The Weekly Automotive Market Update for July 20, 2020
Welcome to the Weekly Automotive Market Update with anchor Bridget Fitzpatrick. This week, new car sales ended up at a retail SAAR of 11.77, compared to 13.12 at this same time last year.
Inventory levels for new vehicles are currently at 2.7 million which dipped from last year's level at 3.4 million.
As the inventory levels of new cars fall, dealers are turning to used cars. The inventory of used cars sits currently at 1.5 million, a slight increase from last...
CBT News Market Update: KAR Global’s David Rymarz & LotLinx CEO Len Short
Recent CBT News MarketCenter powered by LotLinx data has found that the 2020 SAAR as of July 14, 2020, is 11,217,969 units, compared to 13,127,953 at this time last year. Sales for new vehicles are currently at 163,109 compared to last year’s level at 230,018, which makes a 29 percent year over year decrease. Used car sales, on the other hand, come in at 167,876 vs 180,000 in 2019; only a seven percent year over year decrease.
Here to discuss...
The Weekly Automotive Market Update for July 13, 2020
Welcome to the Weekly Automotive Market Update with anchor Bridget Fitzpatrick. This week, new car sales ended up at a retail SAAR of 11.56 units, compared to 13.12 at this time last year. Inventory levels for new vehicles are currently at 254,706 as well which compares to last year's level at 246,269.
While new car levels are up only slightly, many dealers are turning their focus to used car sales. Used inventory levels are currently at 227,820 compared to 176,951 this...
CBT News Market Update: LotLinx CEO Len Short & Bloomberg Auto Analyst Kevin Tynan
As macroeconomic conditions begin to stabilize and consumers slowly resume their pre-pandemic lives, a lot of auto retail markets saw an uptick in sales over the course of May and June. However, recent LotLinx data has found that new car sales were off 10.8 percent over the Fourth of July weekend vs a year ago. Used-car sales also boomed through June, but in recent weeks, they have cooled off significantly although they still remain in positive territory due to...
Adam Marburger on How F&I Managers Can Further Support Salespeople
COVID-19 has dramatically changed almost every department in the dealership and F&I is no exception. Creating a high level of consumer engagement early on...
Sonic Is Adding EchoPark Used Car Stores – Is This a Strategy More Dealer...
The fifth-largest American auto dealer group has announced plans to expand on their standalone used car dealership model known as EchoPark. As the pre-owned...
Cox Automotive’s Sandy Schwartz on Ending His Tenure as CEO and Welcoming New President...
Recently, powerhouse Cox Automotive announced a changing of the guard. Effective today, August 3rd, Sandy Schwartz transitions to a new role as CEO of...
The Benefits of Outsourcing Your Dealership’s BDC – Mark Sokal
March and April were shaky months for many dealers nationwide, and their vendor partners also felt the sting of less than stellar sales as...
Leading the Nation in PPP Loans, Texas Dealers Rely Heavily on Stimulus Through Pandemic
Texas has been undoubtably one of the hardest hit states for the continued spread of the coronavirus. As some areas of the country have...
Generate More Be-Backs with this Step-by-Step Guide
Before the age of the internet and smartphones, be-backs were done with voicemails and letters. However, today there is so much technology at a...
Mastering Your Vehicle Service Contract Sales
Listen up, F&I managers: When was the last time you took a long, hard look at your service contract sales? Were you happy with...
Eliminating Your Customers’ Fears
On this episode of the Saturday Morning Sales Meeting, David Lewis of David Lewis and Associates talks about understanding and eliminating your customers' fears...
June Kerrigan Report: Retail Automotive Bounces Back Strong
After some tumultuous activity, the Kerrigan Index settled down for the month of June. The index was up five percent that month, which means...
