DealerSocket Announces New CFO
DealerSocket announced the appointment of Gary Ito, who has worked at several global software and technology organizations over his 30-year finance and accounting career, as CFO.
Dealer Poll: Tariffs Are Bad for Business
A recent Cox Automotive poll finds a majority of franchised U.S. auto dealers believe new tariffs on imported vehicles would negatively affect their businesses and lead to higher prices for all new vehicles.
J.D. Power: Dealers, Affordability Behind Overall Strength of Used Market
Through July, J.D. Power’s Adjusted Used Vehicle Price Index stood at 119.3, which is 4.7 percentage points higher than the year-ago period. The firm said used-vehicle prices began showing strength in the middle half of 2017, a trend that continued deep into this year’s summer selling season.
CNCDA: Calif. New-Vehicle Registrations Fall for the Fifth Straight Quarter
Despite the decline, the trade group expects the California market will end the year with around 2 million new-vehicle registrations. That would be a slight decline from the 2.05 million registrations the market recorded in 2017, providing further proof the market has plateaued after several years of big increases.
Cox: Mobility’s Popularity Is Growing
Carsharing, ride-hailing, and other mobility services are becoming more popular as alternatives to vehicle ownership, according a new Cox Automotive study.