Cox Automotive’s inaugural Automotive Service Industry Study shows dealers are in a service retention “crisis,” having lost 12% of visits to independent competitors since 2018. +
Lotlinx analysts say new vehicle sales and supplies improved in a third quarter marked by a run on new EVs while a growing need to clear out 2025 units could produce an incentive-rich Q4. +
Dealertrack’s Credit Availability Index increased to 98.3 last month, offering a counter to affordability concerns and continuing a trend toward loosening conditions that began more than a year ago. +
The Presidio Group’s latest report finds the average dealer’s pretax profit and adjusted net income improved in Q3 while the M&A market kept pace with the year-ago quarter. +
Cars.com announced the launch of Carson, a new, AI-powered search tool that allows consumers to submit conversational queries and already boasts a 30% higher conversion rate. +
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. +
CDK’s fifth annual survey of U.S. service customers finds those who seek maintenance and repairs at dealerships remain loyal at a 70% rate despite a decrease in overall satisfaction. +
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. +
The Michigan Department of State briefly suspended LaFontaine Chevrolet’s license after accusing the store of selling “new” vehicles that don’t qualify as such under state law. +
Lithia Motors has acquired Anaheim Hyundai, Huntington Beach Hyundai and Garden Grove Hyundai, all located in Southern California’s Orange County, from Nouri/Shaver Automotive Group. +
