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January Auto Sales Chilled
The month is set to be off last year, J.D. Power predicts, though its full-year outlook is less gloomy, and dealer profits are up despite the odds.
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SEARCHMENUSEARCHThe month is set to be off last year, J.D. Power predicts, though its full-year outlook is less gloomy, and dealer profits are up despite the odds.
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While this is the fourth consecutive week of declining wholesale values, decreases are still relatively modest compared to year-to-date gains.
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Cadillac announces that every new or redesigned vehicle in North America will be electric to fulfill the luxury brand’s role as General Motors’ lead EV brand.
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Manufacturers are entering commitments to produce more automotive-grade chips for automotive manufacturers that have idled production amid the shortage.
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Used wholesale and retail prices are starting to stabilize in July (although at a remarkably high plateau), but new car sales are still on a rollercoaster as the chip shortage is finally showing up in the new sales numbers.
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AutoNation predicts demand for new vehicles will continue into next year, as low-interest rates and robust demand helped the retailer boost quarterly earnings estimates.
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A Trump-era USMCA interpretation could subject used vehicles shipped to the U.S. to import fees.
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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.
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Lexus and Subaru rank highest for third consecutive year.
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High demand coupled with low inventory has spurred consumers to order the vehicle they want.
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Wholesale values continue to decline after a monstrous 22-consecutive weeks of gains; however, sales conversion rates were also down last week. We anticipate that dealers will begin gradually and moderately reducing their floors.
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