FROM AUTOMOTIVE NEWS: Shifts in Used-Vehicle Market Cut Into Proceeds, Trigger Resets
Due to inflation and rising interest rates, consumers are seeking vehicles at lower prices. While demand is still high, buyers are becoming more critical of their purchases, and dealers – who once had plenty of customers for every vehicle – are feeling the pressure.
FROM CBNC: How the EV Tax Credits in Climate Bill Could Hurt Electric Vehicle Sales
Tax credits have been used by the federal government to encourage the adoption of EVs and reduce the industry’s dependency on fossil fuels. But, with new sourcing and manufacturing stipulations, roughly 70% of electric vehicles would be ineligible for the credits, posing a great threat to sales.
FROM USA TODAY: Gas Prices Drop Under $4 Nationwide for First Time in Months. Will They Continue to Fall?
It’s been five months since pump prices have been as low as $4. Decreased demand and changing oil costs are main factors for this steady decline, providing a great relief for drivers.
FROM CBT NEWS: Selling Off-Brand Used Vehicles? Tips to Retain These Buyers
Off-brand vehicle sales have increased as a result of the lack of new cars in the market, but keeping these customers proves more difficult than brand-known buyers. Proactive dealers should adopt strategies to keep these customers coming back.
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