Edmunds reports the average transaction price for a U.S.-sold pre-owned vehicle increased by 5% to $31,067 in the third quarter, accompanied by a four-day uptick in lot times. +
Each of America’s six largest publicly traded dealer group say gross profit per new vehicle retailed declined on a year-over-year basis in the third quarter, some by double digits. +
Automotive News reports U.S. new vehicle sales registered a 1.2% overall improvement in October despite waning EV demand, led by increases for Toyota, Ford, Honda and Kia. +
Presidio and NCM analysts say Q3 net pretax profit metrics varied wildly among domestic, import and luxury dealers in a report skewed by EV sales and echoes of the CDK Global outage. +
Kelley Blue Book reports the average transaction price for a U.S.-sold new vehicle exceeded $50,000 for the first time in September despite increased incentive spending. +
In a post-tax credit world, CarEdge’s Justin Fischer believes the same EVs that sold themselves through government incentives are being sold just as effectively by family, friends and coworkers. +
Despite tightening among captive finance companies, the Credit Availability Index was essentially flat on a month-to-month basis in September, ticking back up to July’s 98.1 mark after falling by 0.2% in August. +
Ford has followed General Motors by unwinding a program intended to claim expiring $7,500 federal EV tax credits for future customers under pressure from U.S. Sen. Bernie Moreno. +
GM tells Bloomberg the factory will replace the expired $7,500 federal EV tax credit with $6,000 in “lease support” cash following unrelated reports of a similar move at Stellantis. +
Tesla delivered 497,099 units to U.S. buyers and lessees in Q3, setting a single-quarter record as the clock ran out on the $7,500 federal EV tax credit. +
