‘A new era in commerce’: Amazon Pay VP says voice payments potential is ‘phenomenal’

The vice president of Amazon Pay believes consumers paying for goods with the sound of their voice will revolutionize the commerce industry. Speaking to CNBC’s Elizabeth Schulze at the Money 20/20 conference in Amsterdam on Tuesday, Amazon Pay VP Patrick Gauthier said voice payments would represent a “new era in commerce.” Last year, strategy consultants OC&C predicted that the growing popularity of smart speakers would lead to an explosion in voice-based shopping. The international consulting f


The vice president of Amazon Pay believes consumers paying for goods with the sound of their voice will revolutionize the commerce industry. Speaking to CNBC’s Elizabeth Schulze at the Money 20/20 conference in Amsterdam on Tuesday, Amazon Pay VP Patrick Gauthier said voice payments would represent a “new era in commerce.” Last year, strategy consultants OC&C predicted that the growing popularity of smart speakers would lead to an explosion in voice-based shopping. The international consulting f
‘A new era in commerce’: Amazon Pay VP says voice payments potential is ‘phenomenal’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-04  Authors: sam meredith
Keywords: news, cnbc, companies, payments, era, predicted, voice, technology, phenomenal, firm, speakers, amazon, commerce, vp, growing, industry, pay, potential, billion


'A new era in commerce': Amazon Pay VP says voice payments potential is 'phenomenal'

The vice president of Amazon Pay believes consumers paying for goods with the sound of their voice will revolutionize the commerce industry.

Speaking to CNBC’s Elizabeth Schulze at the Money 20/20 conference in Amsterdam on Tuesday, Amazon Pay VP Patrick Gauthier said voice payments would represent a “new era in commerce.”

“It is akin to what happened with mobile maybe 10 years ago or even with e-commerce 20 years ago.”

Smart speakers — such as Amazon’s Echo, Alphabet’s Google Home and Apple’s HomePod — are the fastest growing consumer technology since the smartphone, according to research firm eMarekter.

It comes at a time when artificial intelligence is disrupting every industry, leading to new business models, further digital transformation and a future of technology that’s more integrated into our natural environment.

Last year, strategy consultants OC&C predicted that the growing popularity of smart speakers would lead to an explosion in voice-based shopping. The international consulting firm predicted the industry would grow to $40 billion-plus in 2022, up from about $2 billion across the U.S. and U.K.

Some expect even faster growth rates for voice payment services. In February, Juniper forecast that voice commerce would rise to $80 billion in 2023.


Company: cnbc, Activity: cnbc, Date: 2019-06-04  Authors: sam meredith
Keywords: news, cnbc, companies, payments, era, predicted, voice, technology, phenomenal, firm, speakers, amazon, commerce, vp, growing, industry, pay, potential, billion


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Mondelez isn’t feeling the heat from global consumer worries, CEO says

Mondelez International has been able to boost sales despite an “unease” among worldwide consumers, CEO Dirk Van de Put told CNBC’s Jim Cramer Tuesday. “If I look at food [companies], they’re doing pretty good,” Van de Put he said in a “Mad Money” interview. “Consumers are more on-the-go, they eat more out of [the] home — millennials particularly don’t really want to sit down and have a big meal. Mondelez has also relied on its research team to leverage the fact that food consumption differs in e


Mondelez International has been able to boost sales despite an “unease” among worldwide consumers, CEO Dirk Van de Put told CNBC’s Jim Cramer Tuesday. “If I look at food [companies], they’re doing pretty good,” Van de Put he said in a “Mad Money” interview. “Consumers are more on-the-go, they eat more out of [the] home — millennials particularly don’t really want to sit down and have a big meal. Mondelez has also relied on its research team to leverage the fact that food consumption differs in e
Mondelez isn’t feeling the heat from global consumer worries, CEO says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-28  Authors: tyler clifford
Keywords: news, cnbc, companies, growth, feeling, snacking, mondelez, dont, isnt, food, consumers, worries, growing, van, stock, global, heat, consumer, ceo, market, really


Mondelez isn't feeling the heat from global consumer worries, CEO says

Mondelez International has been able to boost sales despite an “unease” among worldwide consumers, CEO Dirk Van de Put told CNBC’s Jim Cramer Tuesday.

“If I look at food [companies], they’re doing pretty good,” Van de Put he said in a “Mad Money” interview. “I would say as it relates to their overall life circumstances and how the middle class feels … the lower class — they don’t feel well at the moment.”

