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Used sales jumped almost 4% in May to their second-highest monthly total in more than a year as consumers turned to more affordable used options, according to new data from automotivemarketing and data software firm ZeroSum and car-shopping platform Edmunds. million units for the month, up from 1.32 million in May.
The entire report that offers insights into the current state of the automotive retail market for both new and used vehicles, inventory risk, vehicle sales, consumer preferences and markdown/pricing strategies can be downloaded here.
One such process is the time-consuming vehicle registration and ownership transfer process. Have you ever downloaded the title clerk’s training manual from your state DMV? In today’s competitive automotivemarket, efficiency must be a priority. Training an inexperienced title clerk takes time, patience and resources.
Dealership service departments are not only losing market share to general repair shops — they’re also losing the trust of consumers, according to the latest research by Cox Automotive. As a result, they’re bringing their vehicle in for service or maintenance more often: an average of 2.5 times a year, up from 2.3
Vincensus is a syndicated report designed to demonstrate the state of automotive inventory across major OEMs and serve as a detailed comparative analysis that shows how each OEM is performing against industry benchmarks so dealers can see where they rank among their competition.
Each month and quarter, the Vincensus Report will offer deep real-time data and insights visibility into the trends shaping OEM-specific and dealership inventory for both new and used vehicles, as well as key data on vehicle pricing and markdowns. ” Click here to download the inaugural Q1 Vincensus Report.
In the face of uncertainty in the automotivemarket, the American economy in general and the nation’s political future, the outlook of car dealers remains remarkably steady, according to the latest Cox Automotive Dealer Sentiment Index. Overall, dealer sentiment is likely worse than actual market conditions,” Smoke said.
million vehicles, near the bottom of the range of forecasts — 15.6 Power/GlobalData, Cox Automotive and S&P Global Mobility 1. Following the pandemic, the shortened supply of new vehicles put dealers in the drivers’ seat, controlling much of the pricing and profit on each transaction.
Courtesy of the internet, smartphones and other technologies, consumers know more about vehicles and how to acquire them than ever. Consumer Insights Report from CarGurus reinforced this market condition. Six primary findings from the sixth annual U.S. Here are the six survey findings that prompted CarGurus to make those assertions.
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