September Sales Forecast To Be Up YOY Despite Setbacks
Sales in Q3 are expected to surpass 3.9 million, a jump of more than 15% from the same timeframe one year ago.
Sales in Q3 are expected to surpass 3.9 million, a jump of more than 15% from the same timeframe one year ago.
During the last two weeks, Manheim Market Report (MMR) prices declined an aggregate of 0.3%, which was less than half of the normal decline for this time of year.
Analysis: The actions of the UAW will reverberate through the larger auto business, but nowhere near what was experienced in April 2020. Sales into fleet could suffer in 4Q if a strike is wide and persists. Rental car companies may return to the used car market like they did in 2021 and 2022, driving prices higher.
Amid a nationwide shortage of truck technicians and automotive mechanics, the fleet services division finds a way to keep and train enough vocational talent for long-term careers that meet maintenance demand.
The United Auto Workers contract with the Detroit Big 3 automakers expires Sept. 14 as new inventory remains 68% above last year's level.
U.S. fleet sales for August were strong and reached levels for the month not seen since 2019.
IARA Summer Roundtable: From the latest vehicle market dynamics to technology influences to electric vehicle shortfalls, the International Automotive Remarketers Alliance bonded over the big issues while teeing up member and industry growth.
Studies show the importance of brand strength, which is true in the full-size pickup truck segment where brand loyalty often runs deep and fierce.
The average listing price of a vehicle remained above $47,000 since April, while the ATP of a new vehicle in July was $48,334 compared with $48,671 in June.
The deal further positions Cox Mobility in the fleet maintenance sector and expands its servicing of light, medium, and heavy-duty trucks and trailers.
All major market vehicle segments saw price declines year over year and all were down compared to the previous months, except for one.
All large manufacturers showed gains in fleet over last year, with combined sales into large rental, commercial, and government fleets improving.
Overall engagement with the International Automotive Remarketers Alliance has risen across the board in the final stretch before its annual conference.
Analysis: An increase in one-off moves, overall wholesale industry growth, and OEM production increases are driving prices higher versus pre-pandemic levels.
The last several months have closely followed 2019 levels, the last normal year, which means dealers are balancing their inventory to the sales rate and keeping days’ supply steady even as total supply improves.
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