Weekly declines continued last week, but the rate of decline is still less than is typically experienced this time of year. Sellers are holding firm to floors, and we have yet to see conversion rates return to pre-holiday levels.
Toyota Motor Corp. announced it will not reach its goal of manufacturing 9 million cars in its fiscal year, which ends in March.
Luxury car brands, such as Rolls-Royce, Bentley, Porsche and BMW saw record sales in 2021.
The declines are continuing to close out the second week of 2022 with majority of segments reporting drops in valuations.
The policy reversal will make GM eligible for government fleet purchases by the State of California.
Moving into 2022, NADA anticipates new-vehicle sales of 15.4 million units – an increase of 3.4% from 2021.
The year is starting off with declines in many segments, but it remains to be seen if we reached the peak of increases before the holidays or if we will return to increasing values as the market prepares for spring.
New light-vehicle sales totaled 14.93 million units in 2021, up 3.1% from 2020’s 14.47 million. December 2021’s SAAR totaled just 12.44 million units, down 23.7% from December 2020.
Dealertrack data show new and used retail sales modestly gained against 2019 pre-pandemic levels in the final week of the year.
The lowest sales recorded in December went to Toyota Motor Corp., Honda Motor Co., Hyundai and Kia, which posted sales drops for the fifth consecutive month.
2021 was a wild ride, but according to Black Book, the final two weeks of the year reported minimal declines in values after a year of record-breaking increases.
Toyota sold 2.332 million vehicles in the U.S. in 2021, compared to 2.218 million vehicles for General Motors.
Hyundai Motor Co and affiliate Kia Corp. predict a 12.1% combined global sales jump in 2022, despite 2021 sales falling short of targets.
Full-year 2021 auto sales in the U.S. are forecast by Cox Automotive to finish near 14.9 million units, an increase of approximately 2.5% from 14.5 million in 2020.
Record high used car prices will deflate. The question is how fast the bubble will burst.
More than 160 dealers, agents, and industry executives took part in the inaugural West Coast Compliance Summit, one of three concurrent events featured at Industry Summit 2016. And more than 80 of them successfully completed the event’s compliance certification component.
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