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Detroit's Unsold Cars Pile Up
Keywords:
Are bubble type incentives inflating the size of the U.S. auto market in 2012-2013 as happened in the past decade. This could hurt future sales. Japanese automakers have sharply increased incentives to make a come back after the tsunami and earhtquake restricted supplies. U.S. automakers are reluctant to go further down the incentives route that hurt them in the past decade. The result is higher inventories for Detroit automakers, another undesirable result. General Motors had 5 months of Malibu supply at dealers in Nov. 2012 at the current sales rate, Ford 4 months of Fiesta subcompact inventory and 73 days of total inventory overall, Chrysler 6 months of 2013 Dodge Dart inventory. GM has 3 months of Chevy Cruze inventory, and 138 days of Chevy Silverado pickup truck inventory. GM decided to idle one of two plants making the Cruze. In contrast Toyota has 2 months inventory for the Camry and Corolla. The largest incentives in the U.S. market are from Nissan, a 55% jump to average $4,273 in Nov. 2012 from $2,764 in Jan 2012. Honda increased incentives to average $2,428 from $1,978 in Feb. 2012, a 23% increase. Toyota up to average $2,075 in Nov 2012 from $1717 in Jan. 2012, a 21% increase, according to TrueCar.com, with zero percent interest rates not counted in these numbers. Ford offers $2895 off its 2013 Focus sedan, which has 2 months inventory. General Motors offers between $2900 and $3500 in average incentives , according to TrueCar.com.
Marketing push by Japanese automakers including higher incentives and higher inventory levels at U.S. automakers 2012-2014
01/12/2010
Japanese automakers have sharply increased incentives to increase sales after the tsunami. This hits U.S. automakers in a double whammy. Ford, GM and Chrysler benefitted from the impact of reduced supply at dealers of Japanese automakers, now they have to deal with a reversal of that situation as well as higher incentives by the Japanese. About 38% of Toyota sales are at zero percent financing in 2012. U.S. automakers are reluctant to go too far down the incentives road as it has hurt them in the past. The result is higher dealer inventories for U.S. automakers in Dec. 2012, another problem that hurt automakers in the past.
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Was the size of the U.S. car market inflated by bubble type incentives before 2009?
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Was the size of the U.S. car market pushed by all sorts of incentives inflated to unsustainable levels?
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U.S. Car Sales Climbed in June
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As Car Sales Boom Automakers get Smarter about Incentives
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Toyota, Honda, and Nissan after the 2011 earthquake and tsunami in Japan
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Ford Restructuring under Mulally
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BusinessWeek 06/04/2007
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Linked Articles
Toyota Again World's Largest Auto Maker
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Linked Articles
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