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Average transaction price for new car sales increases $139 for a...

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New data released by Cox Automotive's Kelley Blue Book shows the average transaction price, or ATP, for a new vehicle in the US in July was higher than the...

Expect strong new and used car sales in 2022 due to...

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Industry experts are predicting that dealer activity in the new year will be easily sustained courtesy of above-normal consumer demand for vehicles. The effects of inventory shortages have developed a backlog of consumers looking for vehicles, both new and used. Entering the new year, the industry should expect a similar sales climate with prices that […]
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New metrics to brag about in new car business

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Traditionally, a dealership’s new-car business is monitored by monthly sales results. Like the sports teams we passionately cheer for, the success of auto brands has been determined by monthly new vehicle sales “scores.” Industry analysts then pour over volume data to measure and rank the markets “winners and losers.”  Today’s guest suggests that many other […]
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Tynan

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

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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 shoppers...

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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 what’s...

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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 industry...

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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 car...

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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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