Report shows interest rates, continued high prices cramping volume.
Figures based on latest Kelley Blue Book average transaction price data.
An ‘insights-driven’ upgrade to vAuto’s Conquest platform was designed to drive new efficiencies in the dealer-to-dealer new-unit trading process.
Edmunds said this week the industry is on pace to break the previous December sales record set in 2004. It predicts the industry will retail 1.7 million units in December, a 29.7% increase from November and a 12.3% increase from a year ago.
Because of the timing of Labor Day, August new-vehicle sales will not get the boost they got last year from the holiday sales weekend. But KBB analysts still expect August sales to 'remain robust.'
Consumers are back in the borrowing business, with November consumer credit data from Equifax showing that nonmortgage credit balances rose to their highest level in five years.
Gen Y consumers have accounted for 26% of new-vehicle retail sales in the past year, putting sales attributed to that generational group ahead of Gen X for the first time.
The number of people employed by the automotive retail industry topped the 1 million-person mark last year, with the average new-car dealership employing, on average, 57 people, the NADA reports.
New-vehicle sales are expected to rise nearly 2% year over year to 1.48 million units, Kelley Blue Book reports. The firm also expects the industry SAAR to be at its highest level for March since 2007.
Edmunds.com predicts new-car sales in 2014 will reach 16.4 million units, the highest since 2006. The vehicle information site also estimates the industry will close out 2013 with 15.5 million new vehicles sold.
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