Geopolitical issues, such as Great Britain’s impending breakup with the European Union, is causing uncertainty and weighing on overall consumer confidence, Van de Put said.

But the packaged food company has found success by adapting to changing consumer tastes, especially those of millennials, said Van de Put, who has led the company since the end of 2017. That demographic of shoppers has demanded more and more snack products, he added.

“They’re snacking, well, because it’s a lifestyle change,” he said. “Consumers are more on-the-go, they eat more out of [the] home — millennials particularly don’t really want to sit down and have a big meal. They want to sort of fuel themselves, and they eat 7 times a day, so snacking is really growing as a habit and also the market is growing as a consequence of that.”

The Illinois-based parent of Nabisco, Oreo, Philadelphia Cream Cheese and other recognizable brands recorded nearly 4% organic sales growth and more than 8% growth in emerging markets in its April quarterly earnings report. The stock has rallied nearly 30% this year.

Mondelez has also relied on its research team to leverage the fact that food consumption differs in each market. Take China, where the snack manufacturer successfully rolled out an Oreo campaign and entered the wafers segment that connected with the local customer.

“I don’t think consumers … want to eat the same thing all over the world, and we’re trying to adapt to that,” Van de Put said. “We try to get local insight and talk to [consumers], listen to them, observe their snacking behaviors and they will tell you if they like it or they don’t like it and from there we develop our product.”

Van de Put hinted at more growth on the horizon in the domestic market with the company’s premium cookie Tate’s, which it began selling after acquiring Tate’s Bake Shop in May 2018 for $500 million. The fast-growing brand also makes other baked goods.

“It’s on fire. It’s really growing very fast. It still isn’t in every store in the U.S., so it’s huge potential,” he said. “And in the store it’s in, it doesn’t have enough space. It needs more space because it’s out of stock all the time.”

Shares of Mondelez fell 2.23% during the session Tuesday. The stock is $2 off its all-time high, set in mid-May.


Company: cnbc, Activity: cnbc, Date: 2019-05-28  Authors: tyler clifford
Keywords: news, cnbc, companies, growth, feeling, snacking, mondelez, dont, isnt, food, consumers, worries, growing, van, stock, global, heat, consumer, ceo, market, really


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A growing number of Chinese consumers are switching from Apple’s iPhone, paper says

Customers look at products in an Apple store in Beijing on December 11, 2018. Huawei is winning over more and more Apple fans in China as the escalated trade tensions have stoked “nationalist sentiment,” according to the South China Morning Post. China’s consumers are increasingly favoring their domestic brands after the U.S. stepped up its action against Huawei, the paper said. The article cited a few anecdotes where people switched to Huawei smartphones from their beloved iPhones to show their


Customers look at products in an Apple store in Beijing on December 11, 2018. Huawei is winning over more and more Apple fans in China as the escalated trade tensions have stoked “nationalist sentiment,” according to the South China Morning Post. China’s consumers are increasingly favoring their domestic brands after the U.S. stepped up its action against Huawei, the paper said. The article cited a few anecdotes where people switched to Huawei smartphones from their beloved iPhones to show their
A growing number of Chinese consumers are switching from Apple’s iPhone, paper says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-23  Authors: yun li
Keywords: news, cnbc, companies, support, trade, tensions, chinese, store, brands, paper, consumers, number, switched, iphone, switching, winning, apples, growing, huawei, apple, china


A growing number of Chinese consumers are switching from Apple's iPhone, paper says

Customers look at products in an Apple store in Beijing on December 11, 2018.

Huawei is winning over more and more Apple fans in China as the escalated trade tensions have stoked “nationalist sentiment,” according to the South China Morning Post.

China’s consumers are increasingly favoring their domestic brands after the U.S. stepped up its action against Huawei, the paper said. The article cited a few anecdotes where people switched to Huawei smartphones from their beloved iPhones to show their support for the country and Chinese brands.


