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According to ZeroSum data, new vehicle inventory is expected to rise 2.87% by the end of August while used vehicle inventory could fall 3.48%. At the same time, average new vehicle prices rose 0.10% to $48,429 and used vehicle prices increased 0.53% to $34,242.
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NADA again urges the FTC to go back to the drawing board before forcing a series of unstudied and untested mandates lacking evidence that will have such significant negative impacts on customers.
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Lower consumer demand has impacted buyer behavior at auctions around the country, but this past week, sellers began to hold firm on floors and the sales rate reflected this change in behavior.
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Ford Motor Co. will eliminate 3,000 jobs globally, according to a letter sent to employees Monday.
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Tesla faces new competition as new electric vehicle manufacturers come onto the scene.
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Dealership executives who apply and qualify will also receive complimentary flights, hotel stay, and participation in the ADX golf tournament.
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Dealers ranked Portfolio as the nation’s No. 1 reinsurance provider for the second consecutive year and ninth time overall in the 18th annual Dealers’ Choice Awards.
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Recent data points to more auto borrowers struggling to keep up with loans, but default rates remain below pre-pandemic levels.
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The Federal Trade Commission has proposed new regulations that target dealership ads and F&I practices.
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The Estimated Average Weekly Sales Rate remains at 65%.
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