FinancialNewsMedia.com News Commentary
PALM BEACH, Florida, Feb. 5, 2019 /PRNewswire/ -- Hemp U.S. Auto Sedan sales decline as North Americans show that their love of their pickups runs deep and among other long-time mainstays, Americans continue their affair with their beloved Jeeps. Industry publications indicated that Fiat Chrysler's Jeep Wrangler was the standout for the month and possibly the year, powering the best year for retail sales in 17 years. Jake Fisher, director of auto testing at Consumer Reports says consumers enjoy the versatility and seating position they get from riding in light trucks, which has resulted in declining sedan sales. According to Statista research Pickup truck sales, in the US, continue to grow in 2019 to US$98.328 million which shows the market almost doubled since 2010. This market segment in the automotive industry is primarily our beloved light-truck, such as the Silverado/Sierra, F-Series, and Ram Trucks. While many models from other classes of large passenger vehicles suffered from strict regulations concerning fuel economy, pickup trucks had fewer regulations and standards, historically. The lower requirements led to pickup trucks becoming a new favorite vehicle for North American drivers, with innovative features, luxury appointments, and mileage comparable to most large sedans. Active stocks in the industry include: Franchise Holdings International (OTC:FNHI), General Motors Company (NYSE:GM), Toyota Motor Corporation (NYSE:TM), Ford Motor Company (NYSE:F), Fiat Chrysler Automobiles N.V. (NYSE: FCAU).
Franchise Holdings International (OTCQB: FNHI), BREAKING NEWS: Franchise Holdings International, Worksport Ltd.'s parent company, said it was on track to achieve revenues representing at least a 1100 per cent increase year over year, when compared with 2018. Worksport, an innovative manufacturer of high quality, functional, and aggressively priced tonneau/truck bed covers for the light truck market, provides products for the Sierra, Silverado, Canyon, RAM, and Ford F-Series. Covers like Worksport's are considered the single most commonly purchased item for pickup trucks.
The North American tonneau cover market, estimated to be in the multi-billions, is driving Worksport's growth. One key factor is the overwhelming success of its private label initiative. With its proprietary designs and patents, Worksport supplies custom tonneau covers for large brands in the U.S. and Canada and received in excess of U.S. $1,000,000 in orders within the past 90 days. New private label orders are arriving regularly. Another large U.S. client has placed a sizeable opening order to ship in March, 2019 from Worksport's "discovery" product offering, its more innovative models.
"We are set to make history…we are just getting started"
"We're eagerly focused on profitability and sustainable growth," said Worksport CEO Steven Rossi. "I wish to thank all shareholders, partners and direct investors for their support, which has led us to this moment. There is still a lot of work to be done. After the name change, successful capital placement, new and innovative products, tremendous revenue growth, and the much-anticipated potential cross listing on the Canadian Securities Exchange, we are set to make history. It will be a victory for shareholders. We are just getting started. We have several new partnerships and investments ahead that are expected to bring even more value to our investors."
Management will promptly update its shareholders as it reaches milestones relating to new products, patents, trademarks, completion of its CSE listing as well as when it reaches revenue milestones. Read this full announcement and more news for FNHI at: https://www.financialnewsmedia.com/news-fnhi/
Additional industry related developments from around the markets:
General Motors Company (NYSE: GM) an American multinational corporation known for brands like Chevrolet, Cadillac, and GMC keeps developing in the Pickup Truck market. As North American drivers are buying more light-trucks and fewer Sedans, General Motors is betting big on its pickup truck line-up to lead revenue growth long-term. With this new focus General Motors became the third domestic automaker to bet the future on the popular pickup trucks and SUVs. The company will drop 6 models including some of the pioneering models like the Chevrolet Volt and the Cadillac CT6. General motors will have the main focus on Pickup trucks and SUV's as well electrified and autonomous vehicles.
Regardless the overall decline in GM's sales for the 4th quarter of 2018 they feel confident for 2019 as they continue to innovate. "We feel confident heading into 2019 because we have more major truck and crossover launches coming during the year and the U.S. economy is strong," said Kurt McNeil, U.S. vice president of sales operations at GM.
Toyota Motor Corporation (NYSE: TM) has launched a new podcast last month named "Toyota Untold" where they tell for the first time the story of Toyota through the people who created it, lived it, and are dedicated to moving it into the future. Toyota is now showing market insights that innovation in the pickup truck market will be the key to bring the company to new heights, with the launch of its all-new Toyota Tundra.
"We have a rich history and exciting future that we haven't been able to tell through other communication channels," said Eric Booth, senior manager of external communications for Toyota Motor North America. "This podcast will allow our customers and the media to gather important information about our company, as well as hear about exciting products and initiatives we're working to bring to market in the future." Toyota has had overwhelming success globally with its mid-size and full-size pickup trucks.
Ford Motor Company (NYSE: F) is a multinational automaker that is well known by its F-Series Pickup Truck. Ford Motor sold over 1 million F-Series Trucks in 2018 which is one every 29,3 seconds. Beside General Motors, Ford also recently announced last year its intent to focus on its light-truck market, as well as SUVs, by dropping most of its sedan models.
Jim Farley, Ford Motor Co.'s president of global markets, confirmed plans to build a less expensive pickup that would slot below the Ranger. At the Deutsche Bank Global Auto Industry Conference in Detroit, Farley said Ford is "investing in more affordable versions of our truck business". Ford is yet another automotive company showing more focus on the Pickup Truck market.
Fiat Chrysler Automobiles N.V. (NYSE: FCAU) on February 4, 2019 FCA US announced that it is celebrating the 35th anniversary of the minivan as the originator and leading innovator in the segment it created in 1984. New for 2019, the 35th Anniversary edition is available on Chrysler Pacifica, Pacifica Hybrid and Dodge Grand Caravan models, featuring new badging, an all-black interior with Cranberry Wine accent stitching, and upgraded content, in addition to the already extensive list of standard equipment.
The first modern minivan rolled off the Windsor Assembly Plant line on Nov. 2, 1983, sparking a new segment of people movers that rose in popularity very quickly, transporting millions of moms, dads and kids, and becoming part of their families. FCA US minivans are now appealing to a new generation. Kids who used to ride in the second row are now in the driver's seat, making memories with families of their own.
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