Tag: year
Toyota makes a robust update to profit forecast
The world’s best-selling automakers has now updated their full-year profit expectations after realizing a net profit increase of 50% in the third quarter of their fiscal year. Toyota Motor Corp increased their yearly earnings by 54% on the news – a surprising move as other automakers worldwide continue to fall behind in production. After announcing a Q2 […]
Toyota unseats VW as world’s best-selling automaker
Toyota has regained their position as the best-selling automaker in the world for 2020. Despite obviously challenging circumstances over the past year, Toyota managed to sell 9.5 million units worldwide in 2020, surpassing Volkswagen’s 2020 sales of 9.3 million vehicles. The achievement marks the first time in five years that Toyota has claimed the title of best-selling […]
Four tips for independent dealers to thrive in 2021
According to a recent Cox Automotive Dealer Sentiment survey, independent dealers have had a more challenging time than franchised dealers. On most of the benchmarks, including...
TrueCar predicts 16 million new car sales in 2021
Headed into another year of uncertainty, TrueCar is forecasting a healthy increase over 2020’s suppressed auto sales performance, expecting new light vehicle sales in 2021 to reach 16 million units. That figure represents an overall increase of 10% industry-wide, with retail sales calculated at a 9.6% boost over last year’s results. The positive forecast may come as […]
Stop resolving and start solving – Make New Year’s resolutions...
Well, as 2020 closed out, I think it’s fair to say that not many of us are sad to see it go. It’s been a chaotic and unpredictable time, and even the holidays seem very out of sorts this year due to COVID restrictions, and general concern for the safety and health of those closest to us. […]
The top dealership leadership attributes you will need in 2021
To say that 2020 wasn’t the year everyone expected it to be is an understatement. From the business world to our personal lives, the impact of 2020 has crept into every part of our daily routines. However, this statement is even more true for the automotive industry. The obstacles and hurdles that dealers have had to face […]
Does the retail sales downturn predict the same losses for...
Fox Business reports that “November saw U.S. retail sales fall for the first time in seven months, suggesting consumers are pulling back on spending amid a surging pandemic and expiring federal aid.” Does the 11% decline from October signal a darkened mood from consumers for 2021? And does the downturn in retail sales predict anything for the […]
Subprime lending in COVID-19 proves a surprisingly tough balancing act
2020 has offered many surprises over the year. Between the onset of the pandemic causing such a quick economic contraction all the way to the inevitable rebound the country is experiencing now, it just seems like it’s one thing after the next. No one could have predicted how this year would end up looking but one area that has […]
How dealers can drive community involvement into the holiday season
Having come through one of the most peculiar Thanksgiving holidays in history as the US continues to battle COVID-19 outbreaks, the automotive industry remains surprisingly strong. TrueCar and ALG are forecasting that retail sales through November 2020 will be higher than a year ago by 2.9% when adjusted for selling days – a remarkable feat […]
Lower volume, higher profits the name of the game for...
In yet another twist on a topsy-turvy year, Black Friday car deals are expected to be less aggressive than they have been in previous years. The prediction comes from industry experts who see an ongoing new car inventory shortage, particularly on the most in-demand models, helping manufacturers and dealers hold profits. Through October, Edmunds has […]