MENU
SEARCHSales consequently robust, also aided by increased discounts.
New-vehicle sales jumped 9% in April for a 15.9 million sales pace, exceeding analyst forecasts.
IMAGE: Pixabay/andreas160578
U.S. new-vehicle inventory reached a two-year high in April, allowing for increased sales, according to a Cox Automotive report.
Supply ended the month at 1.9 million units, up 71% year-over-year, according to Cox’s analysis of vAuto Available Inventory figures.
Days’ supply fell month-over-month from 57 to 53 but was up 47% year-over-year. Cox said 60 days’ supply has historically been the industry normal.
“New-vehicle inventory continues to improve, supporting a pick-up in the sales pace,” said Cox Senior Economist Charlie Chesbrough.
“Clearly, pent-up demand is being unleashed. How much pent-up demand exists is the question. We still expect sales to slow in the second half as economic headwinds, particularly rising interest rates, grow.”
New-vehicle sales jumped 9% year-over-year for a 15.9 million sales pace, exceeding analyst forecasts, partly on the strength of sales into fleets, Cox said. It pointed out that discounts and leasing continued to increase.
Inventory for Cox’s analysis is based on vehicles on dealer lots or in transit, and days’ supply reflects the most recent 30-day daily sales rate.
Originally posted on Auto Dealer Today
Feldman Automotive Group added two new brands, Honda and Toyota, to its portfolio with its latest acquisition of four Fireside dealerships in Ohio.
Read More →
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.
Read More →
First-quarter auto sales increased as more consumers took advantage of government incentives. Hybrid deliveries are leading the way on the electrifieds boom.
Read More →
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.
Read More →
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.
Read More →
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.
Read More →
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.
Read More →
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.
Read More →
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.
Read More →
The wholesale automotive market fared remarkably well given the U.S.-Israel war on Iran, Black Book analysts reported.
Read More →