TAG SEARCH RESULT: new-vehicle sales

June’s annual percentage rate of 5.82% marked a 17% increase since January 2018. Add rising rates to a virtually saturated U.S. market, record-high vehicle prices, and historically high numbers of people who owe more than their cars are worth, and the stage is set for a market contraction, the firm said.

Dealer tech expert has a process for converting your new-car operation into an Amazon-like online marketplace.

May new-vehicle sales grew by 4.8% from the year-ago period, while average incentive spending per unit grew 6.6% from a year ago to $3,740.

Less price-sensitive buyers splurged for the latest models in April, with the industry’s average transaction price rising 2% from a year ago despite rising fuel prices.

Average incentive spending in February is poised to fall for the first time since 2013 due to lower spending by Domestic manufacturers on trucks and SUVs. The two firms also project a 400,000-unit decrease in the SAAR and a 3% decline in retail sales.

December’s average transaction price for a new vehicle rose nearly 2% from a year ago to a record high of $36,113, the firm reported last week.