Company: cnbc, Activity: cnbc, Date: 2019-05-23  Authors: yun li
Keywords: news, cnbc, companies, support, trade, tensions, chinese, store, brands, paper, consumers, number, switched, iphone, switching, winning, apples, growing, huawei, apple, china


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Palantir 2019 Disruptor 50

As the drumbeat of a potential IPO this year grows louder, Palantir keeps expanding. Read More: FULL LIST 2019 DISRUPTOR 50In its early days, Palantir did most of its work for the Pentagon and the CIA in Iraq and Afghanistan. Earlier this year, a Palantir executive revealed on French TV that the company had revenue of $1 billion in 2018. About half came from government agencies and the rest from corporate customers, a segment that is growing rapidly, thanks to a new product called Foundry. CEO A


As the drumbeat of a potential IPO this year grows louder, Palantir keeps expanding. Read More: FULL LIST 2019 DISRUPTOR 50In its early days, Palantir did most of its work for the Pentagon and the CIA in Iraq and Afghanistan. Earlier this year, a Palantir executive revealed on French TV that the company had revenue of $1 billion in 2018. About half came from government agencies and the rest from corporate customers, a segment that is growing rapidly, thanks to a new product called Foundry. CEO A
Palantir 2019 Disruptor 50 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: cnbccom staff, george kavallines, source, indigo agriculture, leah millis, prakash singh, afp, getty images
Keywords: news, cnbc, companies, palantir, disruptor, pentagon, software, 2019, growing, company, contract, ipo, 50, rapidly, potential, billion


Palantir 2019 Disruptor 50

As the drumbeat of a potential IPO this year grows louder, Palantir keeps expanding. In March the secretive Silicon Valley data analytics company co-founded by PayPal founder and Trump advisor Peter Thiel won an army contract worth up to $800 million. As CNBC reported, it is the first time that a venture-backed firm has been named a “defense program of record,” meaning that it basically falls into the category of the biggest, multiyear project awarded by the Pentagon. It beat out Fortune 500 company Raytheon for the contract. This comes after a smaller, yet still significant, contract with the federal government’s National Institutes of Health signed in September. The three-year contract is another sign that the government values Palantir’s offerings, and it enables the company to push further into the rapidly growing health-care and biosciences market.

Read More: FULL LIST 2019 DISRUPTOR 50

In its early days, Palantir did most of its work for the Pentagon and the CIA in Iraq and Afghanistan. Its software can take mounds of data from an organization — financial reports, cellphone records, social media postings, for example — and transform it into maps, charts and other actionable forms of intelligence. Palantir can then report back to a client any news of potential trouble, whether it be terrorism, financial fraud or even human trafficking. The government success has led to contracts with the private sector, including BP, Merck, Airbus and Fiat Chrysler’s North American factories.

Earlier this year, a Palantir executive revealed on French TV that the company had revenue of $1 billion in 2018. About half came from government agencies and the rest from corporate customers, a segment that is growing rapidly, thanks to a new product called Foundry. The service automates much of what Palantir does, allowing the company to sell ready-to-use software at higher margins. CEO Alexander Karp won’t comment on IPO rumors, but that hasn’t stopped investors from talking up its expected 2019 debut. The company has raised an astounding $2 billion and is valued at $20 billion.


Company: cnbc, Activity: cnbc, Date: 2019-05-14  Authors: cnbccom staff, george kavallines, source, indigo agriculture, leah millis, prakash singh, afp, getty images
Keywords: news, cnbc, companies, palantir, disruptor, pentagon, software, 2019, growing, company, contract, ipo, 50, rapidly, potential, billion


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Dow drops 470 points on growing trade-war threat, biggest decline since early January

The Dow Jones Industrial Average fell 473.39 points, or 1.79%, to 25,965.09 after plunging as much as 648.77 points at its low of the day, while the S&P 500 dropped 1.65% to 2,884.05. All 30 of Dow components fell and all 11 S&P sectors traded lower in the broad sell-off. Lighthizer made his remarks after President Donald Trump tweeted he would raise current tariffs 10% on $200 billion of Chinese goods to 25% on Friday. He also threatened to impose an extra 25% levy on another $325 billion of Ch


The Dow Jones Industrial Average fell 473.39 points, or 1.79%, to 25,965.09 after plunging as much as 648.77 points at its low of the day, while the S&P 500 dropped 1.65% to 2,884.05. All 30 of Dow components fell and all 11 S&P sectors traded lower in the broad sell-off. Lighthizer made his remarks after President Donald Trump tweeted he would raise current tariffs 10% on $200 billion of Chinese goods to 25% on Friday. He also threatened to impose an extra 25% levy on another $325 billion of Ch
Dow drops 470 points on growing trade-war threat, biggest decline since early January Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-07  Authors: fred imbert yun li, fred imbert, yun li
Keywords: news, cnbc, companies, threat, trade, tariffs, think, dropped, dow, 470, tradewar, biggest, goods, decline, early, chinese, drops, growing, points, sp, fell


Dow drops 470 points on growing trade-war threat, biggest decline since early January

Stocks fell sharply on Tuesday after a top U.S. trade official indicated that higher tariffs on Chinese goods are coming later this week, disappointing traders who hoped President Donald Trump’s weekend tweet threat was just a negotiation tactic.

The Dow Jones Industrial Average fell 473.39 points, or 1.79%, to 25,965.09 after plunging as much as 648.77 points at its low of the day, while the S&P 500 dropped 1.65% to 2,884.05. It was the Dow’s biggest drop since January 3. The Nasdaq Composite dropped 1.96% to 7,963.76. All 30 of Dow components fell and all 11 S&P sectors traded lower in the broad sell-off.

Shares of trade bellwethers Caterpillar and Boeing fell 2.26% and 3.87%, respectively. Boeing also broke below its 200-day moving average for the first time since January. Chipmakers, especially vulnerable if China retaliates, led the tech sector lower as Nvidia dropped 3.75%. Apple also fell 2.7%.

U.S. Trade Representative Robert Lighthizer told reporters that the U.S. will increase levies on Chinese imports on Friday.

Lighthizer’s comments “further increased the likelihood of a tariff step up,” Keith Parker, a strategist at UBS, said in a note. A full-blown trade war would shave off 45 basis points from global economic growth, while China’s GDP would take a hit of between 1.2% and 1.5%.

“We still see a trade war as low probability given the next tranche of tariffs would hit US consumer goods, but nevertheless it would have a big negative impact,” he said.

Lighthizer made his remarks after President Donald Trump tweeted he would raise current tariffs 10% on $200 billion of Chinese goods to 25% on Friday. He also threatened to impose an extra 25% levy on another $325 billion of Chinese goods “shortly.”

Trump’s tweets initially sent the market reeling on Monday. The Dow fell as much as 471 points while the Nasdaq dropped 2% at one point. However, equities rebounded to close well off their lows on news that a Chinese delegation would come to Washington for talks and as traders bet that Trump’s tweet was just bluffing.

But Lighthizer’s comments dashed those hopes. The selling on Tuesday accelerated after the Dow broke through Monday’s lows.

The Cboe Volatility Index, a measure of the 30-day implied volatility of the S&P 500 known as the “VIX” or the “fear gauge,” hit a fresh high of 21.09 on Tuesday, its highest level since January 22.

“I think this is a big masquerade by the administration. I think they’re preparing the market for the worst-case scenario but a trade deal is probably going to happen,” said Peter Cardillo, chief market economist at Spartan Capital Securities. “I still think we’ll get some sort of positive announcement on Friday.”


Company: cnbc, Activity: cnbc, Date: 2019-05-07  Authors: fred imbert yun li, fred imbert, yun li
Keywords: news, cnbc, companies, threat, trade, tariffs, think, dropped, dow, 470, tradewar, biggest, goods, decline, early, chinese, drops, growing, points, sp, fell


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China’s $670 billion ‘sheconomy’ is growing like crazy

A “sheconomy” is booming in China, driven by a seismic shift in younger women’s spending habits. “Those who win over women’s hearts win it all” is now an oft-repeated business slogan across the Asian giant. Overall spending by Chinese women is estimated to have increased 81% in the past five years to $670 billion, according to Guotai Junan, one of the country’s largest investment banks and securities companies. In 2013, China’s online retail sales totaled $280 billion, but that figure ballooned


A “sheconomy” is booming in China, driven by a seismic shift in younger women’s spending habits. “Those who win over women’s hearts win it all” is now an oft-repeated business slogan across the Asian giant. Overall spending by Chinese women is estimated to have increased 81% in the past five years to $670 billion, according to Guotai Junan, one of the country’s largest investment banks and securities companies. In 2013, China’s online retail sales totaled $280 billion, but that figure ballooned
China’s $670 billion ‘sheconomy’ is growing like crazy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-03  Authors: dawn liu, ryan browne, cnbccom with reuters
Keywords: news, cnbc, companies, 670, online, women, win, chinese, chinas, crazy, growing, spending, shopping, womens, sheconomy, billion, sales, according


China's $670 billion 'sheconomy' is growing like crazy

A “sheconomy” is booming in China, driven by a seismic shift in younger women’s spending habits.

