Carmageddon: Hyundai Gets Crushed, as Others Struggle

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Thread: Carmageddon: Hyundai Gets Crushed, as Others Struggle

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    Carmageddon: Hyundai Gets Crushed, as Others Struggle

    Link to WolfStreet Article

    Haunting Photos of #Carmageddon: Hyundai Gets Crushed, as GM, Ford, Others Struggle
    by Wolf Richter • Jun 2, 2017

    Industry experts had lowered their forecasts for May auto sales, having been overoptimistic every month this year, always figuring that there would be a year-over-year sales increase, when in fact sales fell every month. So for May, they became practically gloomy, but not gloomy enough.

    J.D. Power and LMC Automotive forecast that new vehicle sales in May would inch up 0.5% year-over-year to 1.54 million cars and light trucks. Edmunds predicted that sales would edge up 0.3% to 1.53 million units. And Kelley Blue Book forecast that sales would be essentially flat year-over-year at 1.525 million:And this is what the industry got:

    Total new vehicle sales fell 0.5% in May to 1.519 million light cars and trucks, according to Autodata (number of vehicles sold and delivered by dealers to their customers, or delivered by automakers to their large fleet customers).
    The fifth month in a row of year-over-year declines.
    Year-to-date sales are down 2%.
    New car sales plunged 9.3% to 548,000 and are down 11% year-to-date.
    New truck sales rose 6% to 935,170 and are up 4.7% year-to-date. After the April disaster for pickups, Chevy dealers offered discounts of $12,000 on Silverado pickups and Ford dealers offered discounts of $10,000 or more on 2017 model-year F-series pickups and over $14,000 on 2016 F-series pickups – which shows just how fat profit margins are on pickups.
    The Seasonally Adjusted Annual Rate of sales (SAAR) in May fell 3% year-over-year, to 16.66 million light cars and trucks, the third month in a row below the 17-million mark.
    The 71 days’ supply of unsold vehicles on dealer lots was the highest since July of collapse-year 2009.
    Even the highest incentives for any May, estimated at nearly $3,600 per unit sold, could not stem the sales declines.

    GM sales fell 1.4% to 237,156 vehicles, with car sales plunging 11.5% and light truck sales rising 3.1%. Fleet sales made up 19% of its total sales. Its inventories on dealer lots rose to 963,448 vehicles (from 935,758 in April), the highest since November 2007, at the eve of the collapse of the US auto industry. Days’ supply reached a dreadful 101 days.

    Ford sales rose 2.3% to 240,250, with car sales down 10% and truck sales up 7.3%, after a massive surge in fleet sales (rental car companies and other fleets) that reached 34% of total sales, which is huge. Powered by these fleet sales, Ford edged past GM. Its inventory on dealer lots fell to 59 days’ supply, which is about normal.Winners among the other large automakers:

    Honda sales rose 0.9% to 148,414; cars down 3.6%, trucks up 5.9%.
    Nissan sales rose 3.0% to 137,471; cars down 10.1%, trucks up 18.5%.
    Subaru sales jumped 12.1% to 56.135, with car sales surging 20% (!) to 31,605.
    Volkswagen Group sales (Volkswagen, Audi, Bentley, Lamborghini) rose 3.8% to 49,525.

    And the losers:

    Toyota sales fell 0.5% to 218,248; cars plunged 13.8%, trucks jumped 12.4%.
    Fiat Chrysler sales down 0.9% to 193,040; cars plunged 24.3%; trucks up 3.9%. As an aside, Fiat sales dropped 16% to just 2,670 units.
    Kia sales (which is part-owned by Hyundai) down 7%, to 58,507.
    Daimler sales (Mercedes-Benz, Maybach, Smart) down 7% to 30,290.
    BMW sales (BMW, Mini, Rolls Royce) down 11% to 29,987, but Rolls sales surged 49% to a phenomenal 109 units.
    Mazda sales fell 8.1% to 26,047, as car sales plunged 33.7% and truck sales rose 26%.

    And then there’s Hyundai! See the rest of the article at the link
    Last edited by Mingo; 06-26-2017 at 01:56 PM.

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    Re: Carmageddon: Hyundai Gets Crushed, as Others Struggle

    "Site can't be reached."

    Thanks for the tease. So what up with Hyundaiiii!!?

    And to quote my Heroine For The Ages, "What difference does it make?"
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    Re: Carmageddon: Hyundai Gets Crushed, as Others Struggle

    http://www.autoguide.com/index.html The story on poor Hyundai being on the bottom of AutoGuide's list is disconcerting to say the least.

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    Re: Carmageddon: Hyundai Gets Crushed, as Others Struggle

    Quote Originally Posted by Neanderthal View Post
    "Site can't be reached."

    Thanks for the tease. So what up with Hyundaiiii!!?

    And to quote my Heroine For The Ages, "What difference does it make?"
    It is now fixed! Thanks for pointing it out.

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    Re: Carmageddon: Hyundai Gets Crushed, as Others Struggle

    Quote Originally Posted by 1958carnut View Post
    http://www.autoguide.com/index.html The story on poor Hyundai being on the bottom of AutoGuide's list is disconcerting to say the least.
    ?? Top 10 Features New Car Buyers Want.

