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The seasonally adjusted Retention Index increased to 180.2 points, continuing to hit records.
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The fourth quarter is traditionally when the market experiences most of the yearly depreciation, but after just one month in the quarter, values are reporting appreciation of more than 3.0%.
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Industry analysts suggest it could cost dealers hundreds of thousands annually to comply with the new rules.
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The average price of a new car hit $45,000 in September and reached $25,000 for the average used car, according to Kelley Blue Book.
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High demand amid limited new vehicle inventory has driven up used vehicle prices. But it’s also impacting the rate their values are depreciating.
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Presented by F&I and Showroom magazine and sponsored by Spectrum Automotive Holdings, the annual awards program recognizes dealerships with highly profitable F&I departments.
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Technology provides sellers with actionable repair suggestions and buyers with improved quality vehicles.
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Lease credit approvals reached 67.6% in September; Down from 71.3% in August, according to Swapalease.
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Agency updates Safeguards Rule to better protect the American public from breaches and cyberattacks that lead to identity theft and other financial losses.
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A strategic partnership with CDK Global will integrate Conversica’s Automotive Sales AI Assistants into CDK Elead CRM, offering automotive dealerships a competitive advantage.
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