“Those who win over women’s hearts win it all” is now an oft-repeated business slogan across the Asian giant.

Overall spending by Chinese women is estimated to have increased 81% in the past five years to $670 billion, according to Guotai Junan, one of the country’s largest investment banks and securities companies.

And despite China’s gender imbalance — there were 31.6 million more males than females at the end of last year, according to official government figures — women account for 55% of online spending, significantly more than their proportion of the population.

A host of online shopping events — dubbed “queen festival,” “goddess festival,” or “butterfly festival” — offer dazzling coupons and discounts as retailers battle to win over women.

Such promotions appear to be working.

International Women’s Day, which is meant to celebrate women’s rights and push for gender equality, has also been turned into an excuse for a massive shopping spree in China. Over the course of three years ending in 2017, female users’ spending increased by 64% on International Women’s Day on Alibaba’s Taobao, China’s biggest online marketplace.

Around 35% of China’s retail sales happen online — by far, the highest rate in the world, according to eMarketer, a New York-based research company. By comparison, e-commerce represents only 10.9% of U.S. sales, the firm says.

In 2013, China’s online retail sales totaled $280 billion, but that figure ballooned to $1.34 trillion in 2018, according to Ministry of Commerce statistics.

Qiu Xiaodong, an economics professor at Beijing’s Jiaotong University, believes broader cultural trends have driven a “fundamental shift” in women’s spending patterns.

“The new generation, girls born in the ’80s and ’90s, live in a time when the country’s economy is growing, their income is growing, and then their parents’ consumption power and consumption concept are changing,” Qiu said.

Wei Sijia, 26, a Chinese fashion blogger and influencer, boasts 2 million followers on social media platforms.

Her posts aim to convince fans to buy the same products she uses, from makeup and skincare products to clothes.

Wei says 92% of her followers are women. And women are the holy grail for Chinese retailers.

“They are well-educated, have a good taste and powerful consuming ability,” Wei said, adding that women in their 20s and 30s “are now growing to be the new middle-class in Chinese society.”

Song Yining, 25, is a kindergarten teacher living in south China’s Fujian province who admits that she sometimes regrets impulse purchases.

When asked why she loves shopping, Song said it makes her “feel happy, fulfilled and confident.”

She added: “I can see the change in myself. When I wear nice clothes and a little makeup, I look prettier.”

To Lu Pin, a U.S.-based Chinese feminist, that’s the exactly the problem.

She thinks shopping festivals targeted at women are “commercial trap” that are “consuming women’s self-awareness.”

Lu believes the obsession with shopping leaves women “nothing but a bunch of daily commodities; not much value for themselves but a lot of money for Taobao.”


Company: cnbc, Activity: cnbc, Date: 2019-05-03  Authors: dawn liu, ryan browne, cnbccom with reuters
Keywords: news, cnbc, companies, 670, online, women, win, chinese, chinas, crazy, growing, spending, shopping, womens, sheconomy, billion, sales, according


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Uber shares will be overvalued the day they go public, growing number of skeptics say

Uber is offering 180 million shares at $44 to $50 apiece for its public debut. On a fully diluted basis, its valuation could top $91.5 billion, making it the biggest public offering since Alibaba. But the valuation is still considered too high as Uber’s growth slowed “drastically” over the past year, Patil said. Uber reported an operating loss of $3 billion on $11.3 billion in revenue for 2018. Uber’s offering is being led by Morgan Stanley, Goldman Sachs and Bank of America.


Uber is offering 180 million shares at $44 to $50 apiece for its public debut. On a fully diluted basis, its valuation could top $91.5 billion, making it the biggest public offering since Alibaba. But the valuation is still considered too high as Uber’s growth slowed “drastically” over the past year, Patil said. Uber reported an operating loss of $3 billion on $11.3 billion in revenue for 2018. Uber’s offering is being led by Morgan Stanley, Goldman Sachs and Bank of America.
Uber shares will be overvalued the day they go public, growing number of skeptics say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: yun li
Keywords: news, cnbc, companies, number, revenue, growing, day, ipo, ubers, company, uber, shares, skeptics, public, say, valuation, billion, trading, growth, offering, overvalued


Uber shares will be overvalued the day they go public, growing number of skeptics say

While Uber’s IPO is drawing big-name supporters including PayPal, there’s a rising chorus of voices saying the world’s biggest ride-hailing company is coming to market at levels which are already overvalued.

