This week, read how the industry is toughening up against looming concerns. February saw sales gains for nearly every reporting OEM, while CPO numbers continue to set records. Plus, why car owners are winning the battle for mobility.
FROM AUTOMOTIVE NEWS: Toyota, Honda, Hyundai Rack up Gains in Feb.
President’s Day sales resulted in YOY gains for nearly every reporting automaker and pushed February’s SAAR to 16.5 million units. The month also tracked its highest incentive spending ever, with offerings averaging $4,179 per unit.
FROM REUTERS: Americans Keep Buying Cars, but Coronavirus Concerns Loom Over Industry
Effects of the growing disease have yet to hit American dealerships, with February’s projected monthly sales increase at 1.8% year over year. However, dealers should still be on the lookout for altered price offerings, softened demand, and slimmer supplies in the coming weeks.
FROM AUTO REMARKETING: Best CPO January in 10 Years
2020 kicked off with unprecedented CPO sales thanks to increased OEM promotion and the continued battle with affordability. Analysts predict 4.1 million models will come off lease throughout the year, and annual sales will hit around 2.8 million.
FROM BLOOMBERG: Even a Mobility Revolution Can’t Crack American Car Culture
Research has found the rise of ride-sharing has done little for the decrease of car ownership or the average number of miles traveled per person. Why? Mobility services seem to have the strongest impact on already-carless consumers.