The market research firm says improvements in several key metrics last month are setting the stage for a spring rebound in vehicle sales.
CNW Research says the government shutdown was like ‘putting a dam on a river.’ But when will that pent-up demand be released?
CNW Research issued a warning this week, reporting that lease contracts have been overestimating residual values by roughly 14 percent in 2013. The firm expects automakers to lose between $5 billion and $8 billion within three years.
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.
CNW’s June retail automotive summary reveals the average age of new-vehicle primary drivers fell to its lowest level since 2005, a sign that younger buyers are entering the market.
CNW Research expects May deliveries to rise 6 percent vs. the same period last year, but says there are some worrisome trends to watch.
Compared to March, April’s subprime loan approval rates fell by nearly 4 percent, according to CNW Research. The firm’s monthly automotive retail summary, however, shows a year-over-year increase in subprime approvals.
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