2002 Toyota L Package on 2040-cars

Auto blog

Auto execs surveyed say VW, BMW most likely to grow

A new survey of top global automotive executives indicates both Volkswagen and BMW are the most likely to grow their market share over the next five years.
Tax advisory firm KPMG LLP has released its 14th annual Global Automotive Executive Survey, which includes responses from over 200 executives. A total of 81 percent of respondents said they expect to see Volkswagen make gains, compared to 70 percent last year. BMW, meanwhile, saw 70 percent of those surveyed say they believe the company will increase its market share. That's a jump of 7 percentage points over last year. This is the first time in the history of the survey that BMW has claimed the second-place spot.
Meanwhile, Hyundai has seen its perceived market share potential slacken for the third year in a row. Around 61 percent of those surveyed predicted gains for Hyundai, down from 63 in 2012. Toyota also has a surprising year, but for just the opposite reason. While the manufacturer had slipped in ranking since 2011, it enjoyed the largest increase of any company in the 2013 survey, jumping to 68 percent from 44 percent last year.

Mixed sales results, but automaker stocks rise on need for cars in Houston

DETROIT — The Big Three Detroit automakers on Friday reported better-than-expected August sales and issued optimistic outlooks for demand as residents of the Houston area replace flood-damaged cars and trucks after Hurricane Harvey, sending their stocks higher. General Motors, Ford and Fiat Chrysler posted mixed August U.S. sales, with GM up 7.5 percent and Ford and Fiat Chrysler down. Japanese automaker Toyota improved sales by nearly 7 percent, while Honda fell 2.4 percent. Still, analysts focused on the potential for Detroit automakers to cut inventories and stabilize used vehicle prices as residents of Houston, the fourth largest city in the United States, are forced to replace tens of thousands, perhaps hundreds of thousands, of vehicles after the devastation from Hurricane Harvey. Mark LaNeve, Ford's U.S. sales chief, told analysts on Friday that following Hurricane Katrina in 2005 "we saw a very dramatic snapback" in demand. That said, Ford sales fell 2.1 percent in August. It sold 209,897 vehicles in the United States, compared with 214,482 a year earlier. Sales were down 1.9 percent in the Ford division and off 5.8 percent at Lincoln. Demand was down for cars, crossovers and SUVs. It was not clear how many vehicles in the Houston area will be scrapped, LaNeve said, saying he had seen estimates ranging from 200,000 to 400,000 to 1 million. Ford's Houston dealers may have lost fewer than 5,000 vehicles in inventory, he said. Ford is the No. 1 automaker in the Houston market, with 18 percent share, according to IHS Markit. The company plans to ship used vehicles to Houston dealers and has "every indication we would have to add some production" of new vehicles to meet demand, LaNeve said. Investor concerns about inventories of unsold vehicles and falling used car prices have weighed on Detroit automakers' shares most of this year. Now, automakers can anticipate a jolt of demand from a big market that is a stronghold for Detroit brand trucks and SUVs. "It's got to be a positive for the industry," LaNeve said. Investors appeared to agree. GM shares rose as much as 3.3 percent to their highest since early March. Ford increased 2.8 percent at $11.34, and Fiat Chrysler's U.S.-traded shares were up 5.2 percent $15.91, hitting their highest in more than five years. GM reported a 7.5 percent increase in U.S. auto sales in August, helped by robust sales of crossovers across its four brands.

Alonso can do full WEC season after date changed to avoid F1 race

McLaren Formula One driver Fernando Alonso can compete for Toyota in every round of the World Endurance Championship this season after organizers moved the Japanese event to avoid a U.S. Grand Prix clash. They announced at a presentation in Paris on Friday that the Six Hours of Fuji had been brought forward to Oct. 14, ensuring that the Spaniard can feature for Toyota at the manufacturer's home track. Alonso wants to win the Le Mans 24 Hours endurance race in France as part of the "triple crown of motorsport" achieved only by the late Briton Graham Hill. Hill, like Alonso a two-times Formula One world champion, won Le Mans, the Monaco Grand Prix and the Indianapolis 500 in the 1960s and early 1970s. Toyota announced last month that Alonso, whose main focus remains Formula One, would be racing all the rounds of the endurance season that did not clash with his McLaren commitments. The Fuji race had originally been pushed back a week to Oct. 21 to avoid a clash with the IMSA Petit Le Mans round at Road Atlanta in the United States. The eight round 2018-19 WEC "super season" includes two editions of Le Mans as a move towards a championship that will start in the European summer and end with the French endurance classic. The top LMP1 category will have 10 cars, with Toyota the only factory team following the departure of reigning champions Porsche. Alonso will share a car with Switzerland's Sebastien Buemi and Japanese Kazuki Nakajima, both former F1 drivers. Reporting by Alan Baldwin Related Video: