U.S. auto dealers remain confident in the market despite slowing profitability and traffic, expressing “cautious optimism” thanks to strong sales and low unemployment. +
A 31% jump in EV lease penetration helped drive front-end gross on new lease deals into negative territory for the first time since 2020, according to the latest StoneEagleDATA report. +
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. +
Each of the six manufacturers reporting monthly U.S. sales to the Automotive News Data Center says volumes were up on a year-over-year basis in July, led by a 19.9% increase for Toyota. +
Abdel Alnubani announced the launch of DealerLytix, an AI-powered software suite designed to “outsmart the market” to give dealers and acquisition specialists a competitive edge. +
Lotlinx’s latest report finds U.S. dealers sold fewer EVs with more supplies in the second quarter as a market “fueled by affordability” steered price-conscious car buyers into gas and hybrid units. +
AutoCanada announced the sale of 13 of its 17 U.S. franchised dealerships to multiple unnamed purchasers in a series of deals worth more than $60 million. +
Len Short of Lotlinx lists five ways dealers are using predictive modeling, a core aspect of AI, to improve efficiency and make more accurate forecasts and data-driven decisions. +
Cox Automotive analysts fear manufacturers and retailers are protecting consumers from the rising costs of new cars, creating an unsustainable dynamic as profitability concerns grow. +
Lotlinx reports new vehicles in stock at U.S. dealerships carried over at a rate of 51% in May, a 3% increase over the same month a year ago, and days’ supply improved by five days to 64. +
