
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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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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Dealers can boost electric vehicle sales when they take an educational stance with consumers.
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J.D. Power reports metrically measured customer satisfaction with their automotive purchases remains at 789 points (on a 1,000-point scale), the same as in 2020.
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We have now had ten consecutive weeks of wholesale value increases, during a time that traditionally experiences large week-over-week declines.
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Since Farley took control of the automaker last October, Ford’s stock has roughly tripled.
Read More →Combined sales at the seven major automakers that release monthly results dropped 17% in October. Automakers cite the semiconductor chip shortage and supply chain bottlenecks as the reason.
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The seasonally adjusted Retention Index increased to 180.2 points, continuing to hit records.
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The fourth quarter is traditionally when the market experiences most of the yearly depreciation, but after just one month in the quarter, values are reporting appreciation of more than 3.0%.
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The average price of a new car hit $45,000 in September and reached $25,000 for the average used car, according to Kelley Blue Book.
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NADA economist forecasts supply chain challenges, including the chip shortage, will persist well into 2022.
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High demand amid limited new vehicle inventory has driven up used vehicle prices. But it’s also impacting the rate their values are depreciating.
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