Used Vehicles Are Like Gold — And Dealers Know It
Clearly, there’s interplay between the new and used markets, which has perhaps heightened as the semiconductor shortages drag on.
The New Abnormal: Auto Sales Had Wild Ride in 2021
U.S. auto sales in 2021 were upended by COVID-19 and chip shortages, elevating some, knocking down others, boosting dealer profits and sidelining millions of consumers.
The Latest Numbers on the Microchip Shortage: Have Factory Cuts Peaked?
The worst-case scenario for semiconductor-related vehicle cuts improved last week, even as automakers announced more cuts.
15.2 Million New Vehicles Will Be Sold in ’22
The car shopping experts at Edmunds say the automotive industry faces yet another challenging year marked by inventory shortages amid strong consumer demand, forecasting that 15.2 million new cars will be sold in 2022.
Toyota Says It Will Build Record 800,000 Vehicles in January
This figure represents an increase of 60,000 vehicles over Jan. 2021.
Kia Beats U.S. Sales Record Despite Production Challenges
Kia has already surpassed its full-year U.S. sales record from 2016. Through November of this year, Kia sold 652,910 vehicles.
The Latest Numbers on the Microchip Shortage: N.A. Vehicle-Loss Forecast Pared
The outlook for total losses of North American-built vehicles due to microchip shortages has improved for the second week in a row.
Ford Caps F-150 Lightning Reservations Near 200,000 as Production Nears
Ford stopped taking reservations for the upcoming F-150 Lightning electric pickup as it prepares to open its order bank for the truck next month. The automaker plans to institute a staggered ordering process over the next several months.
Biden to Order End of Gasoline-powered Vehicle Purchases for Federal Fleet by 2035
The executive order also pledges 100 percent zero-emission light duty vehicle acquisitions by 2027. The U.S. government owns more than 600,000 vehicles.
Inventory Woes Still Weigh on Auto Sales
New light-vehicle sales in November came in below expectations, with a SAAR of 12.9 million units, down 19% from November 2020, according to the NADA. The average number of days a new vehicle sits on the lot, according to J.D. Power, fell to a record low of 19 days in November, down from 48 days in November 2020.
Automotive TV Spending Down 8.8% In November
Automakers’ estimated TV spending was down 8.8% in November compared to a year ago, while impressions fell 29.4%, per iSpot.tv.
Why Auto Brands Need to Go Big or Stay Home
One thing remains certain: it may be a slower first lap around the track until we’re fully back to business as usual. But auto shows certainly aren’t dead yet.
New Vehicles Keep Flying off Dealer Lots
U.S. dealers are selling new cars and trucks just as fast as the factories can make them. Presumably, dealers could sell a lot more, if they had more to sell, since buyers are snapping.
Ford Partners With Globalfoundries to Hike U.S.-Made Chip Supply
Ford Motor Co. is partnering with semiconductor manufacturer GlobalFoundries to accelerate production of U.S.-made chips amid the global shortage and to help design them in the future.
Americans Buy More Luxury Autos, Pickups
ply and continued demand, new-vehicle prices remain elevated overall. Price gains in October were especially driven by higher luxury sales and a richer mix of large SUVs and pickup trucks.
Auto Ads Still a Drag for Broadcasting
A drop in automotive advertising caused by supply chain woes remains a drag on TV and radio, according to Q3 reports delivered last week, Communications Daily reports.
Toyota Deflects Chip Shortage to Post 48% Rise in Operating Profit
Toyota again powered through the global microchip shortage in the latest quarter booking a 48 percent surge in operating profit despite output cutbacks and stagnant sales.
More Americans Than Ever Want to Buy a Car – If Only They Could Find One
Unlike other supply chain strains, which have been exacerbated within the past two months, the microchips required to make new cars have been desperately behind the production schedule for most of this year.
Average New Car Price Tops $45k, Used Car $25k
It’s a good time to be selling a car or truck, or to be trading one in. But new or used, the cost of a replacement is way, way, up vs. a year ago, according to Forbes.
Chip Shortage Drags Down Auto Sales in October
The new-vehicle shortage, largely driven by a shortage of computer chips needed to run today’s cars and trucks, weighed on U.S. auto sales for the month of October vs. a year ago, Forbes reports.