Higher Interest Rates Could Trickle Down to Auto Demand
Vehicle buyers are likely to feel the Federal Reserve’s 0.75-point interest rate increase, analysts from Cox, Moody’s and Edmunds agreed.
North America Production Tracking toward Gains in Q2 and Q3
Supply-chain disruptions remain a major roadblock, and are hurting some automakers more than others, but growth in production is resuming, meaning new-vehicle inventory should start showing signs of improvement in North America.
New Vehicle Prices Surge, but There’s No Shortage of Buyers
The average new vehicle now costs nearly what a typical American — or even an entire household — makes in a year, but nobody seems all that concerned.
Nexstar Learns To Live Without Auto
Nexstar executives told the Credit Suisse virtual conference that it has yet to see even modest recovery from the auto sector, though it’s still finding other categories to plug the hole.
Wholesale Auction Companies Seeking To Reinvent Amid Change
The wholesale used-vehicle auction landscape is transforming as the business grapples with a major digital shift, new competitors, defecting dealer customers, shrinking vehicle inventories and big moves by leading players.
U.S. Vehicle Inventory Stays Flat at 1.13M
New-vehicle inventory in the U.S. stayed nearly flat in May from the previous month as supply disruptions and continued strong demand made it difficult to refill depleted stocks, according to data compiled by the Automotive News Research & Data Center and Cox Automotive.
Car Dealers Positive, but Less Optimistic About Next 3 Months
Despite similar profits and market conditions, franchised dealerships polled by Cox this spring were a little less optimistic about the future than they were in the first quarter.
Ford, Kia Leaders in Mainstream EV Registrations
Ford topped new-vehicle registrations for electric vehicles among mainstream brands in the first four months of the year, followed closely by Kia and Hyundai, Automotive News reports.
‘Switch Has Been Flipped’ on Global EV Growth, Forecast Says
BCG anticipates 59% of all new vehicles sold worldwide will be BEVs by 2035.
U.S. To Propose Rule on Minimum Standards for EV Chargers
The proposal comes as the federal government moves forward on a plan to build a nationwide network of 500,000 EV charging stations by 2030 with funding from the $1 trillion infrastructure law.
Wholesale Used-Auto Prices Up 0.7% in May
After cooling a bit in the first half of the year, wholesale used-vehicle prices grew in May, but at nowhere near the pace of the record monthly increases seen in 2021.
Auto Shortage Drives Up Borrowing Costs
Borrowers with subprime credit are pinched in the current auto finance market, with the average amount borrowed and the average monthly payment up disproportionately on subprime loans and used vehicles, compared with primerisk borrowers and new vehicles, Wards Auto reports.
Market Loses More Steam; SAAR Tumbles to 2022 Low
May U.S. auto sales: Ford, Toyota, Honda, Hyundai, Kia, Subaru post declines behind choked supply chains, tough comparison to robust May 2021.
Toyota, Honda, Hyundai, Kia, Subaru Sales Slump Again in May
May U.S. auto sales: Toyota, Honda, Hyundai, Kia, Subaru post double-digit declines behind choked supply chains, tough comparison to robust May 2021.
Toyota Leads VW by 1M+ Autos in Sales Race
Toyota Motor looks poised to repeat as the world’s largest automaker for a third straight year, having outsold Volkswagen by more than 1 million vehicles through April.
Tavares Sees Looming Shortage of EV Battery Materials
Automakers are planning more than a dozen battery plants across North America, but CEO Carlos Tavares thinks they may not be able to keep up with the volume of EVs in the pipeline.
Automotive Marketers’ Fraud Rate On CTV Higher Than Non-Auto Advertisers’
The fraud rate for automotive marketers buying connected TV (CTV) is 52% higher than for non-automotive advertisers, according to digital media measurement and analytics company DoubleVerify.
New Car Sales to Plunge 20.9% In May
Retail sales of new cars are forecast to fall 20.9% this month compared to the same time last year, amid vehicle shortages and sky-high prices, according to the automotive research firms J.D. Power and LMC Automotive.
VW Reboots to More Flexible U.S. Advertising Strategy
As it was still trying to get past its 2015 global diesel emissions scandal, Volkswagen of America in 2019 unleashed a new campaign called “Drive Something Bigger than Yourself” that touted causes ranging from water conservation to highway traffic de-congestion.
North America Production Still Headed for First Quarterly Increase Since First-Half 2021
Although supply-chain challenges still heavily crimp most automakers’ ability to build to capacity, April’s year-over-year production gain was the first in 11 months, and Q2’s expected increase will be the first for any quarter since the year-ago period.