FROM KELLEY BLUE BOOK: Don’t Expect Many July 4 Car Deals This Year
Due to almost record-high new vehicle prices in May, dealers are unlikely to offer any discounts during this holiday weekend. Shoppers on the lookout for deals should be flexible, buy used, and stray away from popular models.
FROM FORBES: U.S. Auto Sales Forecast Gets Another Haircut, Mostly Due to Low Supplies
Analysts have cut the yearly auto sales forecast again, bringing the number down to 14.4 million units – 1.6 million less than in the start of the year. Available new vehicle inventory is down 21% from last year, and 70% less than 2019 – just over 1 million units.
FROM J.D. POWER: The World Experienced a Pandemic – and Initial Vehicle Quality Got Sick
Vehicle quality has dropped drastically in the wake of the pandemic, 11% or 18 PP100 (problems per 100 vehicles) worse than the previous year. Luckily, brands like Buick, Dodge, and Chevrolet have bested the industry average of 180 PP100.
FROM AUTOMOTIVE NEWS: FTC Proposal Would Crack Down on Car Dealers’ Websites, F&I Offices
A new proposal from the Federal Trade Commission plans to regulate aspects of the automotive sales process, such as prohibiting “junk fees,” misleading price advertising, and products without benefits, and regulating price and product disclosures.
Enjoyed this roundup? Subscribe to LotLinx News for weekly automotive industry-updates direct to your inbox.
Want more top headlines? Catch up on past editions of LotLinx News.