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Used Lots Getting the Business
Many consumers are seeking out the units to save money, and the demand – higher in July than normal – is keeping supply limited and prices up.
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AE Magazine
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SEARCHMENUSEARCHMany consumers are seeking out the units to save money, and the demand – higher in July than normal – is keeping supply limited and prices up.
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Cox Automotive forecasts sales will increase nearly 4% from 2022 and from January 2023.
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Now in week three of February, we continue to see the wholesale market improving.
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According to EV-Volumes data, from Jose Pontes, five OEMs handled more than half of all EV sales.
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Volkswagen AG reported its cash flow fell short of expectations as supply chain snags led to higher unsold inventory at year’s end.
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The reduction in weekly depreciation that started a couple of weeks ago continued again last week, with the market reporting the lowest overall depreciation we have seen since the end of June 2022.
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Dealers report elevated prices, a lack of affordable vehicle models, and higher interest rates are pricing many consumers out of new cars.
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The light new-vehicle sales pace increased in January to 15.7 million, while new vehicle prices declined slightly, and incentives increased.
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Early signs of a potential Spring bump in the market are starting to emerge with the Sporty Car segment reporting an increase for the second consecutive week.
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General Motors Co. posted a $2 billion net profit in the fourth quarter finishing the year strong despite supply chain struggles, record prices and other disruptors.
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The company reported a profit before tax of $326 million for the quarter ending in December.
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