MENU
SEARCHJuly numbers reflect market volatility following weeks-long software shutdown following cyberattacks.
Used-vehicle days’ supply fell from 53 to 41 in July.
Pexels/Erik McIean
Used-vehicle sales jumped in July after the CDK Global software outage ended in the first week of the month.
The 28% surge translated to 1.6 million units sold for the month through franchised and independent dealers, according to Cox Automotive estimates. That’s up 17% year-over-year.
Days’ supply fell from 53 to 41.
“July experienced a noticeable increase in used-vehicle sales, likely signaling a healthy used-vehicle retail market plus some recovery of lost sales from June,” said Cox Senior Analyst of Economic and Industry Insights Scott Vanner.
The certified preowned segment was also up, by 2% to nearly 212,000 units, though volume was down 9% year-over-year, Cox said. Year-to-date CPO sales are so far down about 2% year-over-year.
DIG DEEPER: Navigating the Upside Down
Originally posted on Auto Dealer Today
The North Miami store features the brand’s signature Destination Porsche design concept, combining contemporary architecture and technology to create what the auto group calls an ultra-luxury experience.
Read More →
The two-story Cadillac dealership is being constructed at the former Lincoln Yards site, owned and operated by Canada-based Jack Carter Auto Group.
Read More →
A growing Maryland automotive group is only the 93-year-old dealership’s third owner after its longtime proprietors retired.
Read More →
Barrington Porsche will be the new location for Murgado Automotive Group’s existing Porsche dealership currently in the Motor Werks of Barrington auto mall.
Read More →
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 →