TheStreet’s Post

These factors in the new car market indicate a growing challenge for dealers to make a sale...

A budget beating Q2 with the used car market remaining robust, with an average days to sell of 29 days reported by Auto Trader UK, resulting in a 12/13 x stock turn. If your dealership is not achieving a sub-29 days to sell and a 12 x stock turn, We can assist you in reaching these benchmarks and boosting your bottom line profits. Get in touch to learn how we can support you in achieving these targets. ian.godbold@igcdigital.co.uk #UsedCarMarket #AutomotiveSales #DealershipSuccess #SalesPerformance #MarketTrends #BusinessGrowth #CustomerSuccess #AutoIndustry #SalesStrategy #ProfitGrowth #Cardealerships #Cardealers #Automotivemarketing #Automotiveexcellence #Digitalmarketing

The worlds largest auto market is back! October auto sales rose the most in 5 months up 10.2% y/y. EV's accounted for 37.5% of the total helping to clear out excess inventory.

New car prices dropped slightly in March since the price increases before the pandemic. While there has been a substantial price increase in the last few years, it's interesting to find out the reason behind the price decrease and other pricing factors. Want to learn more? Check out the article below. #CarPrices #PricingFactors #EconomyUpdates #Motorlease #WhateverItTakes

New car incentives have soared by 53% as auto dealers grapple with rising inventories and weak demand due to elevated interest rates and inflation. Consumers are delaying car purchases or opting for more affordable options such as compact SUVs due to the high cost of financing new vehicles. Increasing dealer inventory levels and potential Federal Reserve rate cuts in the future could impact new auto prices. #grow🌱 #agribusiness #supplychain #trade #usa🇺🇸 #markets #commodities #stagflation #oil🛢️ #demand #interestrates🔥 #cars🚗 #recession2024 #thefed🏦

A recent report by Kelley Blue Book reveals an oversupply of new inventory has new prices continuing to trend down. The average new car sold for less in November 2023 than in November 2022 – the third straight month of year-over-year price drops. Incentives — those discounts that automakers or dealers advertise to attract buyers — are still below historical norms, but climbing back toward them. It is a great way to build up your used car inventory with superior new car trades from selling affordable New cars with OEM incentives

*Buckle up for a wild ride in the used vehicle market!** **In June, wholesale prices dropped 8.9% year-over-year.** **Electric vehicle prices fell even more, down 16.6%!** **Why? Vehicle inventories are bouncing back post-pandemic.** **New cars are more available, pushing down used car values.** **This has a domino effect on the entire market.** **If you’ve got an upside-down loan, brace yourself.** **Trading in a car worth less than you owe is tough.** **It’s like hitting a speed bump on the way to a new ride.** **These shifts could shape the market for months to come.** **How are you affected by these market changes?** **Share your thoughts below! 🚗💬** https://lnkd.in/g3q5Bqnx

🚘🔋 One of the headwinds for new #car sales are used car prices, that started to came down, while new prices still edge higher. Occasions simply turned more attractive again. Below the European picture, in the US the earlier price spike was even more extreme. Read all about what coming in global #automotive in our new outlook: https://lnkd.in/eW_pYd79 #ING

Question? Derren Martin Why are car values being crucified in the trade at the moment when: 1. Shortage of good used cars? 2. Retail prices are still strong? No one anywhere in the country from North to South can answer the question. Everyone and I mean everyone is having 100’s of thousands written off stock by what is essentially a guide which is inaccurate currently. I have bought cars today at the new guide price giving the end user a 30%+ margin which makes no sense. The side effects of the so-called trade prices are very clear, private customers can no longer trade vehicles due to these deluded values so the job is slowing, do the people at Cap work for the Bank of England??? Question for them: £38K Skoda Karoq Sportline, 6 months old now books at £22700 with 12,500 miles!!!! The cheapest on the internet anywhere is £28450 on a “23” plate… The car depreciated today… £1450.00 which is utter rubbish. The car has lost £4100 since October. No wonder dealer groups are sat on their hands when you are controlled internally by this nonsense… I’ve just asked “Dug the Pug” to sit with me and even he’s confused...

American car dealers are set to wrap the year with substantial incentives and deep discounts during winter sales, aiming to clear older vehicle stocks and prepare for the new year inventory. Inventory levels are currently at their highest since the early spring of 2021 - which means that dealers will see much lower margins on new vehicle sales as we wrap up '23 and enter '24 - possibly leading to lower net profits for Q1 in a historically slow sales time of year for dealers. https://buff.ly/3Rwakj2 Supplement the sales lull with a boost to the fixed operations profitability that your dealership is legally entitled to, (for work you're ALREADY doing). Let's chat through what the profit potential could be for your dealership(s) - https://buff.ly/3Dj5vTz