026, could be offered with a plug-in hybrid powertrain.