Motor Authority - blog Tag: sales

Porsche, the once unassailable leader in the sports car segment, has proven that it's not completely immune from global economic conditions but the brand is at a crossroads and a raft of new models could see it rise to the top once again.

This turn around is being led by the new 2010 Porsche Panamera, which has already racked up 983 firm orders and will allow the automaker to record flat or slightly increased sales this year. This has got to be very good news for Porsche, which is coming off a year that saw sales in the U.S. drop 32% to 14,310 units through September after declining 25% in all of 2008 to 26,035 units.

The information comes...

Porsche, the once unassailable leader in the sports car segment, has proven that it's not completely immune from global economic conditions but the brand is at a crossroads and a raft of new models could see it rise to the top once again. This turn around is being led by the new 2010 Porsche Panamera, which has already racked up 983 firm orders and will allow the automaker to record flat or slightly increased sales this year. This has got to be very good news for Porsche, which is coming off a year that saw sales in the U.S. drop 32% to 14,310 units through September after declining 25% in all of 2008 to 26,035 units. The information comes from Michael Bartsch, COO of Porsche North America, who explained that the Panamera is bringing new customers to the brand and helping boost traffic numbers in showrooms. Porsche expects to sell just 1,000 Panameras this year in the U.S., with an additional 200 being kept as demonstrators. Next year, the automaker plans to sell between 4,000 and 6,000 Panameras in the U.S., accounting for roughly a quarter of worldwide sales. Beyond that, Porsche is planning a handful of new models and updates. These include new hybrid and diesels, as well as the next-generation Cayenne, 911 and Boxster/Cayman models. For a comprehensive rundown of Porsche’s planned model launches, between now and 2012, check out our previous story by clicking here. [Automotive News, sub req’d] Read More

The luxury car market hasn't traditionally had to tempt buyers with anything more than exclusivity, style and power. But with luxury car sales down nearly 32% this year, luxury carmakers are resorting to tactics traditionally reserved for the commodity car brands.

Cash back incentives, low-interest financing and even touting environmental friendliness are all ways of finding customers outside the typical luxury buyer base. Or in some cases, luring a luxury buyer out of shelter from the economic storm and into action.

BMW, for example, is offering interest rates as low as 1.9% on some new models, and has been focusing more heavily on its...

The luxury car market hasn't traditionally had to tempt buyers with anything more than exclusivity, style and power. But with luxury car sales down nearly 32% this year, luxury carmakers are resorting to tactics traditionally reserved for the commodity car brands. Cash back incentives, low-interest financing and even touting environmental friendliness are all ways of finding customers outside the typical luxury buyer base. Or in some cases, luring a luxury buyer out of shelter from the economic storm and into action. BMW, for example, is offering interest rates as low as 1.9% on some new models, and has been focusing more heavily on its certified pre-owned program as well. BMW is also one of the carmakers most concerned with offering a green image, touting its availability of diesels and preparing to introduce its first pair of hybrids to the U.S. in the form of the ActiveHybrid X6 and 7-series. Bentley is also offering very low financing rates--as low as 0.9%--on the $179,000 Continental GT. Porsche is likewise offering deals, but in the form of cash back. Average cash incentives on newly-purchased Porsches for the year through August were $4,412, a rise of 657% from last year, according to the Detroit Free Press. Even Mercedes-Benz is offering low 1.9-2.9% rates and special lease pricing on some of its vehicles, notably the C-Class Sedan, CLK-Class cabrio and CLS-Class four-door coupe. Mercedes is no stranger to diesel or hybrid vehicles either, recently introducing the S400 hybrid sedan to the U.S. to help win eco-conscious buyers that still want a luxury image. The S400 hybrid is, incidentally, the most affordable S-Class as well. The bottom line to all this? If you're in the market, now's a great time to buy. With forecasted slow but steady rises in vehicle sales throughout 2010, these deals will slowly fade away, but in the mean time, there are serious savings to be had. [Detroit Free Press] Read More

Porsche’s new CEO Michael Macht may have just taken over the helm at Porsche, but already he's talking about some big changes in store for Porsche. One near-term goal: to double sales within in the mid to long-term.

