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Franchised Dealers Stand to Gain Service Business
Cox Automotive research shows both the opportunities and the challenges in turning consumers’ growing affordability needs into increased fixed-operations revenue.
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SEARCHMENUSEARCHCox Automotive research shows both the opportunities and the challenges in turning consumers’ growing affordability needs into increased fixed-operations revenue.
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IHS Markit finds the average age of a car on U.S. roads rose to 12.1 years in 2021, up from 11.9 years in 2020. In comparison, the average age was 9.6 years in 2002.
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U.S. new vehicle retail sales are expected to drop 888,900 units in September, from 1,182,788 a year ago.
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The market continued to make gains this past week, marking the fourth consecutive week of overall wholesale value increases.
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Lease credit approvals reached 71.3% in August; Up from 70.0% in July.
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Ford Motor Co. President and CEO Chris Farley names making electric vehicles more affordable and mining battery minerals in the U.S. as top priorities.
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Automobile sales in September are forecast to slow for the fifth straight month, as tight inventory, high prices take a toll on the industry.
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GM entered agreement with the rental car company to funnel more loaner vehicles to dealerships amid the global microchip shortage.
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Traditionally, as we move past Labor Day, values begin to decline, with the largest portion of the yearly depreciation typically occurring in the fourth quarter. However, that is not the case this year, we’ve now had four consecutive weeks of overall market increases in wholesale values.
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Current inventory levels rest at a 31-day supply for U.S. dealers, reports Cox Automotive subsidiary vAuto.
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Auto dealership buy/sell market on path to most active year in history – 320 transactions June 2020 to June 2021.
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