Black Book: Weekly Market Report
Early signs of a potential Spring bump in the market are starting to emerge with the Sporty Car segment reporting an increase for the second consecutive week.
Early signs of a potential Spring bump in the market are starting to emerge with the Sporty Car segment reporting an increase for the second consecutive week.
General Motors Co. posted a $2 billion net profit in the fourth quarter finishing the year strong despite supply chain struggles, record prices and other disruptors.
The company reported a profit before tax of $326 million for the quarter ending in December.
Last week, wholesale price declines lessened, coming in at a level on par with last July (apart from the weeks around Thanksgiving and Christmas when volume and conversions were down), before the declines began to accelerate for Q3 and Q4.
Cox reports that in the auto sector sales of motor vehicles and parts fell in December.
Tesla has built a commanding lead over most major rivals in profit per vehicle, according to Reuters research.
Cox’s Auto Market Weekly Summary for January 13 shared both positives and negatives.
Auto industry analysts remain on high alert for “demand destruction” as high interest rates, escalating vehicle costs, and a down economy threaten auto sales.
With two weeks of the new year now behind us, the trends that we ended 2022 with are continuing into 2023.
Average vehicle transaction prices continue to soar, according to data released by Kelley Blue Book.
With 2022 fully in the rearview mirror, we can begin to evaluate the years performance: the overall market finished down 22.9%, with Cars down 22.7% and Trucks down 23%.
U.S. electric vehicle purchases climbed to 5.8% of all vehicles sold in 2022, up from 3.2% in 2021, according to Motor Intelligence.
The Detroit automaker sold 1.86 million vehicles in 2022, down from 1.91 million in 2021.
In the fourth quarter, Stellantis reported new vehicle sales declined 16% to 347,669 vehicles.
The year closed out with another week of above average weekly depreciation.
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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