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China auto sales will stagnate for two years, firm predicts
2015-09-05 00:18:31| Auto Dealers - Topix.net
Investment research firm Morningstar is forecasting the Chinese auto industry will stagnate for the next two years before returning to growth. In a Thursday report on European automakers, Morningstar predicted new-vehicle sales in China will fall this year and again in 2016, as a result of the country's economic turmoil and declines in its stock market.
UPDATE 1-Sam's Club jumps into auto sales with TrueCar tie-up
2015-09-04 03:25:38| Auto Dealers - Topix.net
Sam's Club, the warehouse division of Wal-Mart Stores Inc, has tied up with online car-shopping service TrueCar Inc to make a full-fledged foray into auto sales, a fast-growing business for rival Costco Wholesale Corp. Until now Sam's Club had allowed a third-party auto-buying service to market cars through its website but had not operated its own program like Costco, which has quietly grown into one of the biggest players in the industry, selling nearly 400,000 vehicles last year. Sam's Club said on Thursday that its new program would give members access to more than 10,000 TrueCar dealers and guaranteed savings off the manufacturer's suggested retail price for new cars as well as deals on used cars.
Auto sales aid factory order rise
2015-09-03 10:47:07| Auto Dealers - Topix.net
WASHINGTON Orders to U.S. factories posted a modest gain in July, helped by the biggest rise in motor vehicles orders in a year and a solid gain in a category that tracks business investment plans.
El Paso County auto market booming; sales jump by biggest percentage in nearly 2 years
2015-09-03 06:40:24| Auto Dealers - Topix.net
El Paso County's auto market continued to boom in August as new vehicle registrations rose from a year earlier by the biggest percentage in nearly two years, according to a report from the El Paso County Clerk and Recorder's Office. Here's the details from the August report, including what is driving the hot market and what the auto industry is saying about it: - The numbers: New vehicle registrations in August totaled 2,369, up 25.5 percent from August 2014, the biggest percentage increase since November 2013.
Carmakers fret over market turmoil in China, where auto sales largely outpace U.S.
2015-09-03 02:25:24| Auto Dealers - Topix.net
A decade ago, Chinese drivers bought just 6 million cars annually, less than a tenth of the vehicles sold worldwide. By last year, after an explosion of wealth for the middle and upper classes there, they bought almost 24 million vehicles - accounting for more than a quarter of global sales and a huge share of profits for major automakers.
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