Used Auto Prices Fall From Record Highs
Wholesale used-vehicle prices have fallen from a record high set in January, signaling the worst of sky-high prices related to higher inflation in the U.S. may be behind us.
Public Dealership Groups Grow Digital Sales, Create New Online Tools
Some of the nation’s public dealership groups said they sold thousands of vehicles on their digital sales platforms in the first quarter, while others expanded new tools to more customers.
Automotive National TV Spending Dips 14.4%
Automotive estimated national TV spending declined 14.4% in April, falling to $204.3 million vs. $238.7 million a year ago, per iSpot.tv.
Toyota, Honda, Hyundai, Kia Sales Fall by Double Digits Again as Chip Woes Linger
U.S. sales at Toyota Motor Corp., Honda Motor, Hyundai and Kia dropped by double digits in April compared with a year earlier, when industry volume soared briefly, as key parts shortages and jammed supply lines continue to undermine light-vehicle output and shipments.
33,000 More Autos Cut From Production
Another 33,000 vehicles have been removed from automakers’ global production plans because of microchip shortages, according to AutoForecast Solutions.
Auto Parts, Service Business Sees COVID Rebound
Most categories of dealership service and parts businesses
continue to bounce back from earlier COVID-19 shutdowns,
especially customer-pay work, as customers drive more.
Car Dealers Got Creative and Efficient in Face of Low Stock, NADA Says
NADA says as new-vehicle inventory levels plunged last year, car dealers diversified how they source used vehicles and worked to improve salesperson productivity.
GM, Ford Battle Inflation, Rising Interest Rates as They Report Q1 Results
The far-reaching economic impact of the war in Ukraine, grinding supply-chain disruptions, inflation and rising U.S. interest rates all pose a threat to forecasts made by GM and Ford in January.
Top 100 Used-vehicle Retailers List Shows Shift in Focus To Used Cars
The shifting reliance by car dealers on used vehicle sales in 2021 was seen up and down the Automotive News annual ranking.
Opinions About EVs Are Improving
Electric vehicles (EVs) are earning rave reviews fromU.S. consumers. A majority (52%) say they have positive impressions of EVs, vs. 18% who have negative opinions, according to a new survey released by the National Association of Convenience Stores.
CPO Auto Sales Keep Up Sequential Growth
Good news, bad news for certified pre-owned vehicle sales
last month, according to Auto Remarketing.
Automakers Cooperate In Promoting EVs At New York Show
In a rare moment of cooperation instead of competition, a handful of automakers are sharing the figurative stage at the New York International Auto Show.
More Buyers Excluded From New-Vehicle Market
Two years after the COVID-19 pandemic tore through the economy, Fortune reports, America’s auto market looks something like this: Prices are way up. Supply is way down. And gasoline costs way more.
Consumers Have Mixed Reactions To Automotive Innovation
While about half of U.S. consumers surveyed express interest in electric vehicles and autonomous driving technology, there is also high satisfaction with more traditional technologies.
The Latest Numbers on the Microchip Shortage: North America, China Take Hit
North American and Chinese assembly plants accounted for the bulk of the industry’s latest production cuts caused by the ongoing shortage of microchips.
Auto Leasing Costs Expected To Keep Rising
Freedonia Focus Reports said U.S. consumer spending on vehicle leases is forecast to rise 1.3% per year in nominal dollars through 2025. Analysts explained that increased consumer leasing of crossover utility vehicles, sport utility vehicles and trucks — which generally lease at a higher price point — will drive growth over the forecast period.
Axios: Here Come The EVs
A pair of new analyses show how electric cars are becoming increasingly mainstream, with a lot more on the way.
Toyota: Old inventory Ways Gone
The days of Toyota having roughly 45 days of inventory on hand are over, says North American Sales Chief Bob Carter. But he’d like more vehicles on hand than Toyota has now.
Automakers’ National TV Spending Dips 27.4%
The estimated national TV spend by automakers in March declined 27.4% vs. March 2021, with TV ad impressions dipping similarly.
Chevy Relaunches Bolt EVs After Recall With 2 Ads
Chevy expects ad spending to exceed all other nameplates except the Silverado.