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- Lease price points are now available for Jaguar, Mercedes-Benz, Mini, Porsche, Tesla, and Volvo. 7/6/2020
- Lease rates and residual values are now available for Alfa Romeo, Bentley, and Porsche. 7/6/2020
- Incentives are now available for Alfa Romeo, Audi, BMW, Chrysler, Dodge, Fiat, Infiniti, Jeep, Mazda, Ram, and Subaru. 7/6/2020
- Lease price points are now available for Alfa Romeo, Audi, and Land Rover. 7/2/2020
- Incentives are now available for Buick, Cadillac, Chevrolet, GMC, Jaguar, Land Rover, Mini, Porsche, Tesla, and Volvo. 7/2/2020
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The MIS Query tools are now updated with June 2020 New Vehicle Sales, Inventory, Incentives Spending, CPO Sales and SAAR results.
Launched new 2021 K5 with 0.9% special retail financing for up to 48 months, 1.9% for 49-60 months, 2.9% for 61-66 months and 3.9% for 67-72 months or 1.75% for up to 48 months, 2.5% for 49-60 months, 2.75% for 61-66 months, 4.0% for 67-72 months and 4.75% for 73-75 months plus $750 APR bonus cash or a special lease program, featuring an advertised payment of $229/month for 24 months with $2,120 down for a K5 LXS. Effiective 7/3/2020 on K5.
Improved special retail financing rates on 2020 models to 0.9% for up to 60 months and 1.9% for 72 months (from 1.9% - 2.9%) and on 2021 models to 2.99% - 3.49% (from 3.49% - 3.9%). Raised customer cash on 2020 Cooper Clubman , CooperHardtop and CooperCountryman by $500. Switched the flat dealer cash Motor-Bonus program that it was running back to a dealer stairstep program. Extended its first three payments waiver offer and most other programs through 8/2/2020. Effiective 7/1/2020 on all MINI vehicles.
Lowered lease cash on 2020 2-Series and X1 by $500 and on X2 by $250. Raised lease cash on 2020 530 by $250 (to $1,000) and on Z4 30i by $500 (to $2,000). Eliminated the dealer stairstep program that was available in June. Extended most other programs through 8/2/2020. Effiective 7/1/2020 on all BMW division vehicles.
Raised dealer cash on 2020 S-Class Sedan to $5,000 (from $2,500), on 2020 CLS-Class to $2,000 (from $1,000), on 2020 SLC-Class to $1,000 (form $0) and 2020 SL-Class to $3,500 (from $1,500). Increased 2020 S-Class Sedan retail cash to $7,500 (from $5,000). Enhanced lease support on 2020 E-Class Coupe and Cabriolet, lowering their advertised payments by $20/month. Extended 0.0% financing for 36 months and 90-day payment deferral offer, but only on 2020 A-Class , C-Class , E-Class and GLA-Class. Effiective 7/1/2020 on all Mercedes-Benz vehicles.
Launched the division's 21st 'Golden Opportunity Sales Event' featuring a number of enhancements. Increased lease cash on several models, lowering its advertised lease payments by $10/month on 2020 NX / UXh and by $20/month on 2020 RX / ES. Added new and or enhanced APR bonus cash to its existing aggressive 0.0%, 60-month special retail financing offer, $500 on 2020 ES / ESh / UX / UXh / NX / NXh / RC and $1,000 on RXL / RXLh. Raised Lexus Cash retail support by $1,000 on IS / RX / RXh / LC and by $500 on UX / UXh / NX / NXh / RXL / RXLh / GS / RC. Effiective 7/1/2020 on all Lexus vehicles.
