SEOUL—South Korea’s Hyundai Motor Co. and affiliate Kia Corp. on Monday forecast that their combined global sales will jump 12.1 percent in 2022, even as last year’s sales fell short of target due to a global chip shortage. The companies sold 6.67 million vehicles in 2021, about 3.7 percent less than their combined target of…
S&P 500 Set to End at Record High on Retail Sales Cheer
The S&P 500 was on track for a record closing high on Monday, as a strong retail sales report underscored the strength of the U.S. economy and overshadowed worries from Omicron-driven flight cancellations that hit stocks in the travel sector. Retail sales in the country rose 8.5 percent during this year’s holiday shopping season from…
US Auto Sales to Fall in December Due to Supply Constraints: Data
U.S. auto retail sales are expected to fall in December, as supply shortages and high demand have caused prices to skyrocket, consultants J.D. Power and LMC Automotive said in a report released on Thursday. Retail sales of new vehicles could fall 17.7 percent to 2,923,600 units from a year earlier, the report said. “Intense demand…
Online Sales Expected to Reach Record for Boxing Day in Australia
Online sales in Australia are expected to reach a record on Boxing Day, according to data released this week by Commonwealth Bank. The survey of 1,005 people revealed that 60 percent of online shoppers were mainly motivated by convenience, 54 percent want to avoid queues, and 43 percent were happy to avoid traffic. Australian Retailers…
Analysts Remain Bullish on Apple Over iPhone 13, AR Glasses, App Store
Analysts remained bullish on Apple Inc. over iPhone 13 and a court order in support of App Store. Wedbush analyst Daniel Ives says that his Apple store checks, supply chain data, and iPhone order delays confirm his bullish view that demand is currently outstripping supply for iPhones 13 by roughly 10 million units globally. His…
BMW Hits 1 Million EV Sales, Targets 2 Million Fully Electric Sales by 2025
BERLIN—BMW has sold its one millionth electric vehicle (EV)—including purely electric and hybrid vehicles—and plans to reach two million sales of purely electric vehicles by 2025, the German carmaker said on Tuesday. Around 70 percent of EVs sold so far were hybrids, board member Pieter Nota said in a roundtable with journalists, adding that the…
Euro Zone Retail Sales Up in October on Non-Food Purchases
December 3, 2021
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BRUSSELS—Euro zone retail sales rose in line with expectations in October as consumers spent more on non-food purchases, particularly online, data from Eurostat showed on Friday. Retail sales, a proxy for consumer demand, in the 19 countries sharing the euro, gained 0.2 percent month-on-month in October and were up 1.4 percent from a year earlier,…
US New Homes Sales Rise 0.4 Percent in October as Prices Climb
WASHINGTON—U.S. sales of new homes edged up 0.4 percent last month, coming in below expectations as housing prices continued to climb. The Commerce Department reported Wednesday that sales of new single-family homes rose to a seasonally adjusted annual rate of 745,000 last month from 742,000 in September. Economists had expected October’s new home sales to…
Home Depot Beats Sales Estimates as Home Improvement Spending Holds Strong
November 16, 2021
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Home Depot Inc. beat quarterly sales estimates by nearly $2 billion on Tuesday as Americans, buoyed by a strong housing market, hired more builders and handymen to complete large home improvement projects, boosting demand for tools and materials. Professional contractors have been rushing back to Home Depot’s stores as they look to upgrade their toolkits…
Walmart Raises Full-Year Sales, Profit Forecasts as Holidays Start Strong
November 16, 2021
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Walmart Inc. on Tuesday raised its annual sales and profit forecast in anticipation of a surge in demand for toys and apparel during the crucial holiday season, even as global supply chain disruptions hit its margins in the third quarter. Shares of the world’s largest retailer were flat in pre-market trading, reversing earlier gains of…
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