Uber is offering 180 million shares at $44 to $50 apiece for its public debut. On a fully diluted basis, its valuation could top $91.5 billion, making it the biggest public offering since Alibaba. However, Uber’s profitability, slowing growth and limited disclosures on key financial metrics are bringing out the doubters.

“We believe the valuation range captures much of the near to intermediate term upside potential,” Shyam Patil, tech analyst at Susquehanna Financial Group, said in a note Wednesday. “It’s concerning to see growth decelerate meaningfully over the past several quarters. … The company has also chosen to limit disclosures on [key performance indicators] for the core business, making it more difficult to analyze performance.”

Uber is already taking a conservative approach in pricing its IPO as the valuation range came in far below the eye-popping $120 billion expected previously. The debut of its rival Lyft a month ago might have put a damper on Uber as shares of Lyft continue to sink in the weeks after the IPO. The stock was trading at $59.28 midday Wednesday, well below its IPO price of $72.

But the valuation is still considered too high as Uber’s growth slowed “drastically” over the past year, Patil said. Its bookings growth has slowed from the high 50% in the first quarter of last year to mid-30% in the first quarter of 2019, while adjusted revenue growth decelerated from 85% to 14% over the same period. Uber reported an operating loss of $3 billion on $11.3 billion in revenue for 2018.

NYU Stern professor Aswath Damodaran, known as “Wall Street’s Dean of Valuation,” valued Uber at only $60 billion, saying the company is “struggling with a way to convert revenue growth into profits.”

Uber’s offering is being led by Morgan Stanley, Goldman Sachs and Bank of America. The company plans to price the IPO on May 9 and begin trading on the New York Stock Exchange the following day under the symbol UBER.


Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: yun li
Keywords: news, cnbc, companies, number, revenue, growing, day, ipo, ubers, company, uber, shares, skeptics, public, say, valuation, billion, trading, growth, offering, overvalued


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Foreign automakers Mitsubishi, VW, Mercedes challenge Detroit in growing US pickup market

Most of the new entrants will target the midsize truck market, he said, “which we expect will be one of the fastest growing segments” in the U.S. between now and mid-decade. Typical Monthly Payment New: $321Typical Monthly Payment Used: $326Total Savings Over Term: $300The Dodge Dakota is a pickup truck for people who actually need a pickup truck. Whatever approach they ultimately take, both Mitsubishi and Volkswagen are projected to enter the midsize pickup market in the U.S., rather than the f


Most of the new entrants will target the midsize truck market, he said, “which we expect will be one of the fastest growing segments” in the U.S. between now and mid-decade. Typical Monthly Payment New: $321Typical Monthly Payment Used: $326Total Savings Over Term: $300The Dodge Dakota is a pickup truck for people who actually need a pickup truck. Whatever approach they ultimately take, both Mitsubishi and Volkswagen are projected to enter the midsize pickup market in the U.S., rather than the f
Foreign automakers Mitsubishi, VW, Mercedes challenge Detroit in growing US pickup market Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: paul a eisenstein
Keywords: news, cnbc, companies, model, segment, fullsize, growing, detroit, version, platform, pickup, vw, market, foreign, challenge, automakers, midsize, truck, pickups, mercedes, mitsubishi


Foreign automakers Mitsubishi, VW, Mercedes challenge Detroit in growing US pickup market

Vokswagen Tarok concept pickup Handout/Volkswagen Group of America, Inc.

The pickup segment has been one of the engines driving the U.S. new vehicle market and it’s likely to get a lot more crowded over the next few years, with Mitsubishi, Volkswagen and Hyundai, among others, considering adding the utility trucks back to their lineups. Senior officials with Mitsubishi and Volkswagen say they are currently exploring different options, with both expected to make their moves before the middle of the coming decade, according to industry analysts. Hyundai, meanwhile, is already at work on a production version of the popular Santa Cruz concept it first revealed at the 2015 North American International Auto Show. Still other manufacturers, ranging from mainstream Fiat Chrysler to highline Mercedes-Benz, are considering their own pickups, said Augusto Amorim, a senior analyst with LMC Automotive. Most of the new entrants will target the midsize truck market, he said, “which we expect will be one of the fastest growing segments” in the U.S. between now and mid-decade. Before Mitsubishi locks down plans, North America COO Mark Chaffin said “[we] have to have one that’s the right fit for Mitsubishi, for our demographic, and something that’s really competitive in the market,” according to trade publication Ward’s.

