FROM J.D. Power: September Sales Pace Shows Incremental Improvement; Highest September on Record for New-Vehicle Spending
September is expected to end with a 5.4% year-over-year rise in retail sales and a 11.8% increase in total new-vehicle sales. These volume increases are punctuated by a 12% increase in consumer spending, totaling close to $43.7 billion.
FROM CNBC: All 50 States Get Green Light to Build EV Charging Stations Covering 75,000 Miles of Highways
The government will provide $1.5 billion to help states develop a network of EV chargers across the nation’s highways. This project aims to solve one of the greatest obstacles standing in the way of increased electric vehicle sales.
FROM The Wall Street Journal: Americans Snap Up Teslas, Bentleys, Lamborghinis as the Luxury-Auto Market Booms
As the difference in price between luxury and non-luxury units continues to narrow, high end consumers remain unphased by market conditions. Luxury vehicle sales made up 17.3% of the total market earlier this year and saw a 13.2% jump in 2021.
FROM WARDS AUTO: ‘It’s in the Shop’ … Longer Than Ever
Trouble on the sales floor has trickled down to the fixed-operations department. The same lack of parts and inventory that is causing consumers to hold on to their vehicles longer is now causing backed up service centers and longer repair wait times.
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