Trending Auto Retail News
New-Vehicle Inventory Dropped to Start June
Four days. That is the amount of time that new-vehicle inventory declined, sitting at 74 days when the month of June started according to an analysis of Cox Automotive’s vAuto Live Market View data. Spurred by Memorial Day Sales, the reduction of the previous model...
Benchmark Data Suite Unveils Cutting-Edge Benchmark Alert System for Dealerships
Chicago, Illinois June 10, 2024 — Benchmark Data Suite, the industry leader in automotive solutions for actionable decision-making across dealerships, proudly announces the launch of the Benchmark Alert System. This state-of-the-art feature empowers dealers by...
Used EVs Require CPO Process
While some identify the increasing number of used electric vehicles (EVs) as a problem for the industry, others view it as an opportunity. It could be regarded as both, and the result will depend entirely on how auto manufacturers and retailers respond to the current...
May New-Vehicle Sales Price Continue to Trend Lower, Down Nearly 1%: Kelley Blue Book
New-vehicle prices continued an eight-month streak of being lower than the month before, aided by high incentives. According to estimates by Kelley Blue Book, the average transaction price (ATP) in May for a new vehicle in the U.S. was $48,389, statistically unchanged...
How to Use Video to Merchandise CPO Vehicles
The average price for a new vehicle in March 2024 was $47,218 according to Kelley Blue Book. Combined with high interest rates, that price range is out of reach for many car shoppers, who are instead opting to purchase pre-owned and certified pre-owned (CPO) vehicles....
2024 Digital Dealer Awards: Best Dealer
As part of our continuing efforts to celebrate the auto industry and those involved, Digital Dealer is proud to announce the Digital Dealer awards program for 2024. Among the six categories is Best Dealer. The award contest is open to submissions from businesses or...
Morgan Auto Group, Firelands Auto Group, Fisker and Craig Zinn Automotive Group: Dealership Sales Roundup
Morgan Auto Group Purchases Hollywood Kia in Florida Hollywood Kia has been sold to Morgan Auto Group, according to Haig Partners LLC who served as the exclusive sell-side advisor on the sale. Hollywood Kia is located in Hollywood, FL and was owned by Joe Levy and...
How Are Stagnant Auto Sales Impacting Organizational Digital Transformation Strategies?
As we near the mid-way point of the 2024 year, there are many fascinating characteristics of today’s auto industry. Some of these are defined by the broader macro economy, and yet others are a result of organizational evolutions continuing to take place from ongoing...
automotiveMastermind Introduces Showroom to Enhance Hyper-Personalized Consumer Experiences for Dealers
NEW YORK (June 11, 2024) – automotiveMastermind, the automotive industry’s trusted data and technology provider, has introduced Showroom to its Mastermind technology. Showroom is designed to transform each customer touchpoint into a discovery opportunity for dealers...
Politics Increasing Concern for Dealers in Cox Sentiment Index
The Cox Automotive Dealer Sentiment Index (CADSI) remained stable in the second quarter despite dealer uncertainty in politics, market and economy. The Q2 score of 42 released June 10 indicates most U.S. auto dealers see the market as weak, three points lower than a...
Transforming Consumer Perception: Educating for Electric Vehicle Adoption
As Tesla goes, so goes the U.S. electric vehicle (EV) market. Elon Musk’s ownership of his reputational scores aside, he cited the main reasons for Tesla’s first-quarter sales decline since COVID-19 impacted Q2 2020 as high-interest rates and production issues...
Urban Science Launches EV Sales Forecasting, Advanced EV Sales Insights, for Automakers with U.S. Retail Operations via MarketView Solution
DETROIT – Urban Science, a leading global automotive consultancy and technology firm, today announced the launch of its science-driven electric vehicle (EV) sales forecasting analysis for automakers with U.S. retail operations through its MarketView solution – a...
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