Cox Automotive: Auto Market Weekly Summary
New-vehicle sales were up slightly in July from June but remain low at a 13.3 million seasonally adjusted rate of sales.
New-vehicle sales were up slightly in July from June but remain low at a 13.3 million seasonally adjusted rate of sales.
Ford Motor Co. saw U.S. sales rebound sharply in July for the second consecutive month while Toyota Motor Corp. and Honda Motor Co. saw sales dip for the 12th consecutive month.
Internal hiring or recruitment has many advantages, including increased motivation, lower hiring costs, cultural fit, easier onboarding, and improved retainment of employees.
The company saw revenue more than double to $8.1 billion as customers continued to hail rides and order takeout food.
Used Retail Prices are more accessible than in years past, due to the proliferation of ‘no-haggle pricing’ for used-vehicle retailing.
Mining the service drive can be a mundane task that’s easy to push aside, but it can also deliver high-quality leads and is the best source of used inventory for your dealership.
Holmes Honda Shreveport and Honda Bossier City sold to Community Auto Group and Mercedes-Benz and Sprinter of Shreveport, Jaguar Land Rover Shreveport and Holmes Volvo Cars of Shreveport sold to Group 1 Automotive.
With low inventory and high demand, incentives dropped to a record low in June, averaging only 2.3% of the average transaction price.
The Retention Index increased again during June to 191.5 points, even as we saw weakening consumer demand.
BYD sold 638,157 electric or plug-in hybrid passenger vehicles in the first six months of 2022 compared to 564,743 from Tesla.
Used Retail Prices are more accessible than in years past, due to the proliferation of ‘no-haggle pricing’ for used-vehicle retailing, according to Black Book.
For the first time since the week of April 18th, the overall market reported softening last week.
Kerrigan Advisors’ Erin Kerrigan sees a positive, record-breaking buy/sell market for 2022 and maybe into 2023.
Sporty Cars traditionally decline during this time of year, but the segment is still reporting increases with an average weekly increase of +0.24% over the last eleven weeks.
Mining the service drive can be a mundane task that’s easy to push aside, but it can also deliver high-quality leads and is the best source of used inventory for your dealership.
