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Dealers a Little Down
A third-quarter Cox Automotive survey finds them in a mixed mood, bummed by fallen customer traffic but encouraged by better profits, costs and EV interest.
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SEARCHMENUSEARCHA third-quarter Cox Automotive survey finds them in a mixed mood, bummed by fallen customer traffic but encouraged by better profits, costs and EV interest.
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Feldman Automotive Group added two new brands, Honda and Toyota, to its portfolio with its latest acquisition of four Fireside dealerships in Ohio.
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The franchisees’ state-level actions follow a California auto dealers trade group lawsuit against the VW affiliate last year, both efforts to stop the EV maker’s plan to sell direct to consumers.
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First-quarter auto sales increased as more consumers took advantage of government incentives. Hybrid deliveries are leading the way on the electrifieds boom.
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At nearly 14%, California had the lowest zero-emission vehicle market share in the first quarter since the fourth quarter of 2021, according to the California New Car Dealers Association.
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EREVs, also known as ‘series hybrids,’ may catch on in the U.S., where they currently have barely a toehold, as automakers tilt away from some purely electric models and consumers crave more range.
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Hybrids in particular lead not only EV market share but all power trains on the continent so far this year as gas and diesel continue their decline.
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Building on a previously announced $26 billion U.S. investment, Hyundai said it will grow its North American lineup and U.S.-based production and parts sourcing.
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Sony-Honda venture cancels two planned models, the first of which had been pegged for a mid-2026 California delivery debut. The brand’s direct sales had been challenged by the state’s auto dealers, but the venture cites Honda’s EV retreat.
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Softening prices, rising credit availability and higher tax refunds could be behind February’s sales pace rise and accompanying dip in inventory, according to Cox Automotive.
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The wholesale automotive market fared remarkably well given the U.S.-Israel war on Iran, Black Book analysts reported.
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