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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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Despite the limited inventory on dealer lots, dealer lanes continue to have higher volume at auction, while manufacturers’ remarketing lanes are offering less and less in open sales channels.
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LMC Automotive expects the semiconductor shortage to cut production in North America by about 452,000 units over the remaining months. The company also expects the chip shortage to impact production by about 1.5 million units.
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Last month we noted that the record run of value increases we have seen over the past 18 months appeared to be slowing down and possibly ending.
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If you’re trying to sell to Generation Z buyers, new data shows they have a radically different mindset from millennials and all buyers overall, requiring businesses and sales professionals to adjust tactics to close the deal.
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The U.S. auto market has seen growth this year in nearly every segment, but no segment is growing more quickly and more relentlessly than electrified vehicles.
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“We expect inventories to continue to normalize throughout the back half of 2021 and in the first part of 2022,” said Chris Holzshu, Lithia chief operating officer, in an earnings conference call.
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At the end of the day, success ties in very closely to growth, and a solid strategy to acquiring new business is a tool every agent should have in their belt.
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The May Retention Index showed another increase and broke yet another record, reaching 159.6 points, a 7.1 point (or 4.7%) increase from April (152.4).
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How fast automakers move vehicles from factory floors to showrooms will shape the sales story the rest of the year.
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Automakers reported impressive monthly results, showing increases that ranged from 40% to 70% compared to unit sales during the pandemic.
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