Supply Strain Slows New Vehicle Sales
The current low-supply, high-demand situation means finding and buying a new vehicle may be a challenge.
The current low-supply, high-demand situation means finding and buying a new vehicle may be a challenge.
High consumer demand and low inventories have allowed Ford to push average transaction prices to new highs.
Hybrids and plug-ins still dominate the electrified market, but with quarter-over-quarter sales up 201%, automakers are pointing to a future with more EVs.
The digital platform enables consumers to transact 100% online.
The latest trends in key indicators suggest wholesale used vehicle values will continue to see depreciation in the days ahead.
Chip shortages and surging demand are squeezing used vehicle sales while inflating prices.
For the first time in a decade, vehicle buyers were essentially paying sticker price (MSRP) for new vehicles.
By expanding its nationwide local auction network, Manheim now hosts 49 sales per month nationwide with dealers averaging a 77% sales efficiency rate based on data.
Key reasons: Prices paid moved higher, incentives declined, and estimated median incomes fell.
The pilot program underway at two sites to expand capabilities will provide more vehicle data to clients.
James Davis, customer strategy and insight director (commercial vehicles) for Cox Automotive Europe, passed on July 11, 2021. He was 47 years old. In this position, Davis assumed an industry thought leadership role that involved building, sustaining, and evolving deep long-term open trust relationships with customers, business partners, suppliers, and industry bodies.
Market watchers had been expecting this slowdown to come earlier in the summer, but deals could still be made. Now there just isn’t enough product available.
Digital transactions have grown tremendously at XLerate over the last five years, and digital is a key component of its omnichannel, go-to-market strategy.
New analysis finds businesses and governments can grow used electric vehicles market by 40% in 2030 by transforming fleets.
The Manheim Used Vehicle Value Index hit a record high of 203, and likely won't reach into the 200s again for several years.
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