Sales rebound as consumers return to showrooms amid better selection and improved incentives.
Research puts the average new-car price in February at $45,296, compared to the average MSRP of $41,637.
November’s SAAR of 14.1 million units rose 7.9% compared to November 2021 but was down 6.5% compared to October 2022.
Lexus (Premium) and Honda (Mass Market) receive brand awards; Kia receives most model awards.
J.D. Power and LMC Automotive report predicts average new vehicle transaction prices will hit a record $46,259 in August.
Buick ranks highest overall in J.D. Power Initial Quality Study; Genesis ranks highest among Premium Brands.
The seasonally adjusted, annualized rate of sales fell to 12.81 million in May, according to Motor Intelligence.
Consumers seeking lower prices on dealership lots must wait until 2023, reported auto-industry leaders at the New York International Auto Show.
The combination of vehicle owners needing service more often due to accumulating mileage at pre-pandemic levels along with the disruption of the auto parts supply chain and significant staffing shortages is causing auto dealership service departments to navigate unique capacity challenges.
The J.D. Power U.S. ALG Residual Value Awards are the automotive industry standard in recognizing vehicle models projected to hold the highest percentage of their manufacturer’s suggested retail price.
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