Report shows interest rates, continued high prices cramping volume.
Figures based on latest Kelley Blue Book average transaction price data.
An ‘insights-driven’ upgrade to vAuto’s Conquest platform was designed to drive new efficiencies in the dealer-to-dealer new-unit trading process.
Edmunds said this week the industry is on pace to break the previous December sales record set in 2004. It predicts the industry will retail 1.7 million units in December, a 29.7% increase from November and a 12.3% increase from a year ago.
Because of the timing of Labor Day, August new-vehicle sales will not get the boost they got last year from the holiday sales weekend. But KBB analysts still expect August sales to 'remain robust.'
Consumers are back in the borrowing business, with November consumer credit data from Equifax showing that nonmortgage credit balances rose to their highest level in five years.
J.D. Power’s John Humphrey told attendees of the NADA/J.D. Power Western Automotive Conference this week that new-car sales are steadily approaching the record of 17.3 million set in 2000, but with more discipline in pricing and the use of incentives.
The number of people employed by the automotive retail industry topped the 1 million-person mark last year, with the average new-car dealership employing, on average, 57 people, the NADA reports.
media brand
The secure and easy all-access connection to your content.
Bookmarked content can then be accessed anytime on all of your logged in devices!
Already a member? Log In