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The latest report from the Automotive News Data Center finds U.S. franchised dealers were sitting on nearly 3.8 million new units as of Aug. 1, a 27-year high.
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U.S. manufacturers and dealers are knocking on the door of the all-time record for days’ supply of new vehicles, an issue compounded by higher floorplan expenses, according to the latest figures from Automotive News.
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The company that aims to change the way dealers sell, source, acquire, and deliver used cars announced it has raised an additional $7.5 million in equity capital. Launched in mid-2015, the Chicago-based startup has now raised $17.5 million in funding.
Read More →Toyota Financial Services saw a 17% rise in conversion rates during a 16-week trial of Manheim’s Enhanced Vehicle Imaging. The results of the trial were documented in a recent case study released by both organizations.
Read More →Flick Fusion is collaborating with ZMOT Auto, an automotive digital velocity firm, to produce vehicle inventory videos with voiceovers in a conversational style for Spanish-speaking car buyers.
Read More →Flick Fusion has acquired Dealer Fusion, a video marketing provider. The company will integrate features and applications from Dealer Fusion’s video platform and make them available to customers of both services.
Read More →Andriod users can now appraise, stock, buy and sell automotive inventory through DealerMatch’s dealer-to-dealer marketplace using their mobile devices.
Read More →Used-vehicle sales in May increased nearly 11% from April, according to CNW. Franchised dealers led the way with a 4.3% increase in sales vs. one year ago, while independents realized a 3.4% increase.
Read More →New Jersey’s Mahwah Kia filed a lawsuit against Kia Motors America. The manufacturer allegedly terminated the store’s franchise agreement for poor performance, but the dealer claims KMA did not make enough inventory available.
Read More →RedBumper’s new SmartPrice tool will automatically adjust retail prices by analyzing market supply and demand in real time.
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