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Used Market Stabilizes
The Carfax Used Car Index noted a major drop in used-vehicle price increases in July after several months of hikes.
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SEARCHMENUSEARCHThe Carfax Used Car Index noted a major drop in used-vehicle price increases in July after several months of hikes.
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Letter penned by Canadian Trade Minister Mary Ng suggest proposed EV tax credits will harm North American auto industry and violate trade agreements.
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IHS Markit forecasts lows in light-vehicle sales and production will give way to increases ahead.
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As the automotive industry spins its wheels waiting for chips, analysts say the road to correcting the chip shortage won’t clear until at least 2022.
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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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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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While it’s true that disruptors have taken some pre-owned market share from dealers, there is nothing these retail outlets are doing that dealerships can’t do even better.
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According to Twinner, the average dealer group can expect to increase its turn rate by 15 percent and save up to $400 per car.
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BMW is faring better than GM, and car dealers are coping better than component suppliers.
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Report finds that the industry continues to rely on technology and customer feedback to improve the increasingly digital car-buying experience.
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