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 a SAAR This Hot, Who Needs Big Incentives? April inventory levels hit a record low 33-day supply, causing incentive spending per vehicle to drop 25% year over year. On average, dealers only spent $3,239 per unit on incentives last month. Read More FROM WARDS AUTO: Consumer Preferences Shifting Amid Pandemic…
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FROM AUTOMOTIVE NEWS: Automakers Rally From Pandemic Low; SAAR Hits 18.5M New vehicle SAAR has topped 18 million units for the second month in a row, with the average year-over-year sales change across reporting OEMs up 126.6%. Read More FROM FORTUNE: Sit Tight, Chip Shortage Likely to Last to 2023, Says Top Supplier to Auto…
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FROM REUTERS: U.S. Auto Dealers Are Winners as Chip Shortage Lifts Vehicle Profits Gross profits per vehicle are skyrocketing due to leaner inventories and reduced ad spending, but some dealers are cautious about what revenue might look like if inventory levels continue to fall. Read More FROM AUTO REMARKETING: Volume Ticks Higher, but With Rougher…
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FROM CNN: Here’s Why Car Prices Are At Record Highs — and Still Rising North American manufacturing is already 3.4 million vehicles behind this year, causing new, used, and wholesale vehicle prices to jump significantly as dealers fight to meet consumer demand. Read More FROM REUTERS: Twelve U.S. States Urge Biden to Back…
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FROM THE WALL STREET JOURNAL: Chip Shortage Is Bad For GM but Worse For Car Buyers Days’ supply has dipped significantly since January, but analysts are looking on the bright side as dealers are holding unnaturally high margins on the inventory they do have. Read More FROM CBT NEWS: EV Production Continues to…
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FROM CAR AND DRIVER: Car Buyers Flocked to Dealers in First Quarter After a Tough 2020 New-vehicle sales were up 8% in Q1 (only a 4.9% dip from 2019) with manufacturers like Volkswagen, Toyota, and Subaru growing by over 20%. Read More FROM WARDSAUTO: Inventory Shortages Keep Used-Vehicle Prices High Used-vehicle prices are currently…
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