According to the latest NIADA Business Confidence survey, dealer outlook for Q3 retail sales growth was less optimistic than growth expectations for the second quarter, although there was an uptick in the number of respondents who thought sales would remain the same.
May brought with it two fewer selling days and year-over-year sales declines for most manufacturers. Only four manufacturers — FCA, Hyundai, Kia and Volvo — performed better last month than the same period last year.
The percentage of alternative-fuel vehicles in the overall automotive market has dwindled over the last three years, the NADA Used Car Guide said this week. Hybrids continue to make up the majority of the alternative fuel market, but data does show consumers are beginning to shift toward electric vehicles in greater numbers.
F&I product providers and agents are keeping a close eye on used-vehicle prices, which they say are trending right into the hands of F&I offices.
The NADA Used Car Guide's used-vehicle price index slipped 0.3% in January, with sales volume coming in 4% lower than the same period last year.
The dealership becomes the exclusive MOTOR TREND Certified Dealer in Memphis, Tenn. The operation was selected because of its history of excellent customer reviews and outstanding service, official said.
Asbury Automotive Group reported this week that it’s F&I operations realized a $55 per-copy increase in the fourth quarter, with the group averaging $1,426 in gross profit per vehicle retailed during the end-of-year quarter.
The Federal Reserve voted unanimously today to increase its target funds rate by a modest quarter point. One market research firm believes that could cut into sales by 150,000 units.
In its 29th year, J.D. Power’s U.S. Sales Satisfaction Index Study showed that the use of technology tools like tablets and computer displays resulted in higher customer satisfaction.
Ford is now syndicating its dealers’ new-vehicle inventory to CarGurus.com, a vehicle-shopping site that has drawn criticism for the way it rates dealers and their deals.
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