While sales of new vehicles declined 13.4% year over year in Q3 due primarily to low inventory and high prices, sales of electrified vehicles jumped by nearly 60%, according to an analysis by Kelley Blue Book.
Cox Automotive and LMC report new-vehicle inventories shrank to just over 915,000 in September and predict further shrinkage as production issues and supply shortages linger.
The service customer/service department relationship is built on trust. If your customers don’t trust you to be open, upfront, and honest, they won’t trust you with their business. When you increase your efforts to improve communication throughout the service process, you build trust with your customers and boost your bottom line.
Automobile sales in September are forecast to slow for the fifth straight month, as tight inventory, high prices take a toll on the industry.
Current inventory levels rest at a 31-day supply for U.S. dealers, reports Cox Automotive subsidiary vAuto.
The slowing auto market will lead Cox Automotive to revise downward its full-year new-vehicle sales forecast.
August will be a fourth consecutive month of slowing sales and looks to be coming in even lower than our forecast of 1.2 million, a 9% decline from August 2020.
The frenzied sales fever that pushed new car sales to record heights is cooling, with demand for pre-owned vehicles returning to more normal levels.
The way people want to buy cars has changed, and those changes are here to stay. Here are a few ways dealerships can lean on their auto dealership software to appeal to today’s consumer shopping habits.
A majority of dealership leaders – approximately 65% – report they plan to increase the total number of employees in the dealership this year.
media brand
The secure and easy all-access connection to your content.
Bookmarked content can then be accessed anytime on all of your logged in devices!
Already a member? Log In