MONTVALE, N.J., July 1, 2015 /PRNewswire/ -- Mercedes-Benz USA (MBUSA) today reported record June sales for the Mercedes-Benz brand at 28,044, climbing 5.8% from the 26,506 vehicles sold during the same month last year. Sprinter delivered a 10.9% increase in June to 2,442, combining with 774 units at smart for a monthly total of 31,260 for MBUSA. On a year-to-date basis, Mercedes-Benz retails totaled 164,970, up 8.8%. Adding sales volumes of 13,534 for Sprinter and 3,624 for smart, MBUSA achieved a record grand total of 182,128 units for the first six months of 2015. Read more.
Seems like Mercedes is having a booming year here in the U.S. That likely means no more price discounting for now. As a result I don't expect the euro to slide much further except of course, on a referendum-inspired panicky spike on Sunday-Monday (July 5-6) if the vote goes "NO."
Outside of that the euro is likely to continue range trading. You have to buy dips for now and sell near the upper end of the channel (1.13-1.15). Probably best to do nothing for now and wait until Sunday and the vote.
5 comments:
And Mike there is really good deals on the VWs out there too...
I think the MSRP on a Jetta may be in the $17k range.... that's pretty good...
I think bearish JPY vs USD may be a way to play this... the Japanese are going to have to counter....
rsp,
And USDJPY "feels" like it's trading that way.
"Seems like Mercedes is having a booming year here in the U.S. That likely means no more price discounting for now. As a result I don't expect the euro to slide much further"
Mike, what is the connection between demand for MBs and the value of the Euro? Are you saying MBs market is so large that its sales can change the value of the Euro?
Thanks,
Simon perhaps think: "its about price not quantity..." rsp,
Matt, can you elaborate?
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