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Tynan

Bloomberg Senior Analyst Kevin Tynan on the current state of...

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From pivoting to digital retail to inventory and chip shortages, the pandemic played a key role in what retail automotive looks like today. On this edition of Inside Automotive, we’re joined by Bloomberg Intelligence’s Senior Automotive Analyst, Kevin Tynan, to get his take on where the auto industry stands. When you look at transaction prices […]
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prices

As incentives drop and prices rise, how can dealers convert...

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For the first time as an industry, the average transaction price for new vehicles scratched its way across the $46,000 mark according to Kelley Blue Book data. At $46,036, it’s clocking in at 102% of MSRP. Yes, that’s 2% higher than the sticker price, on average. Customer demand is pushing the selling price well above […]
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sales

Are the October & November auto forecasts a sign of...

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New vehicle sales are expected to slide well into the double digits when October’s sales are reported, according to J.D. Power and LMC Automotive. Their joint forecast estimates total US retail sales of 943,500 units this month, representing a decrease of 17.4% compared to October 2020 when dealer lots were still full of cars. And […]
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Jominy

J.D. Power’s Tyson Jominy on the state of the automotive...

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We were all anticipating relief from the inventory and chip shortages by now, but unfortunately, as most experts predicted, we are still dealing with the crisis in the third quarter of 2021. J.D. Power recently released its monthly forecast. On today’s show, we’re pleased to welcome Tyson Jominy, Vice President of Data and Analytics at […]
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JD Power and LMC Auto release automotive forecast for August 

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Last Thursday, JD Power and LMC Automotive released their projections for August 2021. Their joint assessment showed that sales are likely to see a significant drop from August 2020 and even more so from August 2019. Specifically, when adjusting statistics to even outselling days, new vehicle sales are projected to drop 14.3% from August 2020 […]
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prices

How out-of-control prices are impacting both the new and used...

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New and used vehicle prices continue to climb to record high levels. On today’s show, we’re pleased to welcome Jessica Caldwell, Edmunds’ Executive Director of Industry Insights, to give us her take on how it may impact the overall market. The average transaction price of a new vehicle was close to $42,500 last month. Caldwell […]
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July vehicle prices hit all-time high while incentives vaporize

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The average transaction prices for new vehicles are pushing vehicle purchases into unaffordable territory for shoppers – at least, for those who can find the vehicle they want. According to Kelley Blue Book, the average transaction price through July 2021 reached a never-before-seen high of $42,736, marking an 8.2% increase over July 2020. Month over […]
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Bloomberg’s Kevin Tynan discusses key auto industry insights from Q2

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Second-quarter numbers are officially in. On today’s show, we’re pleased to welcome back Kevin Tynan, Bloomberg Intelligence’s Senior Automotive Analyst, to discuss earnings for the quarter and how the market is shaping up. Tynan begins the conversation, by explaining where the market stands based on the second-quarter numbers. Tynan says, inventory is the constraint and […]
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high mileage vehicles

Car dealers are cashing in on high mileage vehicles

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The chip shortage has caused remarkable pricing and profit shifts for new vehicles industry-wide, with some dealerships charging thousands more than MSRP. The pre-owned market – particularly vehicles three years old and under – is notoriously hot right now also, largely due to limited supply and inflated new car pricing. But new data in a […]
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Average transaction price for used cars hits an all-time high

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For the first time, the quarterly used Average Transaction Price (ATP) has reached $25,410 in the US, according to Edmunds data. It’s no surprise to anyone in the auto retail industry that used vehicles are selling for more than ever, but the increase is likely more than any analysts saw coming. Comparatively, ATP for used […]
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