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EV Sales Slide While Hybrids Climb
California, as usual, led the country in EV registrations in the fourth quarter, but the U.S. as a whole saw a 43% year-over-year volume decrease.
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SEARCHMENUSEARCHCalifornia, as usual, led the country in EV registrations in the fourth quarter, but the U.S. as a whole saw a 43% year-over-year volume decrease.
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The luxury automaker credits strong factory-dealer communications as the reason dealers could sell into the pipeline.
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The first quarter of 2022 came to a close with new-light vehicle sales in March totaling a SAAR of 13.4 million units, a decline of 4.6% compared to February 2022 and a decline of 24.4% compared to March 2021’s SAAR.
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Manheim Market Report values saw weekly price increases that accelerated in each full week of March after the first week saw the smallest decline thus far this year.
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The seasonally adjusted Retention Index went down to 187.7 points in March 2022 as modified Spring arrives late.
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The month’s SAAR totaled 13.3 million units, down from 14 million in February and off 24.4% from March 2021’s SAAR of 17.6 million units.
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The U.S. auto industry has no shortage of buyers currently, but it lacks the inventory to satisfy them.
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Unprecedented 383 transactions completed in 2021, representing 830 franchises, nearly three times the pre-pandemic average, according to The Blue Sky Report by Kerrigan Advisors.
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The report explains how dealership profits have tripled along with demand from dealership groups that want to acquire more stores.
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March U.S. auto sales, when reported on Friday, will show a notable drop from last March as the market remains significantly constrained by lack of supply.
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Throughput increased in 2021 as U.S. light-vehicle sales rose to nearly 14.75 million vehicles, according to dealership census.
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