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. +
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. +
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. +
Toyota, Hyundai and Ford lead in year-over-year gains in Automotive News’s Q3 and September sales reports, which show a boom for electrified units and welcome news for Stellantis dealers. +
Edmunds’s Q3 auto finance report shows the average down payment for a new vehicle fell to $6,020 while $1,000-plus monthly payments, loan terms and interest rates remain high. +
Hyundai and Genesis dealers set new one-month records in August, a month that saw double-digit year-over-year gains for some factories and single-digit losses for others. +
Fullpath has acquired Fuse Autotech’s Dynamic Payments solution in an effort to deliver personalized offers in real time to car buyers on Fullpath’s “AI-first” Customer Data Platform. +
Kelley Blue Book analysts say strong, steady incentive spending kept new vehicle prices in check in July, a month in which EV discounts soared to record highs ahead of significant changes to federal policy. +
