Latest news with #ChrisHopson
Yahoo
30-06-2025
- Automotive
- Yahoo
S&P Global Mobility projects moderate U.S. auto sales for June 2025 at 1.27 million units
New light vehicle sales in June expected to maintain pace with the mild result of previous month Battery Electric Vehicle estimated shares for June expected at 7% SOUTHFIELD, Mich., June 30, 2025 /PRNewswire/ -- S&P Global Mobility projects new light vehicle sales volume in June 2025 will reach 1.27 million units. With only 24 selling days for the month, unadjusted volume comparisons would be down compared to June 2024 (26 selling days) and the month-prior (27 selling days in May 2025), absent other impacts. The anticipated June 2025 volume translates to an estimated annual sales pace of 15.6 million units (seasonally adjusted annual rate: SAAR), aligned with the May downshift (15.7M SAAR), as both months declined after the pull-ahead effect evident in the March-April results. "Automakers and consumer alike continue to digest an uneasy and uncertain environment," said Chris Hopson, principal analyst at S&P Global Mobility. "While we saw strong March and April sales levels, June brings a second consecutive month of milder pace for auto demand. New vehicle affordability concerns are expected to worsen in the second half of the year under potential upward pricing adjustments. We see these pressures particularly as inventory subject to tariffs begins to replace pre-tariff product." U.S. Light Vehicle Sales Jun 25 (Est) May 25 Jun 24 Total Light Vehicle Units, NSA 1,272,300 1,466,595 1,309,997In millions, SAAR 15.6 15.7 15.0 Light Truck In millions, SAAR 13.0 13.1 12.3 Passenger Car In millions, SAAR 2.6 2.6 2.7 Source: S&P Global Mobility (Est), U.S. Bureau of Economic Analysis Battery electric vehicle (BEV) sales According to S&P Global Mobility new registration data, estimated share of BEV sales for both May and June is expected around the 7% level as BEV sales growth is moderating and share will be reflective of the stalled conditions for BEV demand. BEV share of sales hit over 8% in January, but fell in February and March, to 7.2% and 7.5%, respectively, before declining to below 7% in April. Continued development of BEV sales remains an assumption in the longer term S&P Global Mobility light vehicle sales forecast, although an unsettled regulatory and incentive policy environment has raised the potential that future growth rates will be more mild. In the immediate term, month-to-month share volatility is anticipated. About S&P Global Mobility At S&P Global Mobility, we provide invaluable insights derived from unmatched automotive data, enabling our customers to anticipate change and make decisions with conviction. Our expertise helps them to optimize their businesses, reach the right consumers, and shape the future of mobility. We open the door to automotive innovation, revealing the buying patterns of today and helping customers plan for the emerging technologies of tomorrow. S&P Global Mobility is a division of S&P Global (NYSE: SPGI). S&P Global is the world's foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help many of the world's leading organizations navigate the economic landscape so they can plan for tomorrow, today. For more information, visit Media Contact:mobilitycomms@ View original content to download multimedia: SOURCE S&P Global Mobility Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Malaysian Reserve
30-06-2025
- Automotive
- Malaysian Reserve
S&P Global Mobility projects moderate U.S. auto sales for June 2025 at 1.27 million units
New light vehicle sales in June expected to maintain pace with the mild result of previous month Battery Electric Vehicle estimated shares for June expected at 7% SOUTHFIELD, Mich., June 30, 2025 /PRNewswire/ — S&P Global Mobility projects new light vehicle sales volume in June 2025 will reach 1.27 million units. With only 24 selling days for the month, unadjusted volume comparisons would be down compared to June 2024 (26 selling days) and the month-prior (27 selling days in May 2025), absent other impacts. The anticipated June 2025 volume translates to an estimated annual sales pace of 15.6 million units (seasonally adjusted annual rate: SAAR), aligned with the May downshift (15.7M SAAR), as both months declined after the pull-ahead effect evident in the March-April results. 'Automakers and consumer alike continue to digest an uneasy and uncertain environment,' said Chris Hopson, principal analyst at S&P Global Mobility. 