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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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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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Some positives for commercial dealers and buyers.
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With low inventory and high demand, incentives dropped to a record low in June, averaging only 2.3% of the average transaction price.
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The National Automobile Dealers Association issued its analysis of U.S. auto sales and the economy for the second quarter of 2022.
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As automakers report second quarter results, analysts say a market rebound may be on the way.
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BYD sold 638,157 electric or plug-in hybrid passenger vehicles in the first six months of 2022 compared to 564,743 from Tesla.
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