Typical Monthly Payment New: $321Typical Monthly Payment Used: $326Total Savings Over Term: $300The Dodge Dakota is a pickup truck for people who actually need a pickup truck. If your most strenuous transportation duty involves bringing groceries home, then the Dakota is probably not for you. On the other hand, if you’re hauling construction equipment, lumber or heavy machinery, this midsized pickup is ideal.The typical monthly payment on the truck is $321 new and $326 used. This discrepancy of edmunds.com

Mitsubishi has offered several pickups to U.S. buyers over the years, most recently going with a rebadged version of the Dodge Dakota it called the Raider. It now has several alternatives after being absorbed into what has become the Renault-Nissan-Mitsubishi Alliance. It could update the pickup it now sells in over 150 global markets under a mix of names including Triton, L200 and Strada. But as part of the Alliance, Amorim said in an interview that he expects a U.S. truck would likely be based on the same platform as Nissan’s current midsize model, the Frontier. “We expect them to use the Frontier platform to enter the U.S. market in 2024,” the analyst said, as a 2025 model. VW is going through a similar exploration process, Scott Keogh, the CEO of Volkswagen Group of America told another industry trade publication, Automotive News, this week. In its case, however, it has even more options: The German automaker showed off one possibility at the 2018 New York International Auto Show, a midsize concept based on the same platform as its three-row Atlas SUV; At this year’s New York show, VW revealed a downsized truck concept dubbed Tarok, which offset its short stature by using a creative approach to turn its rear seat into part of the pickup’s bed; With VW already partnering with Ford on light commercial vehicles and discussing a variety of other joint ventures, it could try to negotiate a deal which would let it build a version of the new Ford Ranger that just recently returned to the American market after a lengthy absence. VW previously built a compact pickup in the U.S. during the late 1970s and early 1980s, based on the same platform as its Rabbit hatchback. It is generally expected to lean towards using a car-based platform for an American model, and going with a version of the Tarok concept could be particularly appealing, as Keogh told Automotive News a production model “will be made for the South American market [in 2020]. The question we have is, could something like this make sense, with modifications, in the U.S. market?” Whatever approach they ultimately take, both Mitsubishi and Volkswagen are projected to enter the midsize pickup market in the U.S., rather than the full-size segment. Domestic automakers overwhelmingly dominate that market – which provides General Motors, Ford and Fiat Chrysler with the bulk of their earnings. The two foreign players, Toyota and Nissan, have repeatedly failed to gain more than a toe-hold in the market for bigger, full-size pickups that can to toe to toe with the Ford F-150 or GM’s Chevy Silverado.

CNBC | Mack Hogan

It’s another story in the midsize segment which has long been dominated by imports. Once larger than the full-size segment, demand for model’s like the Toyota Tacoma began to lose steam in the early years of the new millennium and, by the time the industry hit bottom during the Great Recession, Honda and all three of the Detroit manufacturers started to pull out. General Motors decided to give the midsize market another try, however, for 2015 returning with the Chevrolet Colorado and GMC Canyon models. Demand proved so solid that Honda rushed out a new version of its own midsize truck, the Ridgeline. Ford, which continued to produce a version of its Ranger for overseas markets, initially hesitated but, for 2019, it returned with an Americanized version of the truck. And Jeep, which hasn’t offered a pickup since 1992, has just staged its own comeback with the midsize Gladiator. The flood of new products is clearly paying off. The U.S. full-size pickup sales have been hovering at a steady 2.3 million to 2.4 million a year, a figure LMC Automotive expects to hold through mid-decade. Sales of midsize models, meanwhile, jumped from 452,000 in 2017 to 524,000 last year, with the consulting firm predicting that will top 600,000 this year and hit 714,000 by 2025. That’s the sort of lure that has other brands considering their options. That includes Fiat Chrysler, which could revive the Dakota under its Dodge brand or the Ram division, which produces the company’s full-size 1500 and heavy-duty models. Either way, a second midsize model was included in the five-year corporate plan the automaker’s late CEO Sergio Marchionne revealed last June. The problem, Ram brand boss Reid Bigland said in an interview, is coming up with the right business model and choosing the best brand to market it under.

