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Driving sales: Demand high, inventory low for many auto dealers | Business

October 11, 20201 min read

TUPELO • A truck carrying eight GMC trucks and SUVs was on its way to the Dossett Big 4 dealership last Wednesday. Before the vehicles could be unloaded, four had already been sold.

At Dwayne Blackmon Chevrolet, the redesigned 2021 Chevrolet Blazer is in high demand, and owner Dwayne Blackmon can’t get midsize SUVS and trucks fast enough. The Blazer saw its best quarter ever, with sales up 45%, General Motors said.

For automobile dealers, 2020 is shaping up to be a pretty good year, especially considering a rough second quarter when the pandemic shut down factories and consumers pulled back on spending. While sales for the year are lower compared to a year ago, most automakers’ third quarter sales improved from the second quarter.

“We’re up; we just wrapped up September, and it was better than last September,” said Rudy Dossett, whose dealership sells Buick, Cadillac and GMC. House

AUTO DEAL

Improving Auto Demand And Increased Likelihood Of Change Driving New Interest In ON Semiconductor (NASDAQ:ON)

October 9, 20201 min read

I’ve had an odd “relationship” with ON Semiconductor (ON) over the years, with management’s inability to hit margin targets (and inability to drive margin leverage) and questionable M&A decisions factoring prominently into the negative side. On the other hand, I’ve always liked the potential of what ON could be under the right circumstances, and the shares have done pretty well since my last two positive write-ups (in a strong market for chip stocks, I’ll note).

With the CEO on his way out, I think ON Semiconductor’s capacity for change is higher now than ever before, and apparently I’m not the only one who sees upside in a differently-run ON, as Starboard has also gotten involved as an investor. On top of all that, guidance updates from companies including Sensata (ST), STMicro (STM), and NXP (NXPI) have all confirmed an improving environment for the key auto end-market.

At today’s price, there’s

AUTO MOBILE

Worldwide Ultra-High Strength Steel Industry to 2025 – Growing Demand from Automobile Sector

October 9, 20201 min read

The “Ultra-High Strength Steel Market – Growth, Trends, and Forecast (2020 – 2025)” report has been added to ResearchAndMarkets.com’s offering.

The market for the ultra-high strength steel market is expected to grow at a CAGR of more than 6% globally during the forecast period.

Increasing applications in the production of automobiles and growing demand from the construction industry are driving the market growth.

High cost of production and the outbreak of COVID-19 are the reasons expected to hinder the market growth.

Companies Mentioned

Key Market Trends

Growing Demand from Automobile Sector

Ultra-high Strength Steel (UHSS) is a newer generation of steel grades that provide extremely high-strength and other advantageous properties. UHSS mainly helps to meet safety, efficiency, emissions, manufacturability, and quality at a low cost.
The demand from the automobile manufacturing industries for the UHSS has been growing because of its properties. Martensitic type steels are majorly being used in

AUTO DEAL

Japanese auto giants to ‘demand payback’ in event of no-deal Brexit : CityAM

October 6, 20201 min read

Two of Japan’s auto giants will ask the UK to pay them back for any additional custom charges levelled against their cars if it fails to agree a free trade deal with the EU.

The Nikkei reported that Toyota and Nissan will want payments to cover the extra 10 per cent of tax that will be levied against automobile imports from the UK should no agreement be reached.

Read more: Car industry at risk of tariffs even if Brexit deal agreed

The carmakers declined to comment on the reports, but Nissan urged the two to work together to mitigate the potential impact on business.

In a statement, it said: “We urge UK and EU negotiators to work collaboratively towards an orderly, balanced Brexit that will continue to encourage mutually beneficial trade”.

Roughly 1.3m vehicles were made in the UK last year, almost half of which were manufactured by Japanese companies.

AUTO

Ford U.S. auto sales continue recovery on pickup demand

October 2, 20201 min read

(Reuters) – Ford Motor Co F.N on Friday continued to show signs of a recovery from the COVID-19 pandemic as demand for sports utility vehicles and pickup trucks helped boost third-quarter sales in the United States.

FILE PHOTO: Ford Ranger Raptor is seen during the media day of the 41st Bangkok International Motor Show after the Thai government eased measures to prevent the spread of the coronavirus disease (COVID-19) in Bangkok, Thailand July 14, 2020. REUTERS/Jorge Silva

The U.S. auto sector has climbed back quicker than other industries, but automakers had a hand in that with aggressive incentives like zero-for-84 months financing, payment deferrals and job assurance programs.

Ford posted a 5% fall in U.S. auto sales for the third quarter but said a continuing recovery from pandemic-induced lockdowns helped it record better sales compared with the second quarter.