- June Incentive Spending Continues Trend of Lower M-O-M, Higher Y-O-Y Numbers
Once again, automakers eased off on U.S. light vehicle incentive spending slightly in June versus the prior month mainly in response to low inventory of in-demand vehicles, particularly pickup trucks. Motor Intelligence estimates that spending averaged $4,090/unit in June 2020, down 2.0% from May 2020, but still 6.9% or $445/unit higher than June 2019. Looking forward, incentive spending is typically flat to slightly higher from June to July. We expect that trend to continue this year. As automakers ramp up production and inventory levels begin to climb we may see spending begin to rise month-over-month once again towards the end of 2020. Motor Intelligence on 07/02/2020
- Recovery in Wholesale Pricing is a Positive Sign for June Sales
In its recent "COVID-19 Market Update" the used vehicle pricing authority Black Book stated that used vehicle wholesale prices experienced their largest single week jump in recent history. Such a dramatic recovery in used vehicle prices as the country reopens is a sign that light vehicle demand is slowly returning to normal. This is a positive sign for June new and used vehicle sales. It also indicates that new and used vehicle inventory levels at dealers are still tight, creating less need for an increase in manufacturer incentives until production can fully ramp back up. Motor Intelligence on 06/24/2020
- Drop in Miles Driven Could Have Lasting Ramifications for Auto Industry
The U.S. Department of Transportation Federal Highway Administration recently estimated that the number of miles driven by Americans dropped by a staggering 41.2% year-over-year in April 2020. Clearly as the country opens back up, that number will begin to normalize. However, the question remains...what will the "new normal" look like for consumer driving habits? A significant number of companies implemented work from home policies during the Pandemic. Some of these companies are using this as a trial for possibly expanding their work from home policies on a more permanent basis. Work from home provides a number of benefits for corporations, including a reduction in office space expenses and an expanded talent pool. While this policy benefits many companies, it could have a negative impact on the auto sector. Shorter term, fewer miles driven by vehicle owners means less maintenance and service revenue for dealership service departments. Longer term, fewer miles driven could eventually have an impact upon new vehicle sales as cars and trucks with fewer miles last longer. Looking forward, this could lead to an interesting tug of war between a reduction in miles driven causing vehicles to last longer and the other recent trends of a drop in ride-sharing and an exodus from major cities spurring new vehicle demand. Theoretically, this would create a tailwind for new vehicle sales in the short run and a headwind down the road. Motor Intelligence on 06/23/2020
- Incentive Spending Drops Slightly Month-Over-Month
Automakers eased off on U.S. light vehicle incentive spending slightly in May as the country slowly begins to emerge from the COVID-19 pandemic lockdown. Motor Intelligence estimates that spending averaged $4,168/unit in May 2020, down 3.0% from April 2020, but still up 11.7% or $433/unit from May 2019. Looking ahead, traditionally incentive spending in June is slightly higher than May, but stronger than expected May retail new vehicle sales may cause spending to be flat to slightly lower in June. Motor Intelligence on 06/02/2020
- Signs Point to a Drop in Support for Full-Size Pickups in June
Continued strong sales of full-size pickups during the current pandemic have created low inventory levels in the segment. General Motors had planned to address the situation by adding additional shifts at its truck factories, but parts shortages from Mexico are thwarting this plan. GM recently launched a rain check program that enables consumers to lock in the current attractive cash and retail financing incentives on the Chevrolet Silverado 1500 and GMC Sierra 1500. This move may be an indication that the company plans to reduce its incentives for vehicles in the segment in June. General Motors often sets the pace for auto industry incentives, so if it cuts back on pickup support other companies may follow suit. This will be something to keep an eye on when manufacturers launch their June incentives on 6/2. Motor Intelligence on 05/26/2020
- Desperate dealers see vehicles trickling in
Nationwide plant shutdowns from mid-March to mid-May wiped out many dealers' inventories. Rebounding de- mand, combined with that loss of production, has reduced inventory levels to the lowest the industry has seen in nearly nine years... Automotive News on 07/06/2020
- Automakers laud U.S. consumer 'resilience' despite COVID-19 hit to sales
Major automakers posted lower U.S. monthly or quarterly new vehicle sales on Wednesday due in large part to weak fleet orders, but said consumer demand remained robust despite the ongoing coronavirus pandemic. Reuters on 07/01/2020
- June used-car retail sales show improvement
Overall, ALG was projecting 2,719,074 used-vehicle sales for June. That’s a 20% decline from June 2019 but a 16% uptick from May. “While used-vehicle sales were initially hit harder than new vehicles due to COVID-19 impact, we expect that trend to reverse itself now due to new car inventory shortfalls. Auto Remarketing on 07/01/2020
- Reflecting toll of COVID-19, FCA, GM sales drop by a third, portending uncertain recovery
New vehicle sales for two of Detroit's automakers dropped by about a third in the second quarter, reflecting the coronavirus pandemic's toll on the auto industry. Results could have been much worse, analysts say, even as they express concerns that market conditions could deteriorate again in coming months. The Detroit News on 07/01/2020
- New NAFTA takes effect amid carmaker COVID-19 recovery
On Wednesday, the trade rules by which automakers have played since 1994 will be replaced by a new pact requiring automakers to produce cars with 75% of parts originating from the United States, Canada or Mexico — up from 62.5% — within five years to qualify for duty-free treatment. The Detroit News on 06/30/2020
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