U.S. dealers sold 2.6% fewer new cars and light trucks in June than in the same month a year ago, but standout performances in key segments kept the seasonally adjusted annualized selling rate above 17 million for the second straight month.
U.S. dealers sold slightly fewer new vehicles last month than in May of 2018, but the annual forecast increased to 17.4 million units — thanks in no small part to strong fleet sales.
Dealer software provider Spiffit has been added as a contributing member on the Fortellis Automotive Exchange platform.
The U.S. new-vehicle sales forecast improved to 17.42 million units in March, but sales fell 3.1% year-over-year against slowing demand fueled by higher interest rates, prices, and payments and reduced incentive spending.
Two years ago, zero percent finance deals accounted for 14.6% of transactions. Last month, they only accounted for 7.4%. Edmunds analysts point to higher interest rates as one of the reasons for the scarcity in zero percent finance deals in August.
Average incentive spending in February is poised to fall for the first time since 2013 due to lower spending by Domestic manufacturers on trucks and SUVs. The two firms also project a 400,000-unit decrease in the SAAR and a 3% decline in retail sales.
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.
Break your late-winter sales slump by offering customers a new incentive to buy from your dealership today.
‘Da Man’ has a message for the manufacturers flooding the market with inventory and the dealers who have to sell it off.
Volkswagen will begin offering its new models for lower prices and provide dealers with a broader product range in a move that could lower residual values if incentives remain high, according to an industry expert.
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