New-vehicle sales are off to a slow start in 2019, down 2% in Q1. It would have been worse without strong fleet sales. Retail sales were down 4% in the first three months of 2019. Fleet was up 6%. The used-vehicle market, on the other hand, continues to see favorable performance. Affordability concerns driven by … Continued
Affordability pressures generally benefit the used market and strengthen demand as a result of buyers being priced out of the new market. New-vehicle prices are at record highs and interest rates are at 8-year highs. Perhaps this is one of the reasons that we saw sales of certified pre-owned vehicles increase to 677,038, up 0.4% … Continued
The first-quarter of 2019 came to a close last week, with new-vehicle sales in March coming in slightly stronger than anticipated as the quarter closed. Still, sales in Q1 2019 were down 2.7% versus year-ago levels. Had it not been for strong fleet numbers the results would have been worse. Retail sales were down 4% through … Continued
Like the used market, the new-vehicle market showed weakness in March. March new-vehicle sales were down 2.2% year-over-year, with one less selling day compared to March 2018. However, the March 2019 SAAR came in at 17.5 million, improving versus last year’s 17.2 million. Cars continue to see declines, as sales in March fell 7.9% compared … Continued
One of the most intriguing trends for the year is what has happened and is happening with interest rates. At the end of last year, the Fed remained hawkish and very resolute about pushing rates higher in 2019. After a stock correction, they turned to patience as the mantra. And this month the yield curve … Continued
The wholesale market plays a central role in facilitating the flow of used vehicle inventory. Like 2018, this year is poised to be a great year for offsite digital volume growth. That does not mean traditional auction volume will collapse, but growth in the flow of vehicles will favor non-tradition channels and not the physical … Continued
The already struggling Chevrolet Bolt electric car got another jolt this week when the federal tax break on it was reduced. Beginning April 1, the once $7,500 federal tax break for purchasing an electric vehicle began winding down for General Motors’ EVs, like the Bolt, and plug-in hybrids, like the Chevrolet Volt that is being … Continued
You can visualize the relentless rise of new-vehicle prices in the U.S. market in many ways. Average transaction price – ATP – is a common measure, showing the amount consumers pay for a vehicle, including all rebates and incentives. Or look to the average monthly loan payment for a new vehicle, which is currently more … Continued
In the last 10 years, most non-luxury brands have benefited from the explosive growth in SUVs. Brands such as Subaru and Kia have seen massive increases in their overall sales, while Dodge saw negative growth in car sales and comparatively modest SUV gains. SUV sales growth is up 16 percent in the last two years, … Continued
Sales of certified pre-owned sales are off to a slow start in 2019. Sales are down 1 percent year-to-date compared to the same time last year, according to Cox Automotive. Much of the weakness has been driven by a sluggish January where sales were down 2 percent. Even with the slow start, Cox Automotive is … Continued
