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Tesla got a carve-out. It’s a good day for auto dealers in the Sunshine State, and not so great for motorists who’d prefer a more direct route for buying a new coupe, sedan or SUV. Gov. Ron DeSantis signed a measure (HB 637) banning most direct-to-consumer vehicle sales, solidifying the future viability of car-selling operations across the Sunshine State. The measure, championed and authored by lobbyists representing the Florida Automobile Dealers Association (FADA), prohibits automakers from selling vehicles directly to buyers.That restriction, which goes into effect July 1, was considered a direct threat to the business model of Tesla, an...

Key Points •The last global economic cycle ended with a housing bust; will the bust in auto sales end this cycle? •Auto sales have crashed, the unsold inventory and delinquent debt may worsen well into 2020. •This auto-led downturn may be less damaging to the global economy than the housing bust was 10 years ago, but automobile manufacturing still accounts for a sizable amount of production, debt, and jobs. In 2009, the world economy was starting to climb out of a housing-led downturn. Ten years later, a downturn in auto production following tumbling car sales is driving a bust in...

DETROIT – March will be one of the most crucial months for the U.S. auto industry in years. Sales were slower than expected in January and February, and the number of unsold cars on dealer lots grew. Some automakers had to resort to juicy discounts to lure reluctant buyers. Most industry executives, dealers and analysts blame the historic cold temperatures and snowfall, and expect warmer weather to restore consumers’ enthusiasm for car buying. Most still expect annual sales to exceed 16.1 million, which would be the highest level since 2006. But a continuation of the trends could signal more fundamental...

Automotive industry continues a slow death. J.D. Power and Associates Reports that U.S. Light-Vehicle Retail Sales in February are down by nearly 38% from one year ago. GM and Chrysler LLC are receiving TARP money from a government bailout. The suppliers for the US auto companies are not getting any assistance. Many are facing a tight cash flow that could force them into bankruptcy. They have high priced materials (like steel) in their supply chains. Many have significant inventories of goods. While car sales have declined 38%, demand for auto parts for some vehicles have declined even more. Almost every...

U.S. light vehicle sales, market share for October Monday November 3, 5:08 pm ET DETROIT, Nov 3 (Reuters) - The following chart represents U.S. light vehicle sales totals, individual automaker results and market share for the month of October. Percent changes are based on the daily sales rate. The seasonally adjusted annual rate is calculated using seasonal factors supplied by the U.S. Commerce Department. INDUSTRY TOTALS . OCTOBER 2003 OCTOBER 2002 % CHG Total Industry 1,305,523 1,302,603 +0.2% Domestic Car 419,458 448,852 -6.5% Domestic Truck 641,108 621,371 +3.2% Import Car 152,279 152,267 +0.0% Import Truck 92,678 80,113 +15.7% Dom+Imp Car...

WSJ.COM WRAP: Ford's US Vehicle Sales Fell 7.9% In March >F A WALL STREET JOURNAL ONLINE NEWS ROUNDUP NEW YORK (Dow Jones)--Ford Motor Co.'s (F) U.S. vehicle sales fell 7.9% in March, with sales of cars dropping 8.3% and sales of trucks declining 7.7%. The Dearborn, Mich., auto maker said Tuesday that total vehicle sales reached 302,463 in March, compared with 328,385 units a year earlier. Car sales fell to 115,321 units from 125,736, while truck sales declined to 187,142 from 202,649. There were 26 selling days in March, compared with 27 days a year earlier. Ford's figures aren't adjusted...

U.S. light vehicle sales, market share for August Wednesday September 3, 4:48 pm ET DETROIT, Sept 3 (Reuters) - The following chart represents U.S. light vehicle sales totals, individual automaker results and market share for the month of August. Percent changes are based on the daily sales rate. The seasonally adjusted annual rate is calculated using seasonal factors supplied by the U.S. Commerce Department. INDUSTRY TOTALS . AUGUST 2003 AUGUST 2002 % CHG Total Industry 1,630,904 1,704,700 -0.8% Domestic Car 536,814 613,578 -9.3% Domestic Truck 763,332 770,077 +2.8% Import Car 204,091 213,896 -1.1% Import Truck 126,667 107,149 +22.6% Dom+Imp Car...