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 COX AUTOMOTIVE: Wholesale used-vehicle prices see smaller decline in October Wholesale used-vehicle prices saw another 2.2% dip last month, leaving prices 10.6% lower year-over-year. Luxury cars and SUV/CUVs saw the most significant price declines, 13.6% and 12.4% respectively. Read More FROM AUTOMOTIVE NEWS: EV registrations in U.S. rise 57% in September as Tesla rivals…
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FROM AUTOMOTIVE NEWS: Toyota rebounds again; Ford, Honda slide; Hyundai, Kia advance 3rd straight month Some October sales highlights: SAAR rose to 14.9 million units; Toyota ended the month with just a 20-day supply; EV sales rose 101% at Kia; 50% of Ford retail sales came from pre-orders; and Subaru saw its biggest sales gain…
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FROM J.D. POWER: Supply increases help October sales pace improvement; highest October on record for spending on new vehicles Monthly new-vehicle sales are expected to rise 12.1% year-over-year in what could be one of the most lucrative sales months on record. Buyers are on track to spend over $46 billion on new inventory before the…
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FROM AUTOMOTIVE NEWS: U.S. vehicle inventories at highest point since June 2021 Inventory levels are up over 500,000 units year-over-year and 90,000 units month-over-month to make up a 42-day supply. Full-size pickups and luxury cars are leading the growth, while midsize and compact car stocks remain tight. Read More FROM AUTO REMARKETING: Expectations for wholesale…
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FROM CNBC: New cars are finally back in stock — but Americans might not be able to afford them Is pent up demand a fair match for the current financial climate? This year, federal interest rates have grown to 3.25%, average new vehicle financing now exceeds $41,300, and the number of consumers making payments of…
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FROM AUTOMOTIVE NEWS: Market Rebounds in September, Dips in Q3 September 2021 was one of the slowest selling months since the start of pandemic-related declines. This year, September ended with a 13.7 million SAAR, while U.S. light-vehicle sales saw a 0.4% decrease throughout the third quarter. Read More FROM THE WALL STREET JOURNAL: As More…
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