During a quarter where new-vehicle sales slipped, used-vehicle sales grew for Asbury Automotive, one of the six largest publicly traded dealer groups. However, while more used vehicles were sold, less gross profit was generated, and off-lease vehicles are partly to blame.
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Kelly Blue Book expects 1.43 million new vehicles will be sold in July, which is 6% less than the same time last year. The forecast would put the seasonally adjusted annual rate at 16.7 million for the fifth month in a row with a new-vehicle SAAR below 17 million.
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The continued weakness in the sedan segment compounded with declining fleet sales led to a year-over-year decline in new-car sales during June, according to the NADA.
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New-vehicle sales through the first six months of 2017 are expected to be down 2.3%, and high quality off-lease vehicles may be part of the reason why, according to Kelley Blue Book.
Read More →New-vehicle sales are expected to total 1.63 million units in March, a 3% year-over-year increase, resulting in an estimated 17.4 million seasonally adjusted annual rate, according to Kelley Blue Book.
Read More →New-vehicle sales are expected to be down 3% compared to the same time last year, for a total of 1.3 million retail and fleet vehicles sales during February, which lowers the estimated seasonally adjusted annual rate (SAAR) to 17.1 million compared to February 2016’s 17.6 million SAAR.
Read More →Due to the continued demand for larger vehicles, nearly every manufacturer in the U.S. saw higher average transaction prices in January, according to Kelley Blue Book.
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The industry is expected to sell 1.13 million new vehicles in January, a 3% decline over the same time last year, and a 33% decline from the month before, according to Kelley Blue Book, resulting in a seasonally adjusted annual rate (SAAR) of 17.4 million.
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The 3.1% year-over-year increase in new-vehicle sales in December was more than enough to push the industry’s annual sales tally above the 17.5 million-unit mark for 2016, according to Autodata Corp.
Read More →The estimated average transaction price for light vehicles reached an all-time record high of $35,309 in December.
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