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: Shifts in Used-Vehicle Market Cut Into Proceeds, Trigger Resets Due to inflation and rising interest rates, consumers are seeking vehicles at lower prices. While demand is still high, buyers are becoming more critical of their purchases, and dealers – who once had plenty of customers for every vehicle – are feeling the…
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FROM CAR AND DRIVER: Electric Cars’ Turning Point May Be Happening as U.S. Sales Numbers Start Climb Overall EV market share has reached a record 4.6%, a slow but progressive movement. It is anticipated that 25-30% of all new vehicle sales will be electric by 2030. To expedite this growth, public charging must be readily…
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FROM AUTOMOTIVE NEWS: July U.S. Auto Sales: Honda, Toyota Volume Skids; Hyundai, Kia Sales Slide 5 Straight Months; Mazda Off 29% While Hyundai and Kia have seen reductions in vehicle sales for the 5th consecutive month, Toyota and Honda have recorded these drops for the past year. July’s SAAR s predicted to fall between 13…
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FROM J.D. POWER: July New-Vehicle Sales Pace Still Constrained but Transaction Prices and Dealer Profits Remain at Record Levels July sales results are trending downward with a predicted 10.8% drop in retail sales and a 0.9 million unit drop in SAAR compared to this month last year. Demand should continue to outweigh supply as the…
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FROM COX AUTOMOTIVE: Used-Vehicle Market Looking More Normal in Inventory as Prices Inch Down Unsold used car inventory has increased by 5% from the prior year to 2.46 million units. Used-vehicle costs have started to gradually decline while analysts anticipate sales to remain strong. Read More FROM REUTERS: For Auto Retailers, Pandemic-Era Profit Boost in…
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FROM THE WASHINGTON POST: June Inflation Soared 9.1%, a New 40-Year High, Amid High Gas Prices With prices rising 1.3% in June over May and 9.1% year over year, inflation isn’t showing any signs of slowing down. The largest driver of inflation is the staggering 41.6% energy index increase, the largest annual increase since 1980….
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