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U.S. auto sales in April expected to drop despite big discounts

DETROIT — U.S. auto sales in April likely fell nearly 8 percent from the same month in 2017 despite big discounts for consumers, industry consultants J.D. Power and LMC Automotive said on Thursday. For much of the past two years, the discounts offered by automakers have remained at levels that industry analysts say are unsustainable and unhealthy in the long term. April U.S. new vehicle sales will likely be about 1.31 million units, down from 1.42 million units a year earlier, the consultancies said. The forecast was based on the first 17 selling days of April. Automakers, including Ford and Fiat Chrysler Automobiles, will release April U.S. sales results on May 1. Earlier this month, No. 1 U.S. automaker General Motors said it will stop reporting monthly U.S. sales because the 30-day snapshot does not accurately reflect the market. GM will instead issue quarterly sales reports. U.S. new vehicle sales fell 2 percent in 2017 to 17.23 million units after hitting a record high in 2016. Sales are expected to drop further in 2018 as interest rates rise and more late-model used cars return to dealer lots to compete with new ones. LMC expects full-year 2018 U.S. new vehicle sales to come in at around 17 million units. "Uncertainty and unfavorable factors appear to be mounting for autos, including a volatile stock market, rising interest rates, rising oil prices and potential trade roadblocks," Jeff Schuster, LMC's head of global vehicle forecasts, said in a statement. The seasonally adjusted annualized rate of sales for April will be 16.6 million vehicles, down more than 2 percent from 17 million units in April 2017, the consultancies said. Retail sales to consumers, excluding lower-margin fleet sales to rental agencies, businesses and government, were set to decline about 9 percent in April. The level of consumer discounts, which can erode profit margins and undercut resale values, "remains the larger concern," the consultancies said. The average discount was $3,698, up $187 from April 2017. Discounts on trucks and SUVs were up $426, but down $226 on passenger cars. Reporting by Nick CareyRelated Video: Image Credit: Reuters Earnings/Financials Chrysler Ford GM JD Power

This woman owns the first Ford Mustang sold in the US

As Ford celebrates the 50th anniversary of the Mustang with the unveiling of the all-new sixth-gen design, one Chicago women can lay claim to a piece of Mustang history. According to CBS Chicago, Gail Wise was the first person in the US to buy a Mustang in 1964, and she did so two days before the car was even unveiled to the public.
Wise, then a 22-year-old teacher, went into the Chicago Ford dealership wanting to buy a convertible, and a salesperson ushered her over to car covered by a tarp. That car was a baby blue Mustang convertible, which she still owns today - along with the documentation. After sitting for almost 30 years and undergoing a full restoration, the car now looks to be in original condition. The report says that this $3,400 purchase could be worth anywhere between $100,000 and $250,000. While this worked out well for Mrs. Wise, we wouldn't recommend anyone going into a dark, back room of a dealership hoping to get a jump on the purchase of a 2015 Mustang.
Scroll down to watch the video report.

Ford tweaking Model E dealer program to address dealer concerns

Ford's been working on its strategy and sales reorganization for a couple of years, the initiative that created the Blue (ICE), Pro (commercial), and Model E (electric) divisions. On the Model E side, part of continuous reworking of the EV arm has been in response to dealer lawsuits filed in numerous states, since Model E not only stipulated investments of anywhere from $500,000 to $1.2 million, the automaker initially wanted dealers to set no-haggle pricing, offer remote pickup and delivery for service appointments, and build chargers that would operate around-the-clock. Another big part of the tweaks to Model E is the continually unstable ground the entire electric project is built on. As part of understanding what dealers are facing and how to keep the electric wheels turning, Automotive News reports that the automaker held 11 meetings with dealers this year in six cities. Based on the feedback, more changes are coming to Model E as soon as next month.   During the roadshow, Ford told dealers to pause their investments into getting certified for Model E. This directive followed a corporate change in plans as Ford pulled investments in battery-electrics in favor of consumers' choice for hybrids. The head of Ford Blue — the internal-combustion-powered division that, with Ford Pro, has been paying the bills as Model E posts big losses — told AN, "We don't want them to make any decisions between now and the middle of June, when you can maybe have a more informed decision-making process based off what we work out with council in the next few weeks." One change has already been made public, the VP of EV programs telling an AutoNews business conference audience, “What weÂ’re finding is more dealers want to be involved in it and we donÂ’t want to be exclusive to just a handful, and so weÂ’re making a change where weÂ’re opening up that and not requiring as many certifications or investments for a dealer to participate in the EV revolution." Don't take that comment as a revelation; since the beginning, dealers complained about being excluded and needing to throw so much money at the program. Take that comment as Ford needing to find a better way in the "rapidly changing" environment. The official list of updates won't come until next month, when Ford meets its dealer council, and it should touch on topics beyond EVs.