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Dealership Profits Decline
While new and used retail sales stagnated, dealerships have been particularly supported by fixed operations and finance-and-insurance profits, according to a new report.
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SEARCHMENUSEARCHWhile new and used retail sales stagnated, dealerships have been particularly supported by fixed operations and finance-and-insurance profits, according to a new report.
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CarGurus.com reveals the average listing price for a new electric vehicle stood just under $60,000 at the end of June, marking a 13% increase since February.
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Moss Bros. Auto Group has agreed to a $2.5 million class-action settlement in a case involving ringless voicemails.
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Auto industry inventory levels sat between 1 million and 1.1 million vehicles for the sixth consecutive month in June, according to Cox Automotive.
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For dealerships, understanding the expectations of customers is what makes a great versus good versus mediocre customer experience.
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The National Automobile Dealers Association issued its analysis of U.S. auto sales and the economy for the second quarter of 2022.
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As automakers report second quarter results, analysts say a market rebound may be on the way.
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BYD sold 638,157 electric or plug-in hybrid passenger vehicles in the first six months of 2022 compared to 564,743 from Tesla.
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Ford Motor Co. reported nearly a 32% increase in U.S. sales in June, as it improved truck and SUV deliveries and rolled out an all-electric pickup.
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A recession won’t affect U.S. auto dealers and manufacturers until the 12- to 18-month range, says Jonathan Smoke, chief economist-Cox Automotive.
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This June, ZeroSum data shows that new vehicle inventory levels remain flat, while used vehicle inventory decreased almost two percent.
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