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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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Used Retail Prices are more accessible than in years past, due to the proliferation of ‘no-haggle pricing’ for used-vehicle retailing, according to Black Book.
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Analysts forecast production of about 14.7 million cars and trucks this year in North America, an increase of 12.5% vs. 2021.
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According to the Cox Automotive June sales forecast, the seasonally adjusted annual rate (SAAR) of new-vehicle sales this month is expected to hit 13.8 million, up from last month’s 12.7 million pace but well below last year’s 15.5 million level.
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Buick ranks highest overall in J.D. Power Initial Quality Study; Genesis ranks highest among Premium Brands.
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Italy, Portugal, Slovakia, Bulgaria and Romania want to delay a EU plan to ban the sale of new gasoline and diesel-powered vehicles in 2035 by five years.
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The FTC hopes the proposed rule will save consumers time and money and ensure a level playing field for honest dealers.
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For the first time since the week of April 18th, the overall market reported softening last week.
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The automaker has dialed down its worldwide production schedule for July by 50,000 vehicles to 800,000.
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European and North American automakers cut around 25,000 additional vehicles from their production schedules last week.
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Sterling McCall Hyundai is its sixth dealership located in the US, all in Texas. The dealership will be rebranded Steele South Loop Hyundai.
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