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- Lease rates and residual values are now available for Jaguar, Land Rover, and Lexus. 8/7/2020
- Lease price points are now available for Buick, GMC, Hyundai, Jaguar, Land Rover, Lexus, Maserati, Mazda, Mitsubishi, Nissan, Porsche, Tesla, Volkswagen,and Volvo. 8/7/2020
- Incentives are now available for BMW. 8/7/2020
- Lease price points are now available for Alfa Romeo, Audi, Cadillac, Genesis, Kia, Mercedes-Benz, and Volkswagen. 8/6/2020
- Incentives are now available for Audi, Chevrolet, Hyundai, Lexus, Mini, Mitsubishi, and Tesla. 8/6/2020
- Lease price points are now available for BMW and Infiniti. 8/5/2020
- Incentives are now available for Acura, Bentley, Buick, Cadillac, GMC, Genesis, Honda, Infiniti, Jaguar, Land Rover, Mercedes-Benz, Porsche, Volkswagen, and Volvo. 8/5/2020
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- U.S. New & Preowned Vehicle Retail Sales & Stock
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The MIS Query tools have been updated with Final New Vehicle Sales, CPO Vehicle Sales, Inventory, Incentives Spending and SAAR results for July 2020.
Enhanced 2020 Camry special retail financing rates to 0.0% for up to 60 months and 2.9% for 72 months in a number of regions(from 1.9% - 2.9%). Improved 2020 Corolla special retail financing rates to 0.0% for up to 60 months and 1.9% for 72 months in a number of regions (from 1.9% - 2.9%). Enhanced 2020 Highlander special retail financing, lowering its special rates by 1% in several regions. Boosted 2020 RAV4 customer cash to $1,500 - $1,750 in select regions (from $1,000 - $1,500). Launched 2021 Avalon with $750 customer cash. Increased 2021 Corolla customer cash to $750 (from $500). Upped 2020 Camry and Camry Hybrid customer cash by $250 - $500 in several regions. Raised 2020 C-HR customer cash to $2,000 in its Central Atlantic region (from $1,750). Launched the new 2021 Venza with $500 TFS standard rate cash in select regions. Lowered 2020 4Runner customer cash to $1,000 (from $1,500) in a number of areas. Extended most other special offers through 8/31/2020. Effiective 8/4/2020 on all Toyota division vehicles.
Raised 60-month special retail financing rate to 0.9% (from 0.0%) on 2020 Sentra and Altima , offset by an increase of $250 in their APR bonus cash. Increased customer cash on 2020 Altima by $250 (to $2,250) and 2020 Kicks by $750 (to $2,000). Improved 2020 Frontier special retail financing offer to 0.0% for up to 60 months and 0.9% for 72 months and customer cash to $1,500 (from 0.9% for 60 mo., 1.9% for 72 mo. and $1,000). Extended most other incentive programs through 9/8/2020. Effiective 8/4/2020 on all Nissan division vehicles.
Extended most offers, including its owner loyalty cash which was significantly enhanced in mid-July, through 8/31/2020. Effiective 8/1/2020 on all Mitsubishi vehicles.
Raised 2020 Cooper Countryman customer cash by $500 (to $1,500 - $2,000). Launched 2021 Cooper Clubman and Cooper Countryman with 2.99% special retail financing for up to 60 months or a special lease program. Extended most other promotions through 8/31/2020. Effiective 8/3/2020 on all MINI vehicles.
Raised 2020 S-Class dealer cash to $6,000 (from $5,000). Added $1,000 dealer cash on 2020 E-Class Coupe. Launched 2021 GLA-Class with $500 dealer cash. Improved special lease programs several models, lowering its advertised payments by $10/month on C 63W / GLS 450W4 / GLS580W4, $20/month on E53W4 / GLE 53W4 / GLE53C4 and $30/month on E-Class Coupe. Lowered 2020 S-Class Sedan lease loyalty cash to $1,000 (from $4,000). Extended all other special offers through 8/31/2020. Effiective 8/1/2020 on all Mercedes-Benz vehicles.