The No.2 U.S. automaker, which announces its quarterly sales volumes a

AUTO DISCOUNT

Festive demand, new offers revive auto sales

October 2, 20201 min read

NEW DELHI: Festive cheer is fuelling a comeback for the auto industry. As the economy struggles amid the coronavirus-driven slowdown, the car and two-wheeler industry appears to be witnessing some green shoots, partly led by the excitement around new models and also because of the festive discounts and offers, which are expected to get deeper in the coming weeks.
As the Navratri and Diwali festive period comes closer, most of the auto companies reported strong wholesale numbers as they stocked up their dealerships on expectations of healthy retail sales.
Demand has been challenging this year as slowdown and job losses in metro towns have kept buyers away.

But companies said there were some positive signs. Toyota was the only notable company to have witnessed a decline in year-on-year sales, even though others such as Maruti Suzuki, Hyundai and Honda Cars grew by double digits. On the two-wheeler side, Hero Moto,

AUTO

Fiat Chrysler and GM’s 3Q auto sales fall from last year, but demand improves from depths of coronavirus lockdowns

October 1, 20201 min read

Fiat Chrysler reported its U.S. auto sales for the third quarter were down 10% from a year ago.
Industry forecasters expect domestic U.S. auto sales to be down between 11% and 13% from the third quarter of 2019.
Despite the decline, the market is showing improvement from the second quarter of this year, which was devastated by the coronavirus pandemic.

a car parked in a parking lot: The Key Auto Mall car dealership in Moline, Illinois.

© Provided by CNBC
The Key Auto Mall car dealership in Moline, Illinois.

Fiat Chrysler and General Motor’s auto sales fell in the third quarter, but both automakers saw a significant rebound in demand from the second quarter when the pandemic wreaked havoc on the industry.

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Fiat Chrysler’s sales fell 10% from a year ago, but they jumped 38% from the second to third quarter with 140,265 more vehicles sold from July through September than the previous three months. GM said its sales during the third quarter declined

AUTO DEAL

The Nikola-GM Deal Won’t Close Today. GM Might Demand a Bigger Stake.

September 30, 20201 min read

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General Motors

and

Nikola

recently announced a blockbuster deal, shaking up both the car and truck industries. The details were supposed to be nailed down by today, but negotiations are ongoing, according to both companies, leaving investors to wonder what comes next.

For the deal to go forward, Nikola (ticker: NKLA) might have to offer GM (GM) more stock.

The deal, announced Sept. 8, gives General Motors an 11% stake in Nikola in exchange for GM supplying parts and providing engineering and manufacturing support. Wall Street said the deal validated Nikola’s business model. It also helped change the perception of GM’s battery and fuel-cell technology platforms. After the deal, Morgan Stanley analyst Adam Jonas wondered in a research report if GM has a “stable of potential unicorns,” referring to the name given to privately held billion-dollar tech start-ups.

But a short seller’s report, published Sept.

AUTOMOBILE DEUTSCHLAND

Auto Parts and Accessories Market 2020: Research Report Covers Updated Data Considering Impact of Covid-19 on Share, Size and Future Demand

September 30, 20201 min read

The MarketWatch News Department was not involved in the creation of this content.

Sep 30, 2020 (PRNews Times via COMTEX) —
Big Market Research is one of the prominent market research firms has announced a novel report on Auto Parts and Accessories Market. The report contains vital insights on the market which will support the clients to make the right business decisions. The report also analyzes current and past market performance with significant key market events that help market players and end users to estimate future developments in the global market.

The Global Auto Parts and Accessories Market is gaining pace and businesses have started understanding the benefits of analytics in the present day highly dynamic business environment. The market has witnessed several important developments over the past few years, with mounting volumes of business data and the shift from traditional data analysis platforms to self-service business analytics being

CAR SPECIALS

Carvana Stock Spikes as Investors Bets on Growing Used Car Demand

September 29, 20201 min read

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An 8-story car vending machine, operated by the online used car dealer Carvana.

Mark Ralston/AFP via Getty Images

Investors continue to bid up stocks of used car sellers, amid growing signs of consumer demand. On Tuesday, Piper Sandler analyst Alexander Potter repeated his Overweight ratings on both

Carvana

and

Vroom,

boosting estimates for both companies.

Potter raised his target price on Carvana (ticker: CVNA) shares to $265 from $209, while adjusting his Vroom (VRM) target to $81 from $82. He sharply reduced projected losses for both companies for this year and next, and sees booming demand for online used car sales.

“We are responding to a barrage of data points, all of which suggest strong Q3 fundamentals, as well as better prospects for long-term share gains,” Potter writes in a research note. The analyst notes that at a Piper virtual event last week, both Carvana and Shift

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An 8-story car vending machine, operated by the online used car dealer Carvana.