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Used Sales Hit Summer Drag
The vacation season, combined with high prices, has dented deliveries and added to inventories, though supply is still slim enough to keep listings elevated.
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SEARCHMENUSEARCHThe vacation season, combined with high prices, has dented deliveries and added to inventories, though supply is still slim enough to keep listings elevated.
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Sales fall due to customer affordability concerns. Company offering lower-priced models, cutting its costs.
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Tesla plans to increase production of Model Y and Model 3 EVs in Q4 and keep growth going as newer factories in Austin and Berlin come online in 2023.
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The average interest rate paid on a new vehicle purchase hit 5.7% in September, up from about 4% in 2021.
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Cox Automotive's quarterly review allows us to see how the market has progressed compared to expectations.
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ZeroSum predicts that by the end of September, new vehicle inventory will be up 16.69% from the start of August while used vehicle inventory will be down 1.15%.
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September U.S. auto sales, when confirmed next week, are expected to show a new-vehicle market mostly unchanged from previous months and still stuck in low gear.
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BMW will reach the higher end of its 7-9% margin target for its vehicle business and will see slight sales growth in 2023, forecasted CFO Nicolas Peter in a roundtable this week.
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Powersports represent an untapped market for automotive F&I agents.
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Ford isn’t alone in facing cost increases as manufacturers continue to deal with supply shortages.
Read More →NADA numbers show sales prices rose, though volume was down due to inventory shortages.
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