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How fast automakers move vehicles from factory floors to showrooms will shape the sales story the rest of the year.
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Automakers reported impressive monthly results, showing increases that ranged from 40% to 70% compared to unit sales during the pandemic.
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Hyundai Motor Co reported a smaller-than-expected drop in profit on high-margin domestic sales and said, while demand should pick up soon, the pace of recovery will be slow due to the impact of the coronavirus pandemic.
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Autotrader announced the 2020 Best Non-Luxury and Luxury Certified Pre-Owned Programs for 2020. Since today’s car shoppers are focused on value and affordability, CPO is a perfect option for a cheaper vehicle that has a manufacturer-backed warranty.
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Kelley Blue Book reports the average cost to buy a new vehicle was $38,393 last month, a 1% year-over-year increase restrained by frantic efforts to move 2019-MY inventory.
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July deliveries increased 1.3% in the first monthly U.S. new-vehicle sales report to include none of the Detroit 3 automakers, but the seasonally adjusted annualized rate fell below 17 million for the fourth time this year.
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Kelley Blue Book analysts report average transaction prices for U.S. new-vehicle sales increased by 3.1% on a year-over-year basis in June but declined slightly from May.
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Genesis, Kia, and Hyundai lead J.D. Power’s Initial Quality rankings for the second straight year, but new-vehicle quality scores are flat overall, driven by a decline among 18 of 31 major U.S. brands.
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Kelley Blue Book editors have named the top 10 new vehicles available for less than $20,000 in the current model-year.
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The U.S. government and a group of global automakers are set to unveil a voluntary agreement at the Detroit auto show on Friday aimed at improving auto industry safety and spurring culture changes, according to company and government officials. The accord could set the framework for further discussions on safety reforms and mark a new ... Read More »
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