'While we saw strong March and April sales levels, June brings a second consecutive month of milder pace for auto demand. New vehicle affordability concerns are expected to worsen in the second half of the year under potential upward pricing adjustments. We see these pressures particularly as inventory subject to tariffs begins to replace pre-tariff product.' U.S. Light Vehicle Sales Jun 25 (Est) May 25 Jun 24 Total Light Vehicle Units, NSA 1,272,300 1,466,595 1,309,997 In millions, SAAR 15.6 15.7 15.0 Light Truck In millions, SAAR 13.0 13.1 12.3 Passenger Car In millions, SAAR 2.6 2.6 2.7 Source: S&P Global Mobility (Est), U.S. Bureau of Economic Analysis Battery electric vehicle (BEV) sales According to S&P Global Mobility new registration data, estimated share of BEV sales for both May and June is expected around the 7% level as BEV sales growth is moderating and share will be reflective of the stalled conditions for BEV demand. BEV share of sales hit over 8% in January, but fell in February and March, to 7.2% and 7.5%, respectively, before declining to below 7% in April. Continued development of BEV sales remains an assumption in the longer term S&P Global Mobility light vehicle sales forecast, although an unsettled regulatory and incentive policy environment has raised the potential that future growth rates will be more mild. In the immediate term, month-to-month share volatility is anticipated. About S&P Global Mobility At S&P Global Mobility, we provide invaluable insights derived from unmatched automotive data, enabling our customers to anticipate change and make decisions with conviction. Our expertise helps them to optimize their businesses, reach the right consumers, and shape the future of mobility. We open the door to automotive innovation, revealing the buying patterns of today and helping customers plan for the emerging technologies of tomorrow. S&P Global Mobility is a division of S&P Global (NYSE: SPGI). S&P Global is the world's foremost provider of credit ratings, benchmarks, analytics and workflow solutions in the global capital, commodity and automotive markets. With every one of our offerings, we help many of the world's leading organizations navigate the economic landscape so they can plan for tomorrow, today. For more information, visit Media Contact:mobilitycomms@
Auto Blog
04-06-2025
- Automotive
- Auto Blog
See the Winners and Losers of May's Post-Tariff Sales Rush
Lower inventories played a key role in defining May's auto sales The U.S. light vehicle sales rate dropped to 15.65 million units in May, down from 17.25 million in April and 17.83 million in March, according to Wards Intelligence data. This decline—the largest since the COVID-19 pandemic's onset in April 2020—was partially due to lower auto inventory levels from a March-April sales surge of shoppers trying to beat tariff-related price hikes. May also saw a 10% drop in incentive spending from April, as less inventory reduces dealers' need to offer discounts, rebates, and other special offers. Wards Intelligence forecasts that this sales dynamic will continue through June and into Q3, with automakers generally hesitant to ramp up production and replace inventory amid the ongoing trade war. A Ford F-150 Lightning electric pickup truck is displayed for sale at a Ford dealership on August 21, 2024 in Glendale, California. — Source:'Given the swirling tariff, consumer, and auto inventory conditions, the expected May 2025 auto sales result will likely be the last period this year to post positive growth in year-ago and month-prior comparisons,' said Chris Hopson, principal analyst of S&P Global Mobility. Some of May's top-performing automakers Ford Motor Company reported a 16% U.S. sales increase to 220,959 units in May year-over-year, with positive gains at both Ford and Lincoln. The 2025 Escape was one of Ford's best-sellers in May, with sales catapulting 24% to 17,395 units. Ford's 2024 Explorer saw a 23% sales increase to 20,504 vehicles. Bronco Sport sales rose 46% to 14,472 units, and the Maverick saw a 14% gain to 15,508 deliveries. Hyundai Motor and its affiliate Kia said their combined U.S. vehicle sales rose 6.4% in May from last year but added that their growth was lower in the previous month, according to Korea JoongAng Daily. In addition to selling its 17 millionth vehicle since entering the U.S. market in 1986 and launching Ioniq 9 deliveries, Hyundai's Venue, Elantra N, Santa Fe, Tucson, IONIQ 6, and Palisade reached May total sales records. In May, Hyundai U.S. sales, not including its luxury Genesis brand, rose 8%, its total hybrid sales increased by 5%, and the automaker's electric vehicle (EV) and hybrid lineup had its best month ever. Kia's sales increased 5.1% to 79,007 units from 75,156, thanks to hot-selling models like the Telluride and Sportage SUVs, the Carnival minivan, and the K4 sedan. Signage at a Hyundai dealership in Richmond, California — Source: Getty Final thoughts While most automakers have begun reporting sales figures quarterly instead of monthly, Ford Motor Company and Hyundai Motor sales were better than expected, with Ford thriving on its employee pricing program running through July 6. Still, most countries haven't reached deals with the U.S. on reduced auto tariffs, making price hikes and lower sales all but certain in the coming months. Automakers exporting cars to the U.S. do have some light at the end of the tunnel, as a panel of judges on a federal trade court ruled that many of Trump's sweeping tariffs, including those on vehicles and car parts, exceeded the President's legal authority. A second D.C. federal court also deemed the tariffs illegal, but both rulings are on hold because of appeals.
