As consumers continue to seek out vehicle information online, the market research firm says print is in trouble — and so is TV advertising.
CNW Research says refinancing is back, and predicts that the percentage of refinanced auto contracts will top 14 percent in 2013.
The continued loosening of credit standards is helping franchised dealers move those high-mileage trade-ins, with CNW predicting that used-vehicle sales in October will top the year-ago period by 8.1 percent.
In its automotive retail summary, CNW Research reveals the items shoppers are looking for when they pop onto a dealership’s mobile site.
Driven by an uptick in subprime loan approvals, the industry bounced back in July after a tough June. But an increasingly jittery consumer may put the brakes on sales going forward.
CNW Research reports that the industry took some hits in June.
Two dealers report substantial increases in sales and F&I profitability, while CNW predicts the industry will close May in the 1.37 to 1.41 million-unit range.
As of May 18, sales are on track for a 6 percent increase vs. a year ago despite a dramatic slowdown in closing ratios, CNW reports.
If the first 20 days are any indication, vehicle sales could increase 8 percent this month from a year ago to 1.35 million units, CNW Research reported today.
Despite a rise in gas prices, data from the first 15 days of February indicates that vehicle sales could rise 7 percent to 1.1 million units this month, according to CNW Research.
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