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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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Car segment gains ticked up slightly this past week (+1.25%) compared to the week prior (+1.17%).
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The Black Book April Retention Index broke yet another record, reaching 152.4 points.
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As the semiconductor shortage slashes vehicle production, rental car companies are taking extreme measures to bolster their fleets. The businesses are buying used vehicles at auction.
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Retail inventory levels, new and used, continue to be a challenge and the limited availability of quality vehicles in the wholesale market is also proving to be a challenge for buyers.
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The Toyota brand led the latest signs of a recovering and booming market with the automaker putting its preliminary seasonally adjusted, annualized rate of sales at 17.8 million.
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Honoring new-vehicle brands, models with lowest projected ownership costs to help shoppers save money.
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The Cox Automotive Industry Insights team is forecasting a sales pace of 16.5 million in April, down from the surprise 17.7 million in March, but a healthy number nonetheless.
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Inventory levels continue to be tight, both in the new and used retail markets, as well as the wholesale market, further fueling the price required to source used inventory.
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The automotive retailer’s Q1 2021 adjusted earnings skyrocketed 207% year over year with adjusted earnings of $2.79 per share.
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This month, tens of millions of federal stimulus checks hit bank accounts across the country. If last year is any guide, many of those will wind up being used to buy powersports vehicles of one type or another.
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