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November U.S. new car sales mixed as automakers deepen discounts

DETROIT — Major automakers posted mixed U.S. November new vehicle sales on Friday and predicted a competitive December as they rushed to sell vehicles and boost their numbers before 2017 ends. Automakers are trying to sell down 2017 model-year vehicles, offering high discounts to consumers as the year-end nears. In 2016, the industry reported record annual sales of 17.55 million units. According to consultancies J.D. Power and LMC, discounts have been above 10 percent of the average transaction price for 16 of the past 17 months, a level experts say is unhealthy and unsustainable. The November sales results come as the National Automobile Dealers Association said on Friday it expects new vehicle sales to decline to 16.7 million units in 2018, after dropping to 17.1 million for the full year in 2017. If that forecast comes true, the race to move new vehicles off dealers' lots will only intensify next year. Brandon Mason, a director at PwC's automotive practice, said a worrying trend for the industry was a rising number of subprime loans. He said subprime levels are at just over 20 percent of originations, against more than 30 percent prior to the Great Recession, but recent increases remain a concern. "That's a bit of a red flag," Mason said. "It's something to keep an eye on as we move into 2018." November results by automaker: General Motors: Sales fell 2.9 percent, with sales to consumers flat against the same month in 2016. Much of the decrease was driven by lower fleet sales. GM said strong SUV and crossover sales pushed its average transaction price for the month above $37,000 for the first time. The level of unsold cars, which has been a concern for analysts and the industry, rose slightly to 83 days' supply, from 80 days at the end of October. "More vehicles are sold in December than any other month, and we are very well positioned because we have momentum in so many segments, but especially in crossovers," said Kurt McNeil, U.S. vice president of sales operations. Fiat Chrysler Automobiles: Fleet sales are low-margin, and FCA in particular has targeted a significant reduction in this type of sale in 2017. It posted a 4 percent overall decrease in sales for November, but fleet sales were down 25 percent while sales to consumers were up 2 percent on the year. Ford: The No. 2 U.S. automaker reported a 6.7 percent increase for the month, with fleet sales up nearly 26 percent and retail sales 1.3 percent higher than in November 2016.

Mercedes, Renault-Nissan to work together on truck project

Just a few weeks ago, Mercedes-Benz barged into the automotive world with news of a pickup as a mysterious but enticing future model from the German brand. Rumors of a possible collaboration with Nissan followed, but Renault-Nissan Alliance CEO Carlos Ghosn refused to give any clear details. That speculation is now over, because the automakers made their truck partnership official. This new information reveals that the Mercedes truck won't be a full in-house creation from Daimler. For example, the pickup will share some of its underpinnings with the latest Nissan NP300 Navara. The German company's engineers, however, will work to change the design to their liking. Also, as in the rendering, Mercedes will use a double-cab body for the model. "Thanks to our well-established partnership with the Renault-Nissan Alliance, we are able to drastically reduce the time and cost to enter this key segment." Daimler Chairman Dr. Dieter Zetsche said in the company's release. Nissan will play a further major role in the project by helping Renault develop a pickup based on the Navara as well. By 2020, all three trucks will be built together in Cordoba, Argentina, for Latin American markets and in Barcelona, Spain, for other parts of the world. Mercedes will target both regular customers and commercial buyers with its truck. While still not officially slated for North America, there's a chance that the Mercedes truck might be sold here. The US arm of the company reportedly has until the end of the year to decide to offer it with some added luxury-oriented upgrades compared to the rest of the world. Daimler & Renault-Nissan Alliance expand cooperation to 1-ton pickup trucks April 07, 2015 Daimler & Renault-Nissan Alliance expand cooperation to 1-ton pickup trucks Nissan and Daimler to jointly develop midsize pickup truck Mercedes-Benz pickup to share some of the architecture with the all-new Nissan NP300 Mercedes-Benz vehicle to be engineered and designed by Daimler to meet specific needs of its customers Mercedes-Benz pickup will target Europe, Australia, South Africa and Latin America Pickup trucks to be built in Barcelona, Spain, and Cordoba, Argentina Latest milestone in the five-year strategic cooperation between Daimler and the Renault-Nissan Alliance STUTTGART/PARIS/YOKOHAMA –The Renault-Nissan Alliance and Daimler AG will expand their five-year strategic cooperation into the pickup truck segment.

Nissan, Toyota offering payment deferments to people affected by government shutdown

Two weeks into the budget-related government shutdown and it sounds like some progress is finally being made, but that doesn't really help furloughed government employees pay their bills. To help out a little, Nissan and Toyota are joining Hyundai with offering payment deferments to current owners and lessees.
In a release, a Nissan spokesperson said the company is "sympathetic to any of our customers who find themselves in difficult financial circumstances - many times outside of their control."
Both Japanese automakers are allowing payment extensions of up to 90 days without penalties or fees. Unlike the Hyundai Assurance Plan, though, it doesn't seem like the Nissan or Toyota assistance will be extended to those who are still in the buying process. Scroll down for press releases from both companies about their respective payment deferment programs.