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%…
Read moreMaximize your profits with our automotive technology solutions that execute VIN-specific strategies via innovative features, including real-time market analysis and inventory management that increases turn, reduces waste, improves margins, and controls risk.
FROM AUTOMOTIVE NEWS: With Few Cars to Sell, Where Do Ad Dollars Go? Whether dealers are cutting budget or doubling down, the average marketing spend per dealership is up 13% from 2020, and the average marketing cost per sold vehicle still exceeds $500. Read More FROM WARDSAUTO: Retailer Lithia Motors Sees New-Vehicle Shortage…
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FROM AUTOMOTIVE NEWS: 25-Day Supply Of Inventory a Record Low Dealers started the month with an unprecedented 25-day supply, just 1.3 million units on hand. This represents a significant 10-day dip in available inventory from the month prior. Read More FROM THE WALL STREET JOURNAL: Selling Your Used Car? You Could Turn a…
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FROM BUSINESS INSIDER: Used-Car Prices Are Finally Starting to Fall From Their Pandemic Peaks, but Deals Are Still Far Away Wholesale prices saw a 1.3% dip in the month of June, and retail values are expected to follow suit in the weeks to come. However, it could be at least a year before dealers start…
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FROM BLOOMBERG: Carmakers Learn to Live With Chip Shortage: Auto Sales Update Nearly 4.4 million new cars were sold in the U.S. last quarter, a 51% increase from Q2 2020. Most major automakers echo this increase with year over year jumps ranging from 30% to over 70%. Read More FROM WARDSAUTO: Car Buying Frenzy…
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FROM REUTERS: Supply Constraints to Slow U.S. Auto Sales Growth in June June retail sales are expected to reach 1.1 million units, a 12.4% increase from 2020 but a smaller jump than previously forecast. Read More FROM BLOOMBERG: Used-Car Prices Are Poised to Peak in U.S. After Pandemic Surge Wholesale vehicle price increases are…
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FROM THE WALL STREET JOURNAL: Americans Are Keeping Their Cars Longer, as Vehicle Age Hits 12 Years The average life cycle of a used vehicle is lasting longer than ever before, especially now that dealers have a new focus on retailing high mileage, pre-owned inventory. Read More FROM BUSINESS INSIDER: Some Second-Hand…
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