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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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Risk management tool intended to help dealership industry reduce large losses.
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The overall market continued to decline this past week, but the rate of depreciation lessened, and some segments reported positive pricing movement.
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Urban Science’s midyear Automotive Franchise Activity Report puts average throughput at 910 new vehicles per store this year.
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Days-to-turn for used retail listings have been increasing, as retail demand softened over the last few weeks.
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Independent dealers are securing sought-after vehicles despite tight inventory.
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LMC Automotive expects the semiconductor shortage to cut production in North America by about 452,000 units over the remaining months. The company also expects the chip shortage to impact production by about 1.5 million units.
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Record-breaking buy/sell activity might trim the total number of automotive dealership owners, but it will brighten the future for those left behind.
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The company will idle plants in Flint, Michigan; Fort Wayne, Indiana; and Silao, Mexico, just one week after the plants resumed production after an earlier shutdown related to the shortage.
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Ford presently offers only five key vehicle models in the country including its flagship EcoSport and Endeavour models, which are now losing share to newer competing products.
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Kerrigan Advisors’ Founder Erin Kerrigan predicts unprecedented buy/sell activity through 2022.
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