Dealers can boost electric vehicle sales when they take an educational stance with consumers.
Ford CEO Jim Farley wants to maintain the company’s build-to-order strategy after the chip shortage ends. Will consumers adapt?
Fed Chair Jerome Powell has said the committee plans to complete tapering before raising rates, and markets are targeting June as the possible date for the next rate hike.
Combined sales at the seven major automakers that release monthly results dropped 17% in October. Automakers cite the semiconductor chip shortage and supply chain bottlenecks as the reason.
While sales of new vehicles declined 13.4% year over year in Q3 due primarily to low inventory and high prices, sales of electrified vehicles jumped by nearly 60%, according to an analysis by Kelley Blue Book.
Cox Automotive and LMC report new-vehicle inventories shrank to just over 915,000 in September and predict further shrinkage as production issues and supply shortages linger.
Automobile sales in September are forecast to slow for the fifth straight month, as tight inventory, high prices take a toll on the industry.
Current inventory levels rest at a 31-day supply for U.S. dealers, reports Cox Automotive subsidiary vAuto.
The slowing auto market will lead Cox Automotive to revise downward its full-year new-vehicle sales forecast.
August will be a fourth consecutive month of slowing sales and looks to be coming in even lower than our forecast of 1.2 million, a 9% decline from August 2020.
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