September 22, 2017 - Industry News
Sentiment speaks to recent auto finance data showing prime and superprime car buyers shifting toward used, where the average monthly payment was $139 less than the record $504 average monthly payment for new in the second quarter.
Tags: auto finance, Cox Automotive, Experian Automotive, new-vehicle sales, used-vehicle sales
September 19, 2017 - Industry News
Despite the nine-basis-point increase, the auto loan default rate remains near levels recorded one year ago. However, declining auto sales and the normal end-of-year push to make room for newer models may encourage easier credit conditions and raise concerns about future defaults.
Tags: auto defaults, auto finance, new-vehicle sales, S&P/Experian
September 7, 2017 - Industry News
Out of the 22 vehicle segments tracked monthly by Kelley Blue Book, only 10 posted higher sales numbers compared to the first eight months of 2016. Of those 10, large vehicles commanded eight of those spots.
Tags: Kelley Blue Book, new-vehicle sales, SAAR
August 7, 2017 - Industry News
The index’s July reading shows that demand is absorbing the high supply of newer used vehicles. The good news on the new side is that inventories fell below four million and are at their lowest level of the year.
Tags: CPO, Manheim, Manheim Index, new-vehicle sales, used-vehicle values
July 10, 2017 - Industry News
It was the second consecutive month that Manheim Used Vehicle Value Index reached a record high. Officials said strong retail demand for recent model-year used vehicles is encouraging dealers to buy more vehicles at auction, and the increased demand is more than offsetting the high supply.
Tags: Cox Automotive, Manheim, Manheim Index, new-vehicle sales, used-vehicle values, wholesale values
July 5, 2017 - Industry News
The nation’s 9,600 international nameplate franchises registered their fourth straight sales decline in June, but the association representing them said dealers are feeling confident about the second half of 2017.
Tags: American International Automobile Dealers Associat, new-vehicle sales, transaction prices
June 27, 2017 - Industry News
Despite record incentive spending, the auto industry is on pace to record its weakest first-half sales performance since 2014, according to the two firms. Days to turn remained at 70 through June 18, the highest level since July 2009.
Tags: days to turn, fleet sales, Forecast, incentive spending, new-vehicle sales, SAAR
June 20, 2017 - Industry News
Lease applicants registered a 48.1% approval rate, the lowest level since the car lease marketplace began tracking the stat in 2014. The firm explained that the rise in consumer interest for luxury SUVs is what’s driving the uptick in declines.
Tags: F&I process, lease, new-vehicle sales, Swapalease.com
June 12, 2017 - Industry News
A survey of more than 9,000 vehicle owners found that 38% of them plan to buy used on their next purchase. That percentage grew to 53% among individuals under 40 years ago age.
Tags: Autolist.com, new-vehicle sales, used-vehicle values
June 7, 2017 - Industry News
With wholesale used-vehicle prices rising in May, the Manheim Used Vehicle Value Index rose to a record 127.9. The firm noted that dealers purchased the most vehicles at Manheim auctions for the month of May since 2008.
Tags: Manheim Index, new-vehicle sales, showroom, used-vehicle values, Wholesale Pricing
June 1, 2017 - Industry News
Transaction prices continued to climb at a steady rate in May, driven by the weakening sales mix of cars, according to the vehicle information side.
Tags: Average Transaction Price, Kelley Blue Book, new-vehicle sales
May 31, 2017 - Industry News
Not even record incentive spending for the month is expected to keep May retail sales on pace with a year ago, according to the two firms.
Tags: incentive spending, J.D. Power and Associates, LMC Automotive, new-vehicle sales, SAAR
May 30, 2017 - Industry News
If the firm's forecast is realized, May's new-vehicle sales total would best April by 7% but would be flat with a year ago. The vehicle information site also believes retail sales will account for 80.5% of volume.
Tags: incentives, Kelley Blue Book, leasing, new-vehicle sales, SAAR
May 9, 2017 - Industry News
The index's April reading was 124.7, a year-over-year improvement thanks to the 0.5% increase in wholesale used-vehicle prices. Manheim officials said any weakness is more a result of excessive new-vehicle inventory, with more than four million new units sitting on dealer lots for the last three months.
Tags: Manheim Used Vehicle Report, new-vehicle sales, Used Vehicle Value Index, used-vehicle values, Wholesale Pricing
May 3, 2017 - Industry News
Not even another strong performance in U.S. new-vehicle margins, a record quarter in the group's U.K. market, and a profitable quarter in Brazil were enough to offset "extreme weakness" in Group 1's energy price-impacted markets.
Tags: F&I profit, Group 1 Automotive, new-vehicle sales, used-vehicle sales
April 26, 2017 - Industry News
April retail sales are expected to reach 1.17 million thanks to record incentive spending. However, average days to turn continues to rise, with nearly 30% of vehicles sold so far in 2017 having sat on dealer lots more than 90 days.
Tags: incentive spending, JD Power, LMC Automotive, new-vehicle sales
April 17, 2017 - Industry News
According to the trade group’s NADA Data 2016 report, dealership employees had one of the highest average salaries of any industry.
Tags: employment, F&I, fixed operations, NADA Data Report, National Automobile Dealers Association, new-vehicle sales, used-vehicle sales
April 4, 2017 - Industry News
With the Industry SAAR falling below 17 million for the first time since August, the trade group said the industry's March sales performance 'suggests that sales may be plateauing.' The association said now is the time for dealers to tighten their operations and push back on any tax increases on consumers.
Tags: American International Automobile Dealers Associat, Honda, new-vehicle sales, Nissan, Subaru
March 9, 2017 - Industry News
The California new-vehicle market leveled off in 2016, with new light vehicle registrations increasing by less than 2% during the final three quarters of last year, according to the California New Cars Dealers Association (CNCDA).
Tags: California New Car Dealers Association, new-vehicle sales, used-vehicle sales
March 1, 2017 - Industry News
With sales skewed toward utility vehicles, the average transaction price for light vehicles rose by $757, or 2.3%, from a year ago to $34,352 in February, the firm reported today.
February 8, 2017 - Industry News
The group’s F&I operations posted a $60 increase in F&I profit per vehicle retailed during a quarter in which the nation’s eighth largest auto retailer chose volume over margin.
Tags: Asbury Automotive, F&I products, F&I profit per vehicle retailed, new-vehicle sales, used-vehicle sales
February 1, 2017 - Industry News
A sales mix in favor of utility vehicles drove up January’s average transaction price 3.3% from a year ago to $34,968. Among the greatest beneficiaries were the Detroit Three, with General Motors leading the way.
January 31, 2017 - Industry News
The expected regulatory rollback, plateauing sales, rising interest rates, and the push to change the in-dealership experience clouds the F&I industry’s future, EFG Companies said today. Four of the firm's executives offered their predictions for 2017.
Tags: Consumer FInancial Protection Bureau, digital retailing, Donald Trump, EFG Companies, interest rates, new-vehicle sales, Regulations, used-vehicle sales
January 25, 2017 - Industry News
After a record December capped off a record year for new-vehicle sales, January appears to be enduring a hangover effect, the vehicle information site said. It expects sales to decline 3% from a year ago to 1.13 million units.
Tags: fleet sales, Kelley Blue Book, new-vehicle sales, Retail Sales
The vehicle information site expects new-vehicle sales to total 1.15 million units in January, a 31.5% decrease from December and a 0.7% decrease from January 2016.
Tags: Edmunds, fleet sales, new-vehicle sales, Retail Sales
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