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While sales of new vehicles declined 13.4% year over year in Q3 due primarily to low inventory and high prices, sales of electrified vehicles jumped by nearly 60%, according to an analysis by Kelley Blue Book.
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New trend helps brands like Honda and Nissan see the value of modernizing their lease policies, reports Swapalease.
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Traditionally, values would be declining this time of year, but the lack of inventory continues to be the most common sentiment for the increased auction activity pushing values up.
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Global Data has downwardly revised its real GDP growth forecasts by 0.14 percentage points (pp) for Germany, 0.23pp for Japan, 0.45pp for the US and 0.25 for China.
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Advanced technology now found in used cars presents F&I opportunities for dealers, according to a study by Protective Asset Protection.
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Toyota Motor Corp. and Stellantis have announced plans to build battery factories in North America to meet the U.S. government’s push for electric vehicles and the batteries that power them.
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Cox Automotive and LMC report new-vehicle inventories shrank to just over 915,000 in September and predict further shrinkage as production issues and supply shortages linger.
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The acquisition builds on KAR’s fast growth in the dealer-to-dealer segment.
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Automakers hope to use 5G in big ways, such as downloading software updates on the go, updating digital maps, and sounding alerts about road conditions.
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Automakers remain divided over the larger tax credit for EVs built in Union shops and other measures in the green energy plan.
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