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For dealer-owned reinsurance entities, avoiding volatility entirely can mean falling behind inflation and missing market rebounds that drive long term surplus growth. Missing just a handful of strong market days can materially impact cumulative returns—an important reminder for long horizon trust and investment strategies.
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As used originations increase, credit unions reach nearly 26% total vehicle financing market share, the highest volume in five years.
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Reaching the Biden Administration’s goal of 50% of U.S. new vehicle sales being BEVs by 2030 is unlikely, says Jack Hollis of Toyota in a webinar.
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J.D. Power and LMC Automotive report predicts average new vehicle transaction prices will hit a record $46,259 in August.
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With these advertising strategies in mind, dealers focusing on promoting electric vehicles will gain a leg up on the competition and electrify more interest in their local markets.
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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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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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Dealers need to be vigilant in developing a strategic plan to seize new opportunities so that they continue to thrive.
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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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