LotLinx Weekly News Vol. 211: When It Rains Profit, It Pours

FROM REUTERS: U.S. Auto Sales to Fall in April on Tight Inventories, Rising Rates

April new vehicle sales could dip over 20% year over year as fewer than 900,000 units currently sit on dealership lots. SAAR is expected to slip to 14.5 million units as the month comes to a close.

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FROM FORBES: High Car Prices: Temporary, or ‘New Normal?’ Naturally, Dealers Prefer the Latter

Proactive dealers are preparing for the day prices level out by introducing new ways to maintain profitability, such as offering new services and keeping marketing and administrative expenses low.

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FROM WARDSAUTO: Parts, Service Business Rebounding From COVID-Induced Slump

Miles traveled is up 10.6% year over year, meaning drivers are in need of more frequent vehicle maintenance. Major dealer groups are reporting significant increases in parts and services revenue from years prior.

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FROM AUTOMOTIVE NEWS: U.S. Saw Record Number of Automotive Recall Campaigns in 2021, but Fewer Vehicles Affected

While light-vehicle recall campaigns affected fewer than 22 million units last year, over 8.9 million units have already been impacted by software and physical recalls in 2022.

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