Despite fewer shoppers, used-vehicle sales were up 3.9 percent. Leading the way were franchised dealers, which retailed 5.44 percent more used vehicles than a year ago.
Incentives are up 40 percent so far this year, and the uptick is driving more consumers to pull the trigger a lot sooner than they expected, CNW Research reports.
August’s Jitters Index experienced a record 1.72 increase over last year, indicating that car sales could be headed for a slowdown, CNW Research reports.
Hispanic car buyers are expected to make up 13 percent of new and 14 percent of used sales in the next few years, according to data collected by CNW Research.
This month, same-store deliveries are up nearly 6 percent while new floor traffic beat out last year’s numbers by 24.7 percent. Based on the data, CNW expects sales to rise at least 8 percent.
Floor traffic hit nearly 11 percent in the final days of July. Closing ratios and same-store sales were also up.
The first 20 days of July has the market research firm predicting a 7 percent gain in deliveries from a year ago. CNW also spots an incentive war brewing on the horizon.
Franchised dealers are expected to realize a 3.35 percent increase in used-vehicle sales, while independents should be up 3.82 percent, CNW said today.
According to CNW Research’s latest findings, June deliveries are expected to jump 9 percent to 1.4 million units.
Below-prime consumers are sticking with sensible and durable vehicles, according to CarFinance.com’s Top 10 list of most frequently refinanced vehicles.
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