Miami Herald
04-06-2025
- Automotive
- Miami Herald
See the Winners and Losers of May's Post-Tariff Sales Rush
The U.S. light vehicle sales rate dropped to 15.65 million units in May, down from 17.25 million in April and 17.83 million in March, according to Wards Intelligence data. This decline-the largest since the COVID-19 pandemic's onset in April 2020-was partially due to lower auto inventory levels from a March-April sales surge of shoppers trying to beat tariff-related price hikes. May also saw a 10% drop in incentive spending from April, as less inventory reduces dealers' need to offer discounts, rebates, and other special offers. Wards Intelligence forecasts that this sales dynamic will continue through June and into Q3, with automakers generally hesitant to ramp up production and replace inventory amid the ongoing trade war. "Given the swirling tariff, consumer, and auto inventory conditions, the expected May 2025 auto sales result will likely be the last period this year to post positive growth in year-ago and month-prior comparisons," said Chris Hopson, principal analyst of S&P Global Mobility. Ford Motor Company reported a 16% U.S. sales increase to 220,959 units in May year-over-year, with positive gains at both Ford and Lincoln. The 2025 Escape was one of Ford's best-sellers in May, with sales catapulting 24% to 17,395 units. Ford's 2024 Explorer saw a 23% sales increase to 20,504 vehicles. Bronco Sport sales rose 46% to 14,472 units, and the Maverick saw a 14% gain to 15,508 deliveries. Hyundai Motor and its affiliate Kia said their combined U.S. vehicle sales rose 6.4% in May from last year but added that their growth was lower in the previous month, according to Korea JoongAng Daily. In addition to selling its 17 millionth vehicle since entering the U.S. market in 1986 and launching Ioniq 9 deliveries, Hyundai's Venue, Elantra N, Santa Fe, Tucson, IONIQ 6, and Palisade reached May total sales records. In May, Hyundai U.S. sales, not including its luxury Genesis brand, rose 8%, its total hybrid sales increased by 5%, and the automaker's electric vehicle (EV) and hybrid lineup had its best month ever. Kia's sales increased 5.1% to 79,007 units from 75,156, thanks to hot-selling models like the Telluride and Sportage SUVs, the Carnival minivan, and the K4 sedan. While most automakers have begun reporting sales figures quarterly instead of monthly, Ford Motor Company and Hyundai Motor sales were better than expected, with Ford thriving on its employee pricing program running through July 6. Still, most countries haven't reached deals with the U.S. on reduced auto tariffs, making price hikes and lower sales all but certain in the coming months. Automakers exporting cars to the U.S. do have some light at the end of the tunnel, as a panel of judges on a federal trade court ruled that many of Trump's sweeping tariffs, including those on vehicles and car parts, exceeded the President's legal authority. A second D.C. federal court also deemed the tariffs illegal, but both rulings are on hold because of appeals. Copyright 2025 The Arena Group, Inc. All Rights Reserved.
Miami Herald
29-05-2025
- Automotive
- Miami Herald
Major carmaker cuts 15% of office staff amid tariff uncertainty
Do you remember when you bought your first car? I was ecstatic. It doesn't matter that it was a used car as old as me (and I was 22 at the time), that it would stall when driving through even a small puddle, and that there were all kinds of things not working properly. It was mine. And I bought it. With borrowed money, of course. Related: Ford files shocking $300 million RICO lawsuit A lot has changed since then, but I still love that car, and that brand - Škoda. Everyone has that one favorite car brand. They like it because of the performance, quality, reliability, and design. Brands with a reputation for durability and low maintenance tend to attract customers. People are known to get so attached to one specific car brand that they don't change. Ever. And when their favorite brand is having troubles, it matters. There's no doubt that these are not the best times for the automotive industry. May 2025 U.S. auto sales are expected to reach 1.47 million units, with a seasonally adjusted annual rate (SAAR) of 15.7 million, down from the 17.6 million average in March and April. While the numbers don't reveal any special concerns, S&P Global Mobility analyst Chris Hopson stressed that this may be "the last period this year to post positive growth," citing swirling tariff, consumer, and auto inventory conditions. World-renowned Swedish automaker Volvo Cars announced on May 26 global redundancies, as part of its recently launched cost and cash action plan. The SEK 18 billion (around $1.88 billion) plan includes a reduction of around 3,000 positions including consultants at Volvo Cars' operations around the globe. That's about 15% of the company's total office-based workforce globally. More Automotive: Tesla sales woes mount in Europe amid disappointing updateNissan planning a drastic move to save itself from financial ruinNew DOT rule could worsen trucker shortage, cause delivery delays These layoffs will include about 1,000 consultant positions and around 1,200 office-based positions mostly in Sweden, with the remainder in other countries. "The actions announced today have been difficult decisions, but they are important steps as we build a stronger and even more resilient Volvo Cars," stated CEO Håkan Samuelsson. "The automotive industry is in the middle of a challenging period. To address this, we must improve our cash flow generation and structurally lower our costs. At the same time, we will continue to ensure the development of the talent we need for our ambitious future." The restructuring efforts come at times when the "old-school" automaker is working on delivering its long-term plan to become a fully electric car company. In addition to high competition in the EV industry, Volvo is facing another challenge: U.S. tariff uncertainty. On May 23, President Trump, angered by the drag in the tariff negotiation with the European Union, threatened to raise the tariff rate to 50% starting June 1. However, on May 26, he backed off the threat, agreeing to extend a deadline to negotiate tariffs by more than a month. The popular carmaker, renowned for its focus on safety, makes most of its products in Europe and China, leaving it more exposed to new U.S. tariffs than many of its European competitors. Samuelsson said last week that its customers would have to pay a large portion of tariff-related costs increases, and if levies rise, it could become impractical to import one of its most affordable cars to the U.S., according to Reuters. More precisely, Samuelsson made it clear that a 50% tariff would make it impossible for Volvo to sell its Belgium-made EX30 electric vehicle in the U.S. Last month, Volvo also shared it will no longer provide financial guidance for 2024 and 2025, citing "external development and increased uncertainties." Related: Volvo may say goodbye to a beloved fan-favorite car The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
