FROM COX AUTOMOTIVE: November new-vehicle sales expected to jump 10.8% year over year, as inventory levels continue to improve
New-vehicle sales forecasts are predicting significant spikes this month, specifically for compact SUVs, mid-size cars, and compact cars. Dealers started November with the highest inventory levels since May 2021, an average supply of 49 days.
FROM CBT NEWS: Toyota’s October vehicle production beat target by 23%
More evidence of rebounding inventory: the world’s highest selling automaker continues to exceed its manufacturing projections month after month, this time by 23%. The automaker is expected to produce close to 9.2 million units this fiscal year, up from 8.6 million last year.
FROM WARDSAUTO: How high will new car profits go?
Nearly 80% of dealers report either meeting, exceeding, or far exceeding their revenue goals over the last 12 months thanks to record-high profits per unit. But, inventory levels and interest rates could throw a wrench into the trend of pricing above MSRP.
FROM CNBC: Tesla is still dominant, but its U.S. market share is eroding as cheaper EVs arrive
The number of available EVs is expected to triple in the next three years, challenging Tesla’s hold on the electric market. The automaker’s market share has dipped from 71% to 65% year-over-year and is expected to sink to 20% by 2025.
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