CEO Dr Dieter Zetsche and Volker Mornhinweg, Head of Mercedes-Benz Vans present the new Mercedes-Benz Pickup at a press event held at the art gallery Artipelag in Stockholm, Sweden on October 25, 2016. Vilhelm Stokstad | Getty Images

Yet another entrant could be Mercedes which launched its first-ever pickup, the X-Class, in 2017. Initial plans didn’t include the U.S., but a number of analysts now have a version of the luxury truck on their product forecasts. “The challenge is positioning: should it be a luxury truck or a commercial vehicle,” said Amorim. “I don’t think they know how to sell it and who they would sell it to.” As with almost every other vehicle segment in the U.S. market, pickup trucks have grown steadily larger over the years. The current version of the midsize Chevrolet Colorado is nearly as large as the full-size Chevy Silverado of three decades back. Some in the industry believe that could create a new and even smaller option that could serve as a replacement for the compact pickups that proved particularly popular when Baby Boomers were just starting to take to the highways.

The 2020 Chevy Colorado ZR2 Bison. Adam Jeffery | CNBC


Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: paul a eisenstein
Keywords: news, cnbc, companies, model, segment, fullsize, growing, detroit, version, platform, pickup, vw, market, foreign, challenge, automakers, midsize, truck, pickups, mercedes, mitsubishi


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The 5 US cities where paychecks are growing the fastest

Despite a slow down in job growth earlier this year , wages are continuing to rise as employers try to lure in the top talent in today’s tight labor market. San FranciscoYear-over-year growth: 2.6%Median base pay: $72,030 per yearFor the ninth month in a row, Glassdoor found that San Francisco has the fastest year-over-year pay growth. In San Francisco and New York the median rent is $4,500 and $2,817, respectively, according to real estate site Zillow. Right now, Zhao says, Atlanta seems to be


Despite a slow down in job growth earlier this year , wages are continuing to rise as employers try to lure in the top talent in today’s tight labor market. San FranciscoYear-over-year growth: 2.6%Median base pay: $72,030 per yearFor the ninth month in a row, Glassdoor found that San Francisco has the fastest year-over-year pay growth. In San Francisco and New York the median rent is $4,500 and $2,817, respectively, according to real estate site Zillow. Right now, Zhao says, Atlanta seems to be
The 5 US cities where paychecks are growing the fastest Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: courtney connley
Keywords: news, cnbc, companies, pay, job, growth, rent, fastest, growing, paychecks, cities, san, zillow, zhao, data, median


The 5 US cities where paychecks are growing the fastest

Using data from its platform, Glassdoor looked at the largest cities in the country and determined that these five cities are seeing the fastest wage growth:

Currently, the median base pay for full-time workers in the U.S. is $52,807 per year, according to Glassdoor’s Job Market Report . That’s up 1.4% from April 2018.

Despite a slow down in job growth earlier this year , wages are continuing to rise as employers try to lure in the top talent in today’s tight labor market.

5. New York

4. Los Angeles

3. Seattle

2. Atlanta

1. San Francisco

Year-over-year growth: 2.6%

Median base pay: $72,030 per year

For the ninth month in a row, Glassdoor found that San Francisco has the fastest year-over-year pay growth. However, the site also saw a 2.9% decrease in job openings in the city.

Cities like Los Angeles, New York and Washington, D.C. also saw pay increases and job opening decreases over the past year.

Glassdoor senior economist Daniel Zhao tells CNBC Make It that while these cities may have large workforces, the high cost of living is leading some employers to move to lower-cost areas and recruit untapped talent, creating a decrease in job opportunities in some of the country’s major metro areas.

In San Francisco and New York the median rent is $4,500 and $2,817, respectively, according to real estate site Zillow. That’s compared to the median national rent price of $1,675 per month.

Right now, Zhao says, Atlanta seems to be a “sweet spot” for job-seekers, considering the city’s year-over-year job growth of 7.9% and pay growth of 2.2%. Data from Zillow also shows the median rent in Atlanta is cheaper than the national average at $1,495 per month.

“I think it’s interesting to see these established cities have slower growth than these up-and-coming regional hubs,” says Zhao. “It’s an interesting data point to help recent graduates evaluate where they should relocate to for opportunities on the rise.”

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Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: courtney connley
Keywords: news, cnbc, companies, pay, job, growth, rent, fastest, growing, paychecks, cities, san, zillow, zhao, data, median


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