The buzz around the North American International Auto Show in Detroit this week hit a positive pitch not heard since the global economic crisis gutted the industry a few years back.
The Financial Post Scott Deveau was in Detroit for the event talking to the movers and shakers of the global vehicle industry — from Chrysler’s charismatic Sergio Marchionne on the return of Alfa Romeo 2 to North America to Detroit’s Big Three lamenting the high cost of production in Canada.
Now that we’re almost halfway through 2013, markets are beginning to shift into gear for the 2014 season — particularly auto manufacturers, who begin the launches of their 2014 model lines towards the end of 2013.
LONDON — Europe’s enduring economic slump has left its auto industry hurting with sagging sales forcing prices down and inventory up, even after thousands of factory jobs have been cut.
Mid-level manufacturers such as Renault and Fiat are struggling, with PSA Peugeot Citroën in February reporting a record 2012 loss of $6.5 billion. Higher-end companies are, however, faring somewhat better.
The big auto makers are announcing their December sales stats. Chrysler just reported that sales climbed 5.7% to 161,007 units. This missed analysts expectation for an 8.4% gain. Analysts predict total sales came in at an annualized pace of 16.00 million units, down from 16.31 million in November.
US and other auto manufacturers banking on increased car sales in China for 2012 have three reasons to be concerned.
Blistering growth in Chinese auto sales is expected to plunge
China is taking efforts to dampen foreign investment in autos
The Wall Street Journal reports
The number of Sirius XM’s (NASDAQ:SIRI) automotive subscribers has been rising consistently over the past few years led by an increase in light vehicle sales in the U.S. as well as new vehicle penetration. We recently wrote how strong automobile sales have helped Sirius XM increase its subscriber growth by 9% year-over year (y-o-y) in Q1 2011.