Average Age of U.S. Cars Hit Record High
U.S. consumers are using their existing vehicles for longer as the inventory of new cars and light trucks remains constrained due to supply chain challenges, marking an all-time high for the average age, according to a report from S&P Global Mobility.
American Car Center Taps Harmelin Media, Cites Local-First Approach
Affordable, pre-owned automobile marketer American Auto Center (ACC has tapped Philadelphia-based Harmelin Media as its media agency.
U.S. Vehicle Inventory up Slightly, Still Low
New-vehicle inventory in the U.S. continued to recover in April, albeit slowly, as automakers struggled to resupply their dealers while filling presold orders from earlier production constraints, according to data compiled by the Automotive News Research & Data Center and Cox Automotive.
The Latest Numbers on the Microchip Shortage: N.A. Plants Get Chip Reprieve
A short-term slowdown in semiconductor-related cuts should not be taken as a sign the microchip shortage is ending, AutoForecast Solutions warns.
U.S. EV Registrations Surge 60% in Q1, Driven by Tesla, Ford, New Korean Models
Despite semiconductor shortages, rising transaction prices and falling light-vehicle sales overall, battery-electric vehicle volumes are surging across the U.S., driven by luxury leader Tesla and new models from Hyundai Motor Group’s mainstream brands.
Despite Headwinds, EV Registrations Up 60%
miconductor shortages, rising transaction prices and falling light-vehicle sales overall, battery-electric vehicle volumes are surging across the U.S., driven by luxury leader Tesla and new models from Hyundai Motor Group’s mainstream brands.
Used Auto Prices Fall From Record Highs
Wholesale used-vehicle prices have fallen from a record high set in January, signaling the worst of sky-high prices related to higher inflation in the U.S. may be behind us.
Public Dealership Groups Grow Digital Sales, Create New Online Tools
Some of the nation’s public dealership groups said they sold thousands of vehicles on their digital sales platforms in the first quarter, while others expanded new tools to more customers.
Automotive National TV Spending Dips 14.4%
Automotive estimated national TV spending declined 14.4% in April, falling to $204.3 million vs. $238.7 million a year ago, per iSpot.tv.
Toyota, Honda, Hyundai, Kia Sales Fall by Double Digits Again as Chip Woes Linger
U.S. sales at Toyota Motor Corp., Honda Motor, Hyundai and Kia dropped by double digits in April compared with a year earlier, when industry volume soared briefly, as key parts shortages and jammed supply lines continue to undermine light-vehicle output and shipments.
Local Auto Dealer Ad Spend Grew 9% In ’21
Despite supply challenges, Americans bought 14.9 million new vehicles from auto dealers last year as low interest rates often led to consumers waiting for the cars and trucks that did make it to showrooms.
33,000 More Autos Cut From Production
Another 33,000 vehicles have been removed from automakers’ global production plans because of microchip shortages, according to AutoForecast Solutions.
Auto Parts, Service Business Sees COVID Rebound
Most categories of dealership service and parts businesses
continue to bounce back from earlier COVID-19 shutdowns,
especially customer-pay work, as customers drive more.
Car Dealers Got Creative and Efficient in Face of Low Stock, NADA Says
NADA says as new-vehicle inventory levels plunged last year, car dealers diversified how they source used vehicles and worked to improve salesperson productivity.
GM, Ford Battle Inflation, Rising Interest Rates as They Report Q1 Results
The far-reaching economic impact of the war in Ukraine, grinding supply-chain disruptions, inflation and rising U.S. interest rates all pose a threat to forecasts made by GM and Ford in January.
Top 100 Used-vehicle Retailers List Shows Shift in Focus To Used Cars
The shifting reliance by car dealers on used vehicle sales in 2021 was seen up and down the Automotive News annual ranking.
Opinions About EVs Are Improving
Electric vehicles (EVs) are earning rave reviews fromU.S. consumers. A majority (52%) say they have positive impressions of EVs, vs. 18% who have negative opinions, according to a new survey released by the National Association of Convenience Stores.
CPO Auto Sales Keep Up Sequential Growth
Good news, bad news for certified pre-owned vehicle sales
last month, according to Auto Remarketing.
Automakers Cooperate In Promoting EVs At New York Show
In a rare moment of cooperation instead of competition, a handful of automakers are sharing the figurative stage at the New York International Auto Show.
More Buyers Excluded From New-Vehicle Market
Two years after the COVID-19 pandemic tore through the economy, Fortune reports, America’s auto market looks something like this: Prices are way up. Supply is way down. And gasoline costs way more.