GM Offers Buyout to Buick Dealers
General Motors will offer buyouts to U.S. Buick dealers who do not opt in to the brand’s plans to be all-electric by 2030.
General Motors will offer buyouts to U.S. Buick dealers who do not opt in to the brand’s plans to be all-electric by 2030.
Ford Motor Co., General Motors, and Rivian recently issued recalls that affect nearly 400,000 U.S. vehicles, reports the NHTSA.
iSeeCars research finds prices of battery-electric vehicles (BEVs) rose 54.3%, while used internal-combustion-engine (ICE) vehicle prices rose 10.1%.
Despite negative economic headlines and a volatile stock market, auto retailers continued their expansion through acquisition, with buy/sells increasing 16% YOY, despite spending pullbacks by public retailers, according to the Second Quarter 2022 Blue Sky Report® by Kerrigan Advisors.
The Estimated Average Weekly Sales Rate dropped to 60% last week.
The FTC voted 5-0 against a further deadline extension after receiving approximately 2,400 comments.
The quarterly report aims to reveal the top converting lead sources and partners as detailed through DealerPeak’s proprietary backend data.
Group 1 Automotive Inc. will focus on growth through acquisition in the U.S. and UK, says Daryl Kenningham, incoming president and CEO.
As used originations increase, credit unions reach nearly 26% total vehicle financing market share, the highest volume in five years.
Reaching the Biden Administration’s goal of 50% of U.S. new vehicle sales being BEVs by 2030 is unlikely, says Jack Hollis of Toyota in a webinar.
J.D. Power and LMC Automotive report predicts average new vehicle transaction prices will hit a record $46,259 in August.
With these advertising strategies in mind, dealers focusing on promoting electric vehicles will gain a leg up on the competition and electrify more interest in their local markets.
According to ZeroSum data, new vehicle inventory is expected to rise 2.87% by the end of August while used vehicle inventory could fall 3.48%. At the same time, average new vehicle prices rose 0.10% to $48,429 and used vehicle prices increased 0.53% to $34,242.
Lower consumer demand has impacted buyer behavior at auctions around the country, but this past week, sellers began to hold firm on floors and the sales rate reflected this change in behavior.
Dealers need to be vigilant in developing a strategic plan to seize new opportunities so that they continue to thrive.
Kelley Blue Book editors rank and comment on the 10 Best Back-to-School Cars for 2019, all starting at around $20,000 or less and still available on new-car lots.
View more photos
