Weekly Market Update: Insights Report
Days-to-turn for used retail listings have been increasing, as retail demand softened over the last few weeks.
Days-to-turn for used retail listings have been increasing, as retail demand softened over the last few weeks.
At $43,355, the average new-vehicle transaction price hit a record high in August 2021 for the fifth consecutive month, according to Kelley Blue Book.
The slowing auto market will lead Cox Automotive to revise downward its full-year new-vehicle sales forecast.
On a volume-weighted basis, the overall Car segment increased +0.18%. For reference, the previous week cars increased by +0.06%.
August will be a fourth consecutive month of slowing sales and looks to be coming in even lower than our forecast of 1.2 million, a 9% decline from August 2020.
As younger generations of early tech adopters continue entering the car-buying market, we can expect interest in EVs to continue growing.
Haig Partners released its Q2 2021 Haig Report, a quarterly report that tracks trends in auto retail and how they impact dealership values.
The rate of depreciation has been slowing in recent weeks and this past week, the overall Car segment week-over-week change crossed back into positive territory, with six out of the nine Car segments reporting gains.
Inventory-constrained Toyota held on to the top spot for shopping consideration, but Ford narrowed the gap in the second quarter despite its own supply challenges.
The overall market continued to decline this past week, but the rate of depreciation lessened, and some segments reported positive pricing movement.
EV companies, Arrival and Fisker, embark on paths designed to circumvent production challenges experienced by Tesla.
Days-to-turn for used retail listings have been increasing, as retail demand softened over the last few weeks.
Brands with unfavorable lease policies continue to see lower brand loyalty.
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.
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.
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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