Last financial year the automaker’s sales plunged 24% to around 75,200 vehicles. Getting Porsche's sales figures to reach twice their current levels won't be easy, but the recent introduction of the Panamera will almost certainly help the brand reach a broader market. The Cayenne SUV helped move the marque beyond its previous sports-car-only niche, and the Panamera is expected to take that to the next level.

The key,...

Porsche’s new CEO Michael Macht may have just taken over the helm at Porsche, but already he's talking about some big changes in store for Porsche. One near-term goal: to double sales within in the mid to long-term. Last financial year the automaker’s sales plunged 24% to around 75,200 vehicles. Getting Porsche's sales figures to reach twice their current levels won't be easy, but the recent introduction of the Panamera will almost certainly help the brand reach a broader market. The Cayenne SUV helped move the marque beyond its previous sports-car-only niche, and the Panamera is expected to take that to the next level. The key, Macht pointed out during an interview with German newspaper Welt am Sonntag, will be the introduction of new models. Macht explained that with Porsche’s existing lineup of four models, sales approaching the 150,000 mark would mean the brand would have to lose much of its exclusivity. Some of the models on deck to help push sales figures even higher include a rumored roadster positioned below the Boxster, a smaller SUV/crossover to complement the Cayenne and an all-electric vehicle. With the addition of those cars, Porsche would be nearing the status of full-line automaker, as opposed to its traditional role of focused, performance-driven models. That change has many long-time brand supporters up in arms, but the alternative to the Volkswagen tie-up might have been even worse for Porsche, as it was carrying over $9 billion in debt and in danger of insolvency. Losing its independence, as tough as that is, is preferable to ceasing to exist altogether, or even worse, a forced liquidation. Read up on our previous coverage for more on the Porsche-Volkswagen merger and Porsche's potential role under the new corporate umbrella. [Reuters] Read More

Though it's only 20 years old this week, Toyota's Lexus luxury brand has grown with shocking speed to become the best seller in the U.S. But thanks to the downturn in the economy, the gap between Lexus and its closest rival, BMW, has narrowed to just a few thousand cars, and BMW may be on pace to overtake the upstart Japanese brand.

As of August, BMW has sold 129,176 vehicles while Lexus has sold 131,469, according to The Detroit News. That's a huge drop from pre-recession figures of over 300,000 cars per year for Lexus, but as the market has shrunk, BMW has picked up share in the luxury segment, and is now ready to take the title Lexus has...

Though it's only 20 years old this week, Toyota's Lexus luxury brand has grown with shocking speed to become the best seller in the U.S. But thanks to the downturn in the economy, the gap between Lexus and its closest rival, BMW, has narrowed to just a few thousand cars, and BMW may be on pace to overtake the upstart Japanese brand. As of August, BMW has sold 129,176 vehicles while Lexus has sold 131,469, according to The Detroit News. That's a huge drop from pre-recession figures of over 300,000 cars per year for Lexus, but as the market has shrunk, BMW has picked up share in the luxury segment, and is now ready to take the title Lexus has held for the past 9 years. "We're really breathing down Lexus' neck," said BMW North America CEO Jim O'Donnell. In fact, BMW was actually slightly ahead of Lexus through June, but the figures swung back in Lexus' favor in July. BMW's shot at taking down the luxury giant is likely to be short-lived, however. Already signs are beginning to point to a recovery in the economy and the car market, meaning that the demand for luxury cars that has been pushed back over the past year will come bursting forth. As past sales have proved, that demand will likely flow to Lexus, not BMW, but if any of the market share gained during the downturn sticks, BMW's longer-term sales may rise as well. New models - controversial as they may be - like the 5-series GT and the recently-released ActiveHybrid X6 and 7-series could help spur sales further when they hit the market next year. [DetNews] Read More

General Motors and Koenigsegg Group AB, a consortium led by supercar manufacturer Koenigsegg, have officially reached an agreement over the sale of Saab after nearly two decades of American ownership. GM has confirmed today that it has signed a stock purchase agreement with Koenigsegg Group AB regarding the sale of 100% of the shares of Saab.

