Canadian auto sales post record gains through March

Apr 05, 2017, 01:31
Canadian auto sales post record gains through March

In February, auto sales remained flat amid incentive-splurge and the bump up provided by the President's Day holiday weekend. Also, insider Ziad S. Ojakli sold 50,309 shares of the firm's stock in a transaction on Thursday, March 16th. Sequentially, sales were up 12 percent.

The automotive industry is trying to start the second quarter with its best foot forward on Monday, but sales reports look weak initially. Fiat Chrysler (FCAU) and Toyota Motor (TM) reported year-over-year declines. "But there are several areas of concern this year lurking just below the surface".

Long story made short, with the mostly meaningless exception of Nissan Motor Co Ltd (ADR) (OTCMKTS:NSANY), all the major vehicle brands in the U.S.

Major U.S. automakers' sales figures for March came in below market expectations and gave early evidence that America's long, robust boom cycle for vehicle sales may finally be losing steam. Norges Bank bought a new stake in shares of Ford Motor Company during the fourth quarter valued at about $277,396,000. Sales of sport-utility vehicles, crossovers and pickup trucks increased 5.5% to 117,521, reflecting a record March.

Automakers also are raising incentives a bit to keep sales moving, he said.

GM, Fiat Chrysler and Ford weren't the only automakers posting sizeable gains - Honda sales jumped 18.7 per cent to 17,392 vehicles, while Nissan enjoyed a 26.7 per cent jump to 14,523 vehicles.

Meanwhile, commercial deliveries rose 3 percent, helped by a 67 percent increase in Malibu deliveries and strong pick up and large van sales.

In related news, Chairman William Clay Ford, Jr. acquired 171,379 shares of the stock in a transaction dated Friday, March 24th.

The Dearborn-based automaker did report 10 percent growth for sales of its F-Series in March, though sales for all other Ford trucks fell by at least 17 percent. Sales of the Edge's upscale sibling, the Lincoln MKX, fell 3%. It sold 30,115 total vehicles in March, an increase of 22.9 percent from a year ago when it sold 24,498 cars and trucks.

NWS: Risk of Severe Thunderstorms Today
Parts of the Landstown area saw damage, with roofs missing and chunks of siding pulled off homes, with contents spilling out. We will climb into the mid 80s Tuesday and Wednesday with a cold front bringing in a slight chance for rain Wednesday.

Mata joins Smalling and Jones on United injured list
They have to play with pain, play with fatigue because there is no other chance. "Chelsea before and after are on holidays".

Oculus co-founder and Rift Creator Palmer Luckey leaves Facebook
Facebook declined to comment on whether Luckey's departure was of his own accord, per company policy on personnel moves. Oculus has confirmed the report, first spotted by UploadVR , with TechCrunch in a fairly cookie cutter statement.

Ford said its average transaction price rose $1,800 last month, compared with the industry average of $190. Through the first three months of the year, sales of the F-Series are up more than 10% compared to last year's first quarter, and topped 205,000 units.

In the first-quarter, GM's retail sales were 546,838 units, up 1.9 percent, and retail market share was up 0.2 percentage points to an estimated 16.8 percent.

Toyota sales slid 2.1% vs. views for a 1.2% gain. With March 2017 having the same selling days as 2016, sales fell 2.1 percent on a daily selling rate basis.

Nissan's overall sales rose 3.2 percent with trucks and SUVs rising 29 percent for the Nissan and Infiniti brands combined.

At Honda, auto sales fell 8.7 per cent, while truck and SUV sales rose 8.4 per cent. Fiat Chrysler's vehicle sales dropped 14 per cent and SUV sales were down 4 per cent.

Dealers concede their inventories are on the rise, but Mark Scarpelli, owner of Chevrolet, Kia and Fiat Chrysler dealers north of Chicago, said he considers it a normal part of the business cycle.

Analysts' mean recommendation for Ford Motor Company (F) stands at 2.80. Barclays PLC reiterated a neutral rating and issued a $36.00 target price on shares of General Motors Company in a research report on Tuesday, December 13th.

Nissan shares were down 0.26 percent at $19.21.

  • WWE flexes sports entertainment muscle at WrestleMania

    WWE flexes sports entertainment muscle at WrestleMania

    But, according to wrestling pundit, Dave Meltzer it would not be so big if Taker was pitted against the franchise. John Cena's first marriage ended in disaster for him as he lost a good part of his fortune during the divorce.
    Editor: Dutch church relief tempered by people's support for Wilders

    Editor: Dutch church relief tempered by people's support for Wilders

    Apart from Klaver's perceived honesty, the party's rise has also come at the expense of the tainted Labour Party (PvdA). If recent Dutch history teaches you anything about coalition-building, it is that it will not happen overnight.

    Home invaders killed at Oklahoma residence

    A fourth suspect behind the wheel of the getaway vehicle , 21-year-old Elizabeth Rodriguez, has turned herself in. Two of them died in the kitchen, while another crawled to the driveway before dying as well.
  • Fire breaks out near world's tallest tower

    Fire breaks out near world's tallest tower

    Building and safety experts have cited a popular type of cladding covering the buildings that can be highly flammable. The site of the blaze was next to a 63-storey tower which was was heavily damaged in a fire on New Year's Eve in 2015.
    White House invites lawmakers to see intelligence material

    White House invites lawmakers to see intelligence material

    Cohen-Watnick was an underling of Michael Flynn, the ousted national security adviser whom McMaster replaced. After appealing to Steve Bannon and Jared Kushner, the Post reported , Cohen-Watnick was reinstated.

    IPhone 8 or "iPhone Pro" - Could Apple Change iPhone Branding In 2017?

    Enthusiasts noticed, however, that the iPad has heavy similarities with the iPad Air 2, which has been discontinued by Apple . Of course, it's power can't be compared with the power of the two iPad Pro models since they are using a newer A9X chip.
  • Pence breaks Senate tie on Planned Parenthood funding bill

    Pence breaks Senate tie on Planned Parenthood funding bill

    The final vote to pass the measure through the Senate could happen as early as Thursday afternoon. In 2011, IN slashed funding for Planned Parenthood , shutting down many rural clinics.

    Lewis Hamilton believes he can beat Sebastian Vettel to world title

    Even if it's disappointing I'm pretty happy we understood quite a lot of things over the weekend. Hamilton defended Mercedes' decision to bring him in for a pit stop earlier than Vettel.

    US crude oil exports went to more destinations in 2016

    In the United States in particular, shale oil drillers have seized the opportunity to ramp up output and exports. May West Texas Intermediate crude rose 84 cents, or 1.7%, to settle at $50.35 a barrel.
  • EVM Tampering Row: Cong, AAP Demand Return Of Ballot Paper

    EVM Tampering Row: Cong, AAP Demand Return Of Ballot Paper

    In 2009, Subramanian Swami and GVL Rao alleged that the EVMs had been tampered with after the Congress party came back to power. He said that "someone joked, saying: ' Ab toh ho gaya (Now we're done for)'", creating an impression of something gone amiss.

    Antonio could give West Ham boost ahead of Arsenal clash

    In his debut season, Bilic steered West Ham to a respectable seventh place finish. "Personally, my head is clear and I still have a job to do here.

    Chelsea set to rival Manchester United on and off the field

    The games will make up the third from last weekend of the Premier League season, and are likely to still have plenty up for grabs. There are probably five teams fighting for that top four. "But I think City will hurt Arsenal on more occasions".