Hyundai's Sales Edge Up Behind Retail, Crossover Demand

First Up 07/02/19

Hyundai's Sales Edge Up Behind Retail, Crossover Demand
The Hyundai brand's U.S. sales, helped by an expanding crossover lineup, have advanced 11 straight months year-over-year, reports Automotive News. Hyundai's June U.S. sales rose 1.5 percent behind higher retail and strong crossover demand. Hyundai said three crossovers – Santa Fe, Tucson, and Kona – posted double digit gains in retail volume, helping give the brand its 11th straight monthly increase. June marked the sales debut of the Palisade, Hyundai's large three-row crossover, and volume totaled 383 units. Overall, Hyundai's light truck sales rose 10 percent last month.  Hyundai, like other automakers, continues to post weaker car sales, with the Sonata and Elantra both down for the month and year. Read more here. 

More Than 41 Million Americans Will  Hit the Road on July 4th Weekend
It is looking like the summer of the road trip in 2019. CNBC reports that nearly half of adult Americans (45%) plan to pack up the car for vacation travel, according to the Invest in You Spending Survey conducted by CNBC and Acorns in partnership with SurveyMonkey. Only 21% say their summer travel plans include domestic air travel, while only about 1 in 10 Americans (9%) expressed plans to fly internationally during their summer vacation. The national survey of 2,800 Americans was conducted June 17–20 by CNBC and Acorns in partnership with SurveyMonkey. A diverse group of men and women were polled across the country, ranging in ages from 18 to over 65, on their money habits and changes in financial behavior. The CNBC survey findings correspond to recent projections from the American Automobile Association for the upcoming July 4th weekend, which forecasts that a vast majority of the nearly 49 million travelers who plan to travel — 41.4 million — will hit the road, the most on record for the holiday and 4.3% more than last year. Read more here.

Halfway Into '19, Industry Seeks First Sales Gain
Consumers' willingness to load up new vehicles and pay higher prices has kept profits rolling in even though retail sales are declining, reports Automotive News. U.S. new light-vehicle sales are expected to be down for a sixth consecutive month when automakers report June results today, July 2. It would be the second time in three years that the industry failed to achieve a single monthly increase from January through June. That's not to say showroom traffic has dried up. Automakers just aren't flooding dealerships with big incentives to juice their monthly numbers as higher interest rates and rising vehicle prices cool demand. "June auto sales aren't hitting the same levels that they did last year, but they aren't dropping off a cliff, either," said Jeremy Acevedo, manager of industry analysis at Edmunds. Read more here.  

Chinese Have a Go in Market Where U.S. Cars Flopped
As car sales in China plummet, its manufacturers are expanding abroad, reports The Detroit News. In India, SAIC will be up against the local unit of Suzuki Motor Corp. and Hyundai Motor Co. Together, they control two-thirds of the world’s fourth-biggest market where 3.4 million passenger vehicles were sold in the year through March. Adding to SAIC’s challenges, auto sales in India have also been shrinking for several months. “They have a long-term view of entering and staying in the market – they won’t mind whatever temporary slowdown is there in the country,” said Bharat Gianani, an analyst at brokerage Sharekhan Ltd. in Mumbai. “To succeed, you need volumes and high localization. You need to have a proper pipeline of new launches with lots of segment-first features.” Read more here. 

Study: Dealers Can Laugh Their Way To Successful Sales Calls
Laughing. You might not think of that as an important aspect of handling sales calls. But according to a new study, it is. Auto Remarketing says that a new report from conversational analytics company Marchex analyzed 6,200 U.S. auto dealership sales conversations in January. The endeavor showed top sales performers laughed during more than half of their calls. Marchex said that helped relax the caller and brought a positive feeling to the call. That was just one finding of the study, however. The top-performing salespeople used active listening much more than lower-performing sales representatives. Marchex said active listening leads to more dealership visits and more sales. In a news release, Marchex head of automotive Matt Muilenburg described active listening as being extremely important in making strong connections with prospective car buyers during phone calls. Read more here. 

Webinar: How to Protect Your Used Car Margins
AutoTalk's car gurus are back! Bob Grill, Carfax Senior Partner Development Manager, along with  Automotive Consultant Mike Rossman will deliver a robust presentation on Tuesday, July 16th at 2:00pm EDT, detailing how to:

  • Drive buyers, not just traffic

  • Create better listing descriptions 

  • Skillfully win more trades

  • Increase your closing ratio while holding your gross margins 

To register, click here.

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