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May new-vehicle sales grew by 4.8% from the year-ago period, while average incentive spending per unit grew 6.6% from a year ago to $3,740.
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With the car market having plateaued after several years of increases, the California New Car Dealers Association said it continues to see increasing demand for larger, more family-friendly vehicles. But with gas prices continuing to increase, that trend could shift in the quarters ahead.
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Less price-sensitive buyers splurged for the latest models in April, with the industry’s average transaction price rising 2% from a year ago despite rising fuel prices.
Read More →It’s not just the wave of off-lease vehicles expected to return to the market this year and next, it’s the type of vehicles returning that could stunt new sales. Rising interest rates, however, could turn the tide for the new-vehicle market.
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Average incentive spending in February is poised to fall for the first time since 2013 due to lower spending by Domestic manufacturers on trucks and SUVs. The two firms also project a 400,000-unit decrease in the SAAR and a 3% decline in retail sales.
Read More →Used-vehicle value pricing continues to return to pre-hurricane levels but overall remains high, the firm reported this week.
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December’s average transaction price for a new vehicle rose nearly 2% from a year ago to a record high of $36,113, the firm reported last week.
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Total new-vehicle sales didn't grow for the first time since the Great Recession, but the American International Automobile Dealers Association said last week its member dealers remain optimistic about 2018.
Read More →Underperforming van and car segments led to a decline in J.D. Power's used vehicle price index in November, a reversal from the index's previous three months of consecutive growth.
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The fourth-quarter reading of the Cox Automotive Dealer Sentiment Index shows dealers are optimistic about the next three months. Concerns about price pressure and showroom traffic persist.
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