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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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Subaru FY2020 profits plunged by half as automaker grapples with the pandemic, microchip shortage and other factors.
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Car segment gains ticked up slightly this past week (+1.25%) compared to the week prior (+1.17%).
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Data shows strength in dealers bidding and buying across physical locations, Simulcast, Manheim Express, Manheim.com and OVE.
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As the semiconductor shortage slashes vehicle production, rental car companies are taking extreme measures to bolster their fleets. The businesses are buying used vehicles at auction.
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Retail inventory levels, new and used, continue to be a challenge and the limited availability of quality vehicles in the wholesale market is also proving to be a challenge for buyers.
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If more dealers sold VSCs to their own customers, it would be extremely effective in re-directing this marketplace back to dealerships, which is where these products historically were sold.
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Enriched features help dealers save time, puts account information at their fingertips.
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The Toyota brand led the latest signs of a recovering and booming market with the automaker putting its preliminary seasonally adjusted, annualized rate of sales at 17.8 million.
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The Cox Automotive Industry Insights team is forecasting a sales pace of 16.5 million in April, down from the surprise 17.7 million in March, but a healthy number nonetheless.
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It’s a natural reaction for dealerships to respond to uncertainty by hitting pause on operations, but this lacks the balance needed to come out stronger on the other side.
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