Thursday, December 2, 2021
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sales

TrueCar forecasts 36% sales increase for May

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Even though supply chain issues and parts shortages continue to plague the automotive industry, sales seem to be doing quite well. TrueCar has released its May 2021 forecast, which projected the sales of 1,509,221 units. This number is 36% higher than May of 2020 when the global pandemic and shutdowns were in their early stages […]
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Memorial Day

Memorial Day weekend sales forecasted to be hot with a...

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In most years, Memorial Day weekend kicks off the busiest selling season for car dealers, barring a worldwide pandemic of course. As Americans are returning to a relatively normal existence with many restrictions lifting and consumer confidence growing, this Memorial Day weekend is expected to wrap up May in style. Strong sentiment in shoppers has […]
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market

Can you keep customers from feeling ‘ripped off’ in the...

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Post-pandemic car buying is on fire right now. Cox Automotive estimated that April 2021’s used car SAAR was 41.0 million, climbing by a half-million units over March’s figures, indicating that transactions in the used car market are continuing to climb. And without a doubt, car prices are rising to capitalize on the market demand. Compared […]
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dealership

Opportunities for fixed ops to take advantage of vehicle shortages

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Car dealerships are taking a hit with the chip shortage problem, leaving many to wonder how they can still make a profit when the car inventory is dwindling away. The reality is, if your dealership doesn’t shift its focus now, it could dramatically hurt the bottom line. It’s time for fixed ops to take center […]
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Memorial Day

Memorial Day road trip predictions show return to pre-pandemic travel...

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It’s estimated that Americans will be driving this Memorial Day weekend at higher rates than even before the pandemic began. Arrivalist is predicting that 38.5 million Americans will take a road trip this Memorial Day weekend, reflecting a massive rise in road travel of around 46%. At that rate, it will exceed 2019 road trip […]
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Sharp

Sharp to supply infotainment screens for Fisker and why it...

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Their first vehicle, the Fisker Ocean SUV, is still some distance from launching, yet the in-vehicle experience is being elevated. Fisker is partnering with Sharp Corporation to develop class-leading infotainment screens for the Ocean, Project PEAR, and possibly two additional models that have not yet been announced. Sharp Corporation is part of the Hon Hai […]
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days' supply

Record car sales push days’ supply of inventory down further

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New car inventory has been steadily decreasing since December on two main factors: extremely strong buying behaviors by an increasingly confident nation, and a struggle to keep up production volume due to the notorious chip shortage. At the end of May 2021, the days’ supply of new vehicles industry-wide drooped to just 44 days. That’s […]
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Ford

Thousands of F-Series trucks parked along I-71 show just how...

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Driving along I-71 near Sparta, Kentucky, rows upon rows of Ford pickup trucks can be seen in parking lots, in full view. They aren’t ready for shipment to dealers, however, as critical components are missing. It’s just one example – a premonition, really – of how virtually every carmaker is significantly affected by the chip […]
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rental

Rental companies are snatching up pre-owned cars amid supply challenges

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As the coronavirus pandemic drags on, the auto industry continues to be impacted in many ways. There is no doubt manufacturers and dealers have faced many hurdles over the past year, which includes innumerable problems on supply chains. J.D. Power’s Tyson Jominy stated that “every day, there is practically a new supply challenge,” which has […]
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history

How dealers can use vehicle history reports to make the...

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Vehicle history reports (VHR) serve as a window into a car’s past for any potential buyer and for dealerships. The reports can provide a wealth of information, including but not limited to accident, damage and theft histories, title information, and a vehicle’s market value. VIN information is tracked and stored across various national and state […]
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