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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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AE Magazine
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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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Used Retail Prices are more accessible than in years past, due to the proliferation of ‘no-haggle pricing’ for used-vehicle retailing.
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Ford Motor stock hit its best month since the Great Recession, advancing nearly 32% since its 127.4% surge in April 2009.
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Penske Automotive Group reported a 10% rise in income to $375.9 million in the second quarter, its most profitable quarter ever.
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July U.S. auto sales are expected to show very little change from June’s results as a lack of supply continues to batter the new-vehicle market.
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The Estimated Average Weekly Sales Rate remains somewhat stagnant, around the 66% mark.
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But the automaker remains bullish that stronger results are possible in the second half of the year.
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Holmes Honda Shreveport and Honda Bossier City sold to Community Auto Group and Mercedes-Benz and Sprinter of Shreveport, Jaguar Land Rover Shreveport and Holmes Volvo Cars of Shreveport sold to Group 1 Automotive.
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Volvo Cars points to a potential slump in retail sales in 2022 after posting higher second-quarter profits.
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Auto manufacturers cut over 100,000 vehicles from North American production schedules because of the global microchip shortage last week, reports AFS.
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The Estimated Average Weekly Sales Rate increased to 67%.
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