July 2019 is expected to be officially the hottest month in history, temperature wise. The same might be said for the level of sales incentives offered by the automakers. This time of year, we often see a slowdown in the number of incentives available, as model year changeovers and strong spring sales have dwindled vehicle supply on dealer lots. That was not the case last month. (See chart below). The volume of unique incentive programs ran high in … Continued
In an auto market that is down year to date, sales of luxury vehicles are perhaps a bright spot. Non-exotic luxury sales were up 6% year-over-year in June and up 2% in the first half of the year. The seasonally adjusted annual sales rate (SAAR) for luxury came in at 2.17 million in June, up … Continued
Sales of certified pre-owned (CPO) vehicles decreased 0.09% in June compared to June 2018 and were down 4.4% compared to May. For the month, 240,844 CPO units were sold. This brings the total number of CPO units sold in 2019 to 1,403,285, up 1.3% year to date versus 2018. Even with the decrease in June, … Continued
After rising to worrisome levels throughout the spring, vehicle inventories remained pretty well in check to start July, though light truck inventories edged higher. May sales popped above forecasts, sopping up some of the inventory that had built up during weak sales months in winter. Similarly, June sales came in stronger than expected, helped by … Continued
With the new Corvette, Chevrolet has rethought everything, giving its two-seater a mid-engine layout for improved performance and a more exotic, stand-out design. With these moves, Chevy likely envisions a Corvette among a more exotic competitive set, high performers such as the Acura NSX and Porsche 911. Our team at Kelley Blue Book looked at … Continued
For many, the big story in the all-new 2020 Chevrolet Corvette being unveiled this evening will be price. The number has yet to be announced, but speculation is that it will be far higher than the $56,000 base price of the current Corvette. An all-new structure with a mid-engine configuration will not come cheap, and … Continued
General Motors is rightfully looking for new customers for its Chevrolet Corvette, as the current crop of loyal buyers begins to age out of their sports-car-buying years. It’s an admirable pursuit, but not an easy one. Seeking higher performance and a more exotic structure often pushes cars into higher, thinner air. Sustaining sales gets more … Continued
Last week we closed the books on the first half of 2019, with June sales coming in at a healthy clip but the overall market down from year-ago levels. Fleet sales are stronger than retail sales and SUVs/Crossovers are performing better than cars. No surprises, really. We are rolling in a post-peak world right now. … Continued
In the first half of 2019, the new-vehicle market in the U.S. has been propped up in part by strength in fleet sales. Combined rental, commercial and government purchases of new vehicles were up 5% year-over-year in June, following an even stronger gain in May. The rental fleet channel was strongest in June, up 11% … Continued
In a recent survey of car shoppers visiting Kelley Blue Book’s website, free maintenance for 2 years was voted the top most-appealing offer when purchasing their next vehicle, by a wide margin. Roadside assistance and monthly car washes finished a distant 2nd and 3rd in the survey, demonstrating car buyers will be most tempted by … Continued
