See the top headlines! Catch up on the automotive industry’s latest news to plan for your dealership’s continued success.
🗞️ Industry roundup: FROM WARDSAUTO: Dealers brace for BEV, tariff price crunch U.S. auto dealers are anticipating significant price increases due to the 25% tariffs on imported vehicles and parts, which could raise average transaction prices by $6,000 for imported models and $3,000 for U.S. built vehicles. In March, new-vehicle sales surged to 1.59 million…
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🗞️ Industry roundup: FROM REUTERS: U.S. first-quarter auto sales get a lift from looming Trump tariffs U.S. auto sales rose 4.8% in the first quarter to approximately 3.91 million units, driven by strong demand for pickup trucks and SUVs. General Motors led the market with a 17% increase in sales, fueled by popular models like…
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🗞️ Industry roundup: FROM PR NEWSWIRE: Spring optimism boosts U.S. automobile dealer sentiment, despite weak profits, growing costs U.S. auto dealers are entering spring with increased optimism, as the market outlook index for Q1 reaches 58, the highest since 2022, indicating growing confidence for the next three months. While conditions have improved slightly from last…
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🗞️ Industry roundup: FROM WARDSAUTO: Auto market thrives despite rising inventories, economic and political pressures Rising inventory levels, declining fleet sales, and increasing consumer affordability concerns are putting pressure on the U.S. auto market, with negative equity on trade-ins climbing to 25.5% of buyers. Despite these challenges, new-vehicle retail sales are projected to rise 8.1%…
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FROM AUTOMOTIVE NEWS: Toyota slides; Hyundai, Kia, Mazda rack up more U.S. sales gains Light-vehicle sales were expected to rise anywhere from 2.4% to 6.5% last month, and SAAR was supposed to reach 15.5 to 16 million units. As sales numbers start trickling in, reporting OEMs are seeing both increases and decreases of similar proportions….
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FROM CNN: Most new car buyers are now paying less than sticker price Over the course of the last year, the percentage of new car buyers paying above MSRP dropped from 80% to 36%. Today’s shoppers have been able to scrape around $300 off of a vehicle’s average listing price, a far cry from the…
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FROM BUSINESS INSIDER: The pandemic may have ended the auto industry’s age-old battle for market share 2022 showed the industry that profits can remain high even if sales volumes are low. After decades of competing for market share, major automakers like GM and Ford are getting used to a more level playing field, commanding only…
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FROM CNBC: Automakers are cautiously optimistic for a 2023 rebound after worst new-vehicle sales in more than a decade Nearly every major automaker saw year-over-year declines in new vehicle sales last year, with Stellantis, Nissan, and Honda seeing double-digit dips. However, auto executives remain hopeful that the inventory and demand stars will align for a…
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FROM AUTOMOTIVE NEWS: GM reclaims U.S. sales crown; Toyota edges up; Hyundai, Kia post double-digit gains to finish 2022 Fewer than 14 million light-vehicle units were sold in the year 2022 – the lowest recorded sales volume since 2011. Despite the yearly decline, GM bested Toyota as the country’s top-selling automaker after a 41% volume…
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FROM COX AUTOMOTIVE: 10 predictions for 2023 According to analysts, many of 2022’s industry-wide trends will continue on throughout the new year: rising inventory levels, depreciating used vehicles, issues with affordability, and approximately 14 million new units sold. How will your resolutions tackle these trends in 2023? Read More FROM CBT NEWS: 10 retail trends that…
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