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Experts from consulting companies JD Power and LMC Automotive expect car sales in the United States in May to be about 1.56 million units, down 2.1% from a year earlier. At the same time, retail sales of new cars, according to their estimates, will decrease by 3.1% to 1 million 226.8 thousand cars. Despite the record high level of consumer sentiment, increased prices for cars weakened the demand for them. It is expected that in May, prices for new cars will reach a monthly maximum level, having risen by more than 4% in annual terms. To increase sales, automakers offer big discounts, the size of which has increased compared to last year. At the same time, dealers have noted strong growth in sales of used cars. Experts believe that automakers will be able to solve the problem of high levels of stocks only by reducing production or higher incentives.
On Tuesday, Tesla Inc.’s (TSLA.O) Chief Executive Officer Elon Musk announced that the automotive company would start to open its licensing software to supply powertrains and batteries for other car manufacturers. “Tesla is open ...
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...
The reimplementation of virus-related lockdowns in some states dragged the U.S. economic outlook in the past month, according to economists in a Reuters poll who also warned that the monitored rebound in employment may reverse by the end of ...
Backed by record-low mortgage rates, U.S. home sales reached its strongest record in June. However, the outlook for the housing market remained murky as low inventory and high unemployment rate pressed amid the virus crisis. Existing home ...
Japan's industrial output is expected to recover in June from a double-digit decline in May amid hopes that factory activity may have reached its lowest due to the coronavirus pandemic, according to a Reuters’ poll of 13 economists. While ...
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