Ford F-150 Lightning sales plummet 50% in October
Customers end F-150 Lightning sales, forcing automaker to cut production November 4, 2024 19:44 Ford reported overall sales growth of 15.2% in October compared with the same month last year. Sales of hybrid models surged 38.5% in October, while sales of internal combustion engine models increased 14.1%. F-150 Lightning sales plummeted by nearly 50%, which is why they recently decided to discontinue production. Ford has high hopes for its next generation of electric vehicles, but their current models are still struggling. That was evident today, as the automaker reported an 8.3% decline in electric vehicle sales compared with last October. The biggest loser was the F-150 Lightning, whose sales fell 49.8%. Given the steep decline in production, it's no surprise that the company recently announced plans to temporarily halt production later this month into early next year. More: Ford to pause F-150 Lightning production until 2025 due to weak EV demand Although buyers no longer favor electric pickup trucks, they…
Stellantis blames dealers as Maserati sales plummet 60%
Carlos Tavares thinks Maserati’s positioning is unclear and “the way it tells stories is not right” Maserati's third-quarter sales fell 60% from 2023 and are down more than 58% year-to-date. Stellantis' chief executive blamed Maserati's decline on weak brand positioning and aggressive discounting by dealers. Stellantis is refocusing Maserati on profitability and premium appeal through reduced model lineups and cost-cutting measures. Maserati managed to sell approximately 20,600 vehicles in the first nine months of 2023. Fast forward to this year, and that number has plummeted to about 8,600 vehicles, according to the latest official figures from Stellantis. The drop was as high as 58.3%, ultimately causing Davide Grasso to lose his position as CEO. Now Stellantis boss Carlos Tavares blames Maserati's marketing tactics and dealers' insistence on discounted models for hurting the brand's premium appeal. This isn't even the first time Tavares has taken aim at Maserati's marketing woes. He made similar comments back in September. Of course, he hadn't…
Volkswagen profits plummet 42% due to “industry-wide buyer reluctance”
Unfavorable factors continue to intensify, Volkswagen Group sales fell 8.3% in the third quarter Volkswagen has been warning that things were looking bad, and their third-quarter results confirmed that. Sales fell 8.3% in the third quarter, adding to a troubling 20.5% year-to-date profit decline. The automaker attributed the poor performance to a challenging economy, high costs and resistance to electric vehicles. Volkswagen Group has released its third-quarter earnings, and there's no sugar-coating it, because it's been a brutal three months. Compared with the same period last year, sales fell by 8.3% and profits fell by 41.7%. The company's third-quarter profit was just 286 million euros ($3.111 billion), down from 489 million euros ($5.31 billion) last year. Given the massive drop in sales, it's no surprise that the automaker has been considering factory closures, cost cuts and mass layoffs. More: Volkswagen could close three German plants, lay off thousands of jobs In the first nine months of this year, group sales…
Honda Pilot grows 62%, but Passport sales plummet 43%
Looks like buyers are waiting for next-gen Honda Passport before placing orders Honda Pilot sales increased 62% in September, while Passport sales fell 43%. Most brands saw declines in September, but their year-to-date sales figures remain solid. The CR-V compact SUV remains Honda's best-selling model, with sales of 298,164 units so far in 2024. The Honda Pilot had a strong year in the United States, with sales up 25% from January to September. Honda's midsize Passport, on the other hand, has seen a decline in popularity, down 29% year-to-date, which could be a sign that potential buyers are waiting for the launch of a new generation model. Since the beginning of this year, Honda has delivered a total of 959,371 vehicles in the first nine months, a year-on-year increase of 12%. Still, sales fell 7% in September, with most models showing declines. More info: 2026 Honda Passport Trailsport shows off thicker design, off-road agility The biggest decline in September was…
Stellantis’ profits will plummet in 2024, and some brands may be eliminated.
Stellantis reported a sharp 48% drop in net profit in the first half of 2024. Chief Executive Officer Carlos Tavares blamed industry conditions and the company’s own operational problems. Tavares warned that loss-making brands could be on the chopping block. If Ford's first-half financial results released this week are disappointing, the numbers at least won't be as bad as Stellantis'. The multinational automaker group, which includes Jeep, Dodge and Fiat, said profits almost halved in the first six months of 2024. var adpushup = window.adpushup = window.adpushup || {que:()}; adpushup.que.push(function() { if (adpushup.config.platform !== "DESKTOP"){ adpushup.triggerAd("4d84e4c9 -9937-4f84-82c0-c94544ee6f2a"); } else{ adpushup.triggerAd("6a782b01-facb-45f3-a88f-ddf1b1f97657"); } }); In the first half of this year, Stellantis' net profit fell 48% to US$6.07 billion compared with the same period in 2023, and adjusted revenue fell by US$6.18 billion to US$9.22 billion. The news caused the group's share price to fall 8.5%. RELATED: Frustrated Stellantis dealers call for changes after sales disaster Chief Executive Carlos Tavares blamed the…
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Türkiye Istanbul Solar Photovoltaic Exhibition 2025 Exhibition Guide (Time & Venue + Ticket Booking)
