Trending Auto Retail News
Cox Forecast: New-Vehicle Sales in March to Jump 4.5% from Last Year
The first three months of new car sales is shaping up to be a winner. Cox Automotive is forecasting U.S. new-vehicle sales for the first quarter of 2024 will increase 5.6% compared to last year, reaching 3.8 million units. The year-over-year increase suggests that the...
Dealer Magazine: Interview with NADA Chairman Gary Gilchrist
Dealer Magazine had the privilege of talking with Gary Gilchrist, the 2024 chairman for the National Automotive Dealers Association (NADA). Gilchrist is president of Gilchrist Chevrolet Buick GMC, Inc. in Tacoma, WA, a family-owned dealership that has been for over 90...
Dealers, Consumers Confidence in Electric Vehicle Drops
Dealers and owners are expressing disaffection with electric vehicles (EV). In the Cox Automotive Dealer Sentiment Index (CDSI) poll released earlier this month, a majority of dealers say sales are worse than they were a year ago. That was followed by a J.D. Powers...
Enhancing Security for Recent FTC Safeguards and Rule Changes
In October 2023, the Federal Trade Commission (FTC) implemented an amendment to the Safeguards Rule. This latest development adds a layer of responsibility for dealerships to safeguard sensitive customer information, particularly when it comes to document management.
CNA National Tops $28 Million in Dealer Distributions for 2023
Scottsdale, Ariz.—CNA National Warranty Corporation returned more than $28 million to automobile dealers across the U.S. through its participation programs for 2023. The organization’s inception-to-date total stands at more than $712 million. “Whether it’s our...
Inventory Continues to Grow for U.S. Auto Dealers
Dealers in the U.S. are entering the second quarter of 2024 with an inventory that has increased over 50 percent from last year. According to Cox Automotive, dealers nationwide opened in March with 2.74 million new vehicles on hand— 942,000 units, or 52 percent, more...
March New Car Sales Projected to Increase 12 Percent Over Last Year
According to a joint forecast from J.D. Power and GlobalData released March 21, total new-vehicle sales for March 2024 are projected to reach 1,525,700 units, a 12.1 percent increase from March 2023 The seasonally adjusted annualized rate (SAAR) for total new-vehicle...
Jeff Wyler Automotive Family Completes First New Car Sale 100% Online with WylerComplete, a First in the United States
Cincinnati, Ohio, March 20, 2024 – Jeff Wyler Automotive Family announced the first new car sold completely online with its WylerComplete tool. Unlike other dealers who promote “100% Online” buying solutions which are designed to generate a sales lead and a...
EV Voice of the Customer Welcomes EPA Relaxations on Emissions, But Wants More Done on EV Targets
While happy that the Biden Administration relaxed tailpipe limits, a group representing over 5,000 dealerships reiterated a more realistic goal is needed when it comes to the sale of electric vehicles (EV). Announced on March 20 by the federal Environmental Protection...
Stellantis Reaches Emissions Agreement with California
Stellantis reached a deal on March 19 with the California Air Resources Board (CARB) on emissions aligned with the state's efforts to combat climate change. Under the agreement, the maker of Chryslers and Jeeps will comply with California's zero-emissions, light-duty...
Lexus Leads for Third Consecutive Year in Dealer Services
Lexus, Buick and Mini were the top of their category on the latest J.D. Power survey when it came to dealer service. Lexus ranks highest in satisfaction with dealer service among premium brands for a third consecutive year, with a score of 897 out of...
Dealers More Hopeful in Q1 2024: Cox Poll
A recent survey found dealers more optimistic than they were at the end of last year—but are still worried about major economic headwinds consumers are facing. The recently released Cox Automotive Dealer Sentiment Index (CADSI) resulted in a score of 42 out of 100...
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