Implement a few smart service strategies to acquire cars and keep profits high when inventory is low. A lot has been said about the current inventory shortage—causes, effects, and predictions about how long it will last. But one aspect that has flown under the collective automotive retail radar is that many dealers are thriving now. These dealers are sourcing vehicles and staying profitable, despite facing the same industry obstacles.
May 1, 2022
The industry saw 14.3% month over month growth, but CPO sales still fell 23.3% short of 2021 sales for the same month.
April 20, 2022
Manheim Market Report values saw weekly price increases that accelerated in each full week of March after the first week saw the smallest decline thus far this year.
April 11, 2022
The U.S. auto industry has no shortage of buyers currently, but it lacks the inventory to satisfy them.
April 6, 2022
March U.S. auto sales, when reported on Friday, will show a notable drop from last March as the market remains significantly constrained by lack of supply.
March 29, 2022
The added cost to fill up impacts everyone differently, and high prices tend to drive further interest in fuel-efficient vehicles and, of late, electric vehicle solutions.
March 23, 2022
Facing a slow start to the year, and with concerns over inflation and the economy, automobile dealer sentiment softened in Q1, marking the third consecutive quarter-over-quarter decline in current market sentiment.
March 9, 2022
Tesla’s Model Y could overtake BMW as the top-selling luxury model when its plant opens in Texas.
February 15, 2022
Industry analysts predict U.S. auto retail sales will dip in January as manufacturing slows.
January 27, 2022
Kelley Blue Book has pulled out 10 interesting takeaways from last year’s market performance – a final look at 2021.
January 27, 2022
The 12th annual Cox Automotive Car Buyer Journey Study reveals that overall car buying satisfaction remains at a near-record level, with the number of highly satisfied buyers higher than before the pandemic.
January 19, 2022
The Cox Automotive Service Industry Study finds that as dealerships leverage technology to enhance the customer experience, they can capture more service market share.
January 18, 2022
Cox Automotive's Manheim Used Vehicle Value Index rose 1.6% in December compared with November.
January 11, 2022
Dealertrack data show new and used retail sales modestly gained against 2019 pre-pandemic levels in the final week of the year.
January 6, 2022
Toyota sold 2.332 million vehicles in the U.S. in 2021, compared to 2.218 million vehicles for General Motors.
January 4, 2022