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The Massachusetts attorney general cautioned the state’s automotive dealers to be upfront with the consuming public about their vehicle prices or risk punishment.
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CarGurus.com reveals the average listing price for a new electric vehicle stood just under $60,000 at the end of June, marking a 13% increase since February.
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Auto industry inventory levels sat between 1 million and 1.1 million vehicles for the sixth consecutive month in June, according to Cox Automotive.
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The National Automobile Dealers Association issued its analysis of U.S. auto sales and the economy for the second quarter of 2022.
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The Retention Index increased again during June to 191.5 points, even as we saw weakening consumer demand.
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As automakers report second quarter results, analysts say a market rebound may be on the way.
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BYD sold 638,157 electric or plug-in hybrid passenger vehicles in the first six months of 2022 compared to 564,743 from Tesla.
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Ford Motor Co. reported nearly a 32% increase in U.S. sales in June, as it improved truck and SUV deliveries and rolled out an all-electric pickup.
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Used Retail Prices are more accessible than in years past, due to the proliferation of ‘no-haggle pricing’ for used-vehicle retailing, according to Black Book.
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As a part of this transaction, Lithia also acquired Esserman International which consists of Esserman Acura and Esserman VW in Doral, FL.
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According to the Cox Automotive June sales forecast, the seasonally adjusted annual rate (SAAR) of new-vehicle sales this month is expected to hit 13.8 million, up from last month’s 12.7 million pace but well below last year’s 15.5 million level.
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