U.S. Sales and inventory rates are up modestly from last year, says a new report from Cox Automotive. However prices for new vehicles remain high, despite the new supply available. Sales are expected to increase nearly four per cent from …
The S&P Global Mobility auto outlook for 2023 continues to carry a countercyclical narrative: they “expect production levels will continue to improve even as economic conditions are worsening through the early stages of the year”. Together with improving production volumes, …
The Canadian used wholesale auto market was down -0.29%, according to Canadian Black Book. The 2017-2019 average was -0.23%. The Canadian wholesale market for used cars declined, down -0.33%, and trucks were also down more from last week at -0.25%. …
Last week Lithia & Driveway reported the highest fourth quarter revenue in company history. According to a company release, the fourth quarter 2022 revenue increased 11 per cent to $7.0 billion from $6.3 billion in the fourth quarter of 2021. …
We may have to be prepared for some short-term pain before long-term gains To say that the past few years have been the catalyst to a ”new normal” would be an understatement. So many different world events since 2018, and …
Honesty and transparency about the economy will help with consumer anxieties Automobile dealerships have been some of the most affected by the current economic situation. After months of longing for more inventory, dealers are now caught in a scenario where …
I hated studying economics in school. Too theoretical, I thought. I’ll never see this in the real world, I thought. Boy, was I wrong! Economics explains the balance between customers’ unlimited wants and their limited resources (usually cash) to acquire …
In uncertain times, it’s best to “hope for the best, plan for the worst” The last time Canada had vehicle sales results as low as they were last year was during the financial crisis in 2009. The question on everyone’s …
Despite continuing challenges, there are encouraging indicators for the coming year As we move into the initial months of 2023, the auto sector continues to face significant supply chain issues which, in turn, have impacted inventory on many new car …
How to actually increase your market share during a slowing vehicle sales environment Vehicle sales may slow down over the next two or three business quarters. This depends on your brand and geography. However, even during periods of sales decline, …
NEW BRUNSWICK Century Auto Group successfully expands into Saint John market Investing into Saint John, New Brunswick, has been an intelligent business move for Century Auto Group, a Nova Scotia-based family-owned dealership group. Century Auto has been in operation for …
What BEV buyers need to know about EV-specific tires With sales of Battery Electric Vehicles (BEVs) rapidly increasing in Canada, it is important that customers, especially first-time BEV buyers, are well tutored in what to expect from their new vehicles …