    What It's Like To Stay Awake All 24 Hours Of LeMans.

    Hyundai Elantra GT Review.
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    Re: Carmageddon: Hyundai Gets Crushed, as Others Struggle

    Quote Originally Posted by Neanderthal View Post
    ?? Top 10 Features New Car Buyers Want.

    What It's Like To Stay Awake All 24 Hours Of LeMans.

    Hyundai Elantra GT Review.
    Sorry. The story in the yellow box about Hyundai. I guess it rotates through several stories.http://www.autoguide.com/auto-news/2...emon-list.html

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    Re: Carmageddon: Hyundai Gets Crushed, as Others Struggle

    4 days until we see June results....

    Though I'm sure the amount Hyundai is storing pales in comparison to GM's 100+ day supply, I do find Hyundai's choice to park the cars very interesting and well thought out. Restricted photography, remote area and certainly cheap rates make it a very good area to hide how many cars are building up.

    I wonder what will happen to that protective coating on the cars in the extreme heat the area is experiencing. I'm hearing about melting paint, airplanes unable to take off, etc..

    What I never get is why this happens. I'd think there would be some internal triggers to stop or slow down production once a certain amount of days supply is hit. It's like the auto makers just assume constant growth and keep building more and more.

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    Re: Carmageddon: Hyundai Gets Crushed, as Others Struggle

    Quote Originally Posted by 1958carnut View Post
    Sorry. The story in the yellow box about Hyundai. I guess it rotates through several stories.http://www.autoguide.com/auto-news/2...emon-list.html
    Found it. It doesn't make sense, KIA vehicles are sibs or sometimes twins. Reminds me of the CR report that said Sables are great but Taurii are junk, or vice versa, DON'T BUY!, with absolutely no explanation why identical vehicles would have different numbers of complaints.

    Data are simply data. The psychological make-up of the customer cohort, and especially that tiny cohort who frequent AG car forums, tells me this is an article to write an article but not science in any form.
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    Re: Carmageddon: Hyundai Gets Crushed, as Others Struggle

    Quote Originally Posted by BlackGTP View Post
    4 days until we see June results.....
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    Re: Carmageddon: Hyundai Gets Crushed, as Others Struggle

    Apparently one Hundy is enough.
    Guy here at work has a Sonata lemon but he's stuck with it.
    You would think KIA would have the same problem. Something's different.
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    Re: Carmageddon: Hyundai Gets Crushed, as Others Struggle

    Quote Originally Posted by BlackGTP View Post
    4 days until we see June results....

    Though I'm sure the amount Hyundai is storing pales in comparison to GM's 100+ day supply, I do find Hyundai's choice to park the cars very interesting and well thought out. Restricted photography, remote area and certainly cheap rates make it a very good area to hide how many cars are building up.

    I wonder what will happen to that protective coating on the cars in the extreme heat the area is experiencing. I'm hearing about melting paint, airplanes unable to take off, etc..

    What I never get is why this happens. I'd think there would be some internal triggers to stop or slow down production once a certain amount of days supply is hit. It's like the auto makers just assume constant growth and keep building more and more.
    Where did you see the "stored cars" notes?

    Overproduction? You're banking on humans being rational beings. Car companies, suppliers, unions, shippers, etc. probably do not have Data and Spock making decisions for them?


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    Re: Carmageddon: Hyundai Gets Crushed, as Others Struggle

    Quote Originally Posted by Neanderthal View Post
    Where did you see the "stored cars" notes?
    You mean this part (from the article link):

    And its inventory of unsold cars is piling up, but not only on dealer lots!
    The photos below show Hyundai cars starting to fill up especially created gravel lots just north of the Otay border crossing to Mexico (Tijuana).
    The photos were taken by a person who has been driving on this road (Alta Road) for many years, but who doesn’t want to be identified because the photos were taken in a delicate area near the border, leading to Donovan Prison and San Diego County jails. The road is marked with “no stopping,” “no parking,” and “no standing” zones, the source says.
    “For 10 years there have been signs selling land with no takers, but in the last six months, acres of gravel lots are appearing where there was once chaparral,” the source said. “Now they’re filling them with factory-fresh Hyundais. The lots are getting bigger and bigger and the cars dustier and dustier.”
    This photo shows one of the vast new gravel lots. Note the security lights. The first Hyundais have started to show up (click to enlarge):

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    Re: Carmageddon: Hyundai Gets Crushed, as Others Struggle

    Guys please, if you are going to make a comment on an article do yourself a favor of reading the article.... or at the least look at the article to before you post questions on what is in the article.

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    Re: Carmageddon: Hyundai Gets Crushed, as Others Struggle

    Quote Originally Posted by roadkillz View Post
    Guys please, if you are going to make a comment on an article do yourself a favor of reading the article.... or at the least look at the article to before you post questions on what is in the article.


    Guilty; I admit, I didn't read much, the story is 3 1/2 weeks old.................
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    Re: Carmageddon: Hyundai Gets Crushed, as Others Struggle

    Quote Originally Posted by roadkillz View Post
    Guys please, if you are going to make a comment on an article do yourself a favor of reading the article.... or at the least look at the article to before you post questions on what is in the article.
    The parts referenced were nowhere that I could see. That's why I asked.

    Please, guy. Give a little credit.
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