And the award for best automotive advancements goes to…industry-wide January sales gains, the EV ads that dominated the Super Bowl, and the fight to save sedans.
FROM AUTOMOTIVE NEWS: Light Trucks Drive Toyota, Hyundai, Subaru, Kia to Gains
January resulted in industry-wide gains for every reporting manufacturer aside from American Honda thanks to strong demand for crossovers and light trucks. However, an official look at 2020’s sales pace won’t be available until all OEMs report their quarterly numbers.
FROM THE NEW YORK TIMES: Super Bowl Ads Hyped Electric Cars. But Will Anyone Buy Them?
Manufacturers like GM, Porsche, and Audi used one of the biggest nights in advertising to bring their all-electric models to the mainstream. Growing exposure is important as EVs made up only 2% of 2019’s new vehicle sales, and only 55% of respondents in a recent survey could name a single EV brand.
FROM AUTO REMARKETING: Pre-Owned an Option to Keep Displaced Sedan Loyalists
As OEMs take a hard look at their model lines, a recent study advises against doing away with sedans once and for all. 67% of current sedan owners considered shopping around for the model if their current brand was no longer available, while 37% would consider buying pre-owned of the same brand.
FROM BLOOMBERG: GM Sees Weak Auto Markets Mostly Wiping out Gains From New SUVs
As markets fluctuate in the U.S. and China, major manufacturers such as GM are capitalizing on growing consumer trends and relying on costly truck and SUV models to flatten out their sales earnings.