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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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ADT Magazine
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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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The lack of new inventory is continuing to drive up the demand for used vehicles, which in turn is forcing buyers to pay more week after week and leaving sellers wishing they had more to offer.
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Letter penned by Canadian Trade Minister Mary Ng suggest proposed EV tax credits will harm North American auto industry and violate trade agreements.
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IHS Markit forecasts lows in light-vehicle sales and production will give way to increases ahead.
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Mexico’s auto sector has criticized the move, saying it allows "car smuggling."
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While sales of new vehicles declined 13.4% year over year in Q3 due primarily to low inventory and high prices, sales of electrified vehicles jumped by nearly 60%, according to an analysis by Kelley Blue Book.
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New trend helps brands like Honda and Nissan see the value of modernizing their lease policies, reports Swapalease.
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Traditionally, values would be declining this time of year, but the lack of inventory continues to be the most common sentiment for the increased auction activity pushing values up.
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Toyota Motor Corp. and Stellantis have announced plans to build battery factories in North America to meet the U.S. government’s push for electric vehicles and the batteries that power them.
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Cox Automotive and LMC report new-vehicle inventories shrank to just over 915,000 in September and predict further shrinkage as production issues and supply shortages linger.
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While it’s true that disruptors have taken some pre-owned market share from dealers, there is nothing these retail outlets are doing that dealerships can’t do even better.
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