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 J.D. Power: September Sales Pace Shows Incremental Improvement; Highest September on Record for New-Vehicle Spending September is expected to end with a 5.4% year-over-year rise in retail sales and a 11.8% increase in total new-vehicle sales. These volume increases are punctuated by a 12% increase in consumer spending, totaling close to $43.7 billion. Read…
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FROM REUTERS: Auto Industry Ad Spend Falls to $4.8 Billion in First Seven Months of 2022, Data Show Without inventory to promote, the auto industry has decreased advertising 4% year-over-year and 12.7% compared to 2019. Despite this dip, digital spending alone makes up 53% of the industry’s total advertising investment. Read More FROM AUTOMOTIVE NEWS:…
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FROM COX AUTOMOTIVE: New-Vehicle Prices Increase for Fifth Straight Month, Set Record Again in August, According to Kelley Blue Book August new-vehicle prices were up 0.5% month-over-month and 10.8% year-over-year, with the average transaction exceeding $48,300. OEMs like Stellantis, Honda, and BMW have all increased prices over 10% this year. Read More FROM AUTO REMARKETING:…
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FROM AUTOMOTIVE NEWS: Ford, Hyundai, Kia Rack up Double-Digit Gains as Market Rebounds; Toyota, Honda Skid Again Light-vehicle sales have remained consistent for three consecutive months, just around 1.13 million units sold. However, August’s sales should be measured on a brand-by-brand basis as top OEMs saw both double-digit rises and falls. Read More FROM CAR…
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FROM REUTERS: Labor Day Weekend Travel to Rebound to Pre-Pandemic Levels Labor Day travel volumes are expected to rise 22% this weekend. After years of restrictions, will the return to air travel have an impact on the COVID-era desire for private transportation? Read More FROM AUTO REMARKETING: Used-Car Retail Prices Turn a Corner While it…
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FROM AUTO REMARKETING: Wholesale Prices Down by 3.6% So Far in August Wholesale vehicle prices have seen significant and consistent drops throughout the first 15 days of the month. Despite these drops, prices for all segments still remain higher than in August 2021. Read More FROM BLOOMBERG: State of the Used Car Market After many…
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