- U.S. Certified Pre-Owned Vehicle Sales Rise in July 2020
Certified Pre-Owned vehicle sales continued their upward trajectory in July 2020 with an estimated 254,982 units sold in the United States, up 7.8% from July 2019. Despite the gain in July, CPO sales are still down 8.8% year-to-date. During the month Acura, Subaru and Toyota all posted new all-time highs. Off-lease returns, which stalled in March and April, are accelerating as extensions expire, building supply. The lack of new vehicle inventory has created strong demand for used vehicles. Motor Intelligence on 08/04/2020
- Dwindling Dealer Inventory Causes Manufacturers to Cut Back on Incentive Spending in July 2020
The recovery in U.S. light vehicle sales following the first wave of the pandemic has caused new and used vehicle dealer inventory to become very tight as manufacturers scramble to replenish it. Motor Intelligence estimates that new vehicle incentive spending averaged $3,987/unit in July 2020, 4.5% lower than June 2020, but still 4.2% or $161/unit higher than July 2019. Despite the cutback by automakers, incentive spending set a July record. This increased spending on incentives was offset by higher vehicle pricing, caused by MSRP hikes and a continued shift in mix from cars towards light trucks. Seasonally, incentive spending is typically fairly flat in the late summer period. Barring any major COVID-related shutdowns, manufacturers should able to replenish dealer inventory by the end of the year. If that happens, we expect incentives to rise they typically do in November and December. Motor Intelligence on 08/03/2020
- Certified Pre-Owned Vehicle Sales Soar in June
The CPO daily selling rate was 10,463 in June 2020, the highest ever and the first time over 10,000. June CPO sales were the 2nd highest in history at an estimated 261,586 units following March 2019's 265,881. While quarterly sales were adversely affected by the pandemic, several brands still hit new all-time highs, including Audi, Fiat, Maserati, Mazda, Porsche, Subaru, Volkswagen and Toyota (near-new high). CPO sales benefited from low new-car inventory levels due to production cuts, attractive CPO financing offers, pent-up demand and government stimulus checks. Used car inventories likely increased as new vehicle lease extensions from March and April expired and some near-new 2019 vehicles were converted into used car inventory. Motor Intelligence on 07/16/2020
- 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
- Auto-Lending Binge Threatens to Unwind When Stimulus Measures Ease
A decadelong boom in auto lending threatens to unravel as payment deferrals end while unemployment remains high and stimulus measures fade. Borrowing for cars, trucks and SUVs rose more than 90% in the past decade, faster than all other types of borrowing except student loans, according to the Federal Reserve Bank of New York. Going into the downturn, auto debt outstanding was at a record $1.35 trillion and loan balances had never been higher. There were signs of trouble even before the crisis hit. According to the New York Fed, 5.1% of car loan balances were 90 or more days delinquent in the first quarter, only slightly below the peak of 5.3% in the financial crisis... The Wall Street Journal on 08/07/2020
- Auto Sales Down 33.7% During Q2 Despite Improved Climate
U.S. auto sales have been hammered since the coronavirus pandemic hit the country in late February and early March. After tough results in March and April, the market has slowly begun to bounce back, offering encouragement to automakers and the industry and leading them to revise some sales forecasts to brighter numbers than originally predicted... The Detroit Bureau on 08/07/2020
- Cadillac proclaims its future with Thursday debut of all-electric Lyriq
Cadillac is turning to its next chapter as an electric-vehicle brand with the debut of the 2022 Cadillac Lyriq crossover. The battery-powered Lyriq, Cadillac's first all-electric vehicle, will debut online Thursday night. Although the Lyriq is not expected to hit showrooms until sometime in 2022, it marks the beginning of Cadillac’s dive into electrics. General Motors Co.'s stated goal is to sell more Cadillacs with rechargeable batteries than gas tanks by 2030... The Detroit News on 08/06/2020
- Cheap Cars Disappear, Relegating Entry-Level Buyers to Used
Automakers have a message for entry-level buyers: Head to the used-car lot. Honda Motor Co. became the latest manufacturer to abandon subcompacts last month when it announced plans to discontinue its low-end Fit hatchback in the U.S. General Motors Co. has dropped the Chevrolet Sonic, and Toyota Motor Corp. said it will stop U.S. sales of its Yaris. All three of these vehicles’ base models carry sticker prices less than $20,000 -- among the most affordable new cars... Bloomberg on 08/06/2020
- Intent to buy used stabilizes while new-car intent weakens, study finds
Amid economic uncertainty from COVID-19, American consumers are more hesitant to buy or lease a vehicle since the outbreak began. Used-vehicle consideration remains down compared with pre-pandemic levels, but it is stabilizing, while new-vehicle intent is decreasing, according to a study by McKinsey & Co... Automotive News on 08/05/2020
- Audi cuts price of E-tron by $8,800, improves range
Audi has cut the entry price of its first battery-electric crossover, the E-tron, by $8,800 for the 2021 model year as the German luxury brand begins expanding its EV lineup while facing criticism that the E-tron's range is significantly less than rival Tesla... Automotive News on 08/05/2020
- July Vehicle Sales Improve for Third Consecutive Month
New light-vehicle sales improved for the third consecutive month in July. The July SAAR totaled 14.5 million units, a decline of 14.4% compared with July 2019 but up from the SAAR of 13.1 million units for June 2020. In terms of raw volume, July sales were up by just over 120,000 units from June. And through the first seven months of the year, new light-vehicle sales were off by 22.1% compared with the same period in 2019. American consumers continue to choose light-trucks over cars, with light trucks representing 76% of all vehicles sold in July and 75.4% of all new vehicles sold so far this year. NADA on 08/04/2020
- Pandemic revs up race for U.S. online car sales
After years of being part of a future that never quite arrived, the coronavirus pandemic has put U.S. online car sellers on the map. Now comes a race to spend vast sums on digital commerce platforms specifically designed to handle auto sales. Without deep pockets, many startups and others trying to join the online game will likely be left in the dust... Reuters on 08/03/2020
- Used-Car Dealers Really, Really Want to Buy Your Vehicle
A shortage of inventory, along with higher demand, has used-car salespeople asking what it will take to get you out of your ride The Wall Street Journal on 08/03/2020
- Detroit’s Three Automakers Adding More Trucks, SUVs
Detroit’s three automakers are stepping up their concentration on trucks and SUVs during the second half of 2020 even as the COVID-19 pandemic lingers and electric vehicles absorb an increasing share of their capital spending... The Detroit Bureau on 08/03/2020
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