The same factors behind the surge in new-vehicle sales are having the same effect in the used-vehicle market, the NADA Used Car Guide reports.
New York Gov. Andrew Cuomo is demanding that credit bureaus give special allowances for Hurricane Sandy victims. The credit reporting agencies, however, say they are already doing their part.
Used-vehicle prices should have dropped by 2.1 percent in November. Instead, Hurricane Sandy struck and slowed depreciation by 1 percent.
November’s SAAR reached its highest level since the start of the Great Recession, and TrueCar predicts even bigger things for December.
Based on analysis and data from two automotive research and shopping websites, the impact of Superstorm Sandy on the automotive market may be less than previously believed.
The NADA pledges $1 million to the National Automobile Dealers Charitable Foundation, and encourages other dealers to do the same.
Penske Automotive Group estimates the business impact from superstorm Sandy to be hefty, with the dealer group saying that 36 of its stores along the East Coast were impacted and lost about three to four days of business.
F&I insider doesn’t believe GAP is in danger after Hurricane Sandy, mainly because the effected states only account for 5 percent of national GAP sales.
MediaTrac is coming to the aid of dealers affected by Hurricane Sandy by offering them free e-mail campaigns to reach customers.
Several manufacturers are helping victims of Hurricane Sandy with special discounts on vehicles and by donating to the American Red Cross.
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