Despite Big Spenders, Lincoln Still No.1 in Auto Ad Impressions
GMC debuted at third in impressions but first in spending, dropping an estimated $9 million nationwide in support of the Sierra pickup with the hands-free driving option. That’s more than twice as much as the next biggest spender for the week.
Hyundai Launches First African American-Targeted Campaign
Hyundai Motor America is launching its first campaign aimed at African American consumers this week. The automaker selected independent and minority- and female-owned Culture Brands as its first African American marketing agency of record in May.
Transparency Can Help Build Loyalty With Service Customers
Customers are looking for reasons to come back to dealerships for service.
Cox, LMC: Auto Inventories at 36-Year Low
New-vehicle inventories in the U.S. have fallen below the 1 million-vehicle threshold and stand at their lowest point since at least 1985, according to estimates from industry data giant Cox Automotive and analysis firm LMC Automotive.
New-Vehicle Transaction Price Tops $45,000
New-vehicle prices hit another all-time high in September, marking the sixth straight record-setting month and surpassing $45,000 for the first time, according to Kelley Blue Book. At $45,031, the average transaction price for a new automobile was up 12.1% from a year ago and up 3.7% from August.
Manheim Index Sets New Record — Again
Wholesale used vehicle prices increased 5.3% month-over-month in September, according to Cox Automotive. This brought the Manheim Used Vehicle Value Index to 204.8, a 27.1% increase from a year ago and another record high in a year of records.
NADA’s Manzi: SAAR of 12.2M for September
New light-vehicle sales in September fell for the fifth straight month to a SAAR of 12.2 million units, according to the NADA. September 2021’s SAAR was the lowest since May 2020’s 12.1 million units, dropping the 2021 Q3 average SAAR to 13.3 million.
Ford’s Sales Improving but Still Down by 27.4% in the Third Quarter
Ford’s U.S. vehicle sales during the third quarter fell by 27.4% from last year as an ongoing shortage of semiconductor chips interrupted vehicle production and cut dealer inventories.
The Latest Numbers on the Microchip Shortage: N.A. Plants Take Pause
North American factories cut just 9,075 additional vehicles out of their production plans as the supply crisis enters its fourth quarter, according to AutoForecast Solutions. That compares with nearly 214,000 vehicles one week earlier.
New Auto Sales to Fall 25% in Sept
U.S. retail sales of new vehicles are expected to fall nearly a quarter in September, hurt by depleting inventories, even as consumer spending remains strong, according to a joint forecast by J.D. Power and LMC Automotive. New vehicle retail sales in the U.S. are seen dropping to 888,900 in September from 1,182,788 a year ago.
Auto Shoppers Exit Market on Supply Woes
According to Kelley Blue Book, 48% of in-market car shoppers say they’re likely to postpone their purchase due to the chip shortage. Of those likely to postpone, most plan to wait at least several months: 40% said seven months or longer, 40% said three-to-six months, and 12% said one-to-two months.
Used Auto Prices Climb, Raising Inflation Fears
The Manheim U.S. Used Vehicle Value Index increased 3.6% in the first half of September compared with a month earlier. That puts it on track for the first month-over-month increase since May while extending the string of consecutive monthly of gains on a year-over-year basis that dates back to June 2020.
New-Auto Prices Hit Another Record in August
According to Kelley Blue Book, new-vehicle prices hit another all-time high in August, marking the fifth straight record-setting month. At $43,355, the average transaction price for a new vehicle was up nearly 10% ($3,789) from a year ago and up 1.6% ($685) from July 2021.
Auto Sales to Suffer While Chips Are Down
According to Cox Automotive, the seasonally adjusted annual rate for total August light-vehicle sales was just 13.1 million, and it’s the fourth month in a row the SAAR declined from the previous month.
Tight Inventories Weigh on Dealers, but Outlook Remains Upbeat
Dealer optimism cooled slightly in Cox’s third-quarter poll, after reaching record highs in the previous quarter. Dealers’ outlook for the next three months is strong and an improvement from their forward-looking view recorded in the year-ago quarter.
Ford Cuts F-150 Pickup Production Again Due to Chip Shortage
Ford is once again cutting production of its F-150 pickup truck and other highly profitable vehicles due to the ongoing global shortage of semiconductor chips.
Wholesale Auto Prices ‘Historically High’
According to the latest report from KAR Global, the average wholesale price was $14,250 in July, down 2.7% from June, but up 6.5% year-over-year and up 24.4% from July 2019.
August Auto Sales to Fall on Supply Woes
U.S. auto retail sales are expected to fall in August, as the global semiconductor shortage coupled with the fast spreading delta variant squeezed inventory at dealerships, consultants J.D. Power and LMC Automotive said. Retail sales of new vehicles are expected to fall 14.3% to 987,100 in August from a year earlier.
Auto Dominates Olympic Ad Impressions
According to iSpot.tv, automotive had the most ad impressions during the Olympics among all advertisers, after ranking second as an industry in the 2016 Rio Games.
The Latest Numbers on the Microchip Shortage
Automakers cut an additional 481,707 vehicles out of planned production schedules because of microchip shortages, according to AutoForecast Solutions. Toyota accounted for the 10 largest factory reductions, with affected plants in North America, Japan and China.