The deal is expected to conclude in the next months and will then secure Saab’s future, with the Swedish automaker set to exit legal reorganization shortly. The stock purchase agreement will be subject to agreed closing conditions, namely, the guarantee of funding commitments from the Swedish...

General Motors and Koenigsegg Group AB, a consortium led by supercar manufacturer Koenigsegg, have officially reached an agreement over the sale of Saab after nearly two decades of American ownership. GM has confirmed today that it has signed a stock purchase agreement with Koenigsegg Group AB regarding the sale of 100% of the shares of Saab. The deal is expected to conclude in the next months and will then secure Saab’s future, with the Swedish automaker set to exit legal reorganization shortly. The stock purchase agreement will be subject to agreed closing conditions, namely, the guarantee of funding commitments from the Swedish government, as well as transitional assistance from GM. As part of the proposed transaction, GM and Saab will continue to share technology and services during a defined time period, all managed through licenses and service agreements. Koenigsegg co-owner Baard Eker has previously stated that his company has several good solutions to bring into Saab. Strong words coming from a man whose company has less than 50 employees and turns out only a handful of $1 million supercars each year, but with the new funding Saab should be able to successfully launch three new models over the next 18 months and hopefully see the company become an innovator of technology like it had been in the past. The three new models planned include the recently revealed 9-3X as well as the new 9-4X and aforementioned 9-5. Koenigsegg, meanwhile, will reportedly benefit from Saab’s existing production facilities and plans to use the capacity for its upcoming Quant electric supercar. Last year Saab saw its global sales drop 25.5% to just 93,338 units and 2009 is expected to be even lower. The struggling automaker had originally filed for reorganization under Swedish Law on February 20, 2009. Read More

It's already August and the industry isn't expecting to see much more than 10 million sales, but Ford today announced it is up 2% overall and 9% in retail versus a year ago thanks in part to the government's CARS (aka 'cash for clunkers') program. Could this turnaround be the beginning of the industry's as a whole?

The early indicators say yes, but it will remain for the official sales reports to emerge for confirmation. As for Ford, the numbers look solid - for the most part.

Retail sales are up a huge 9% over August of 2008, and marks the first year-on-year sales gain since November 2007 for the company. Ford credits the CARS program and... It's already August and the industry isn't expecting to see much more than 10 million sales, but Ford today announced it is up 2% overall and 9% in retail versus a year ago thanks in part to the government's CARS (aka 'cash for clunkers') program. Could this turnaround be the beginning of the industry's as a whole? The early indicators say yes, but it will remain for the official sales reports to emerge for confirmation. As for Ford, the numbers look solid - for the most part. Retail sales are up a huge 9% over August of 2008, and marks the first year-on-year sales gain since November 2007 for the company. Ford credits the CARS program and its new range of more fuel-efficient vehicles for the jump. Fleet sales brought the overall figure down to a rise of just 2% over November 2007, however - a reflection of the nearly 40% drop in volume from previous years' industry totals to a predicted 10 million or so for 2009. That gives perspective to the rise - it's an important change, but the overall picture is still a smaller one. Leading the way within the company's sales ranks are the Ford Fusion (up 66%), Ford Escape (up 94%), Mercury Milan (up 60%) and Mercury Mariner (up 71%). Not surprisingly, Ford's new hybrid technology has spurred sales rises of 323% for the gas-electric vehicles. Kenz Czubay, Ford's U.S. VP of marketing, sales and service had this to say of the slump-breaking month: “We had another strong month in progress before the ‘Cash for Clunkers’ program started. “Our products, our dealers and our advance preparation enabled us to leverage the program and drive traffic and sales to another level,” he added. “In addition, we achieved a sales increase even though we decreased incentive spending in an increasingly competitive environment.” July also saw the first customer deliveries of the new 2010 Ford Taurus and Transit Connect. Now the waiting for the rest of the industry's reports begins, and with it hope for the future of sales figures and profitability.2010 Ford Fusion Hybrid2010 Ford Transit Connect for USA Read More