ICYMI: The FTC dropped its Asbury price transparency case. Unifor will vote Oct. 17 and 18 on a Stellantis strike. Ford’s Q3 sales fell 6.6%, but its retail share rose. September’s new-vehicle sales pace hit 16 million. Wholesale used-vehicle prices fell 1.1% in September.
Here’s a closer look at these top stories and more headlines to stay on top of this week’s automotive industry news.
FTC dismisses Asbury price transparency complaint after 2-year legal fight
The Federal Trade Commission (FTC) dismissed its administrative complaint against Asbury Automotive Group and three Texas dealerships Oct. 5, ending a case that sat stalled for more than two years while Asbury challenged the agency in federal court. The FTC said it remains committed to pursuing price transparency for auto dealers in the appropriate forum. Read More
Unifor sets strike vote at Stellantis Canada
Unifor has called a strike authorization vote for Stellantis workers in Canada, the union told members in a letter Tuesday. Members will vote Oct. 17 and 18, with results expected Oct. 19. Read More
Ford gains retail share as F-Series, hybrids, SUVs drive Q3 results
On October 2, Ford released its third-quarter sales report, illustrating that total vehicle sales fell by 6.6% after the automaker phased out its Escape and Lincoln Corsair crossover models. In the quarter, Ford sold 509,764 vehicles and 1.52 million through September. Read More
New-vehicle sales pace reaches 16 million as hybrids gain ground
According to the latest NADA Market Beat, new light-vehicle sales reached a seasonally adjusted annual rate (SAAR) of 16 million units in September, 3.6% below the year-earlier level. For the first nine months of the year, the SAAR averaged 16.1 million units, down 1.9% from the same period last year. Read More
Wholesale used-vehicle prices fall in September as high fuel costs shift demand
Wholesale used-vehicle prices fell more than normal in September, and Cox Automotive lowered its full-year outlook as a result. The Manheim Used Vehicle Value Index dropped to 205.9, according to Cox Automotive. Read More
Next Week: Exclusive Interviews You Can’t Miss
How image compliance can reshape dealership valuations
Facility image compliance has become one of the most critical variables in automotive buy-sell negotiations, directly influencing purchase price allocations, return-on-investment timelines and dealer succession plans. On the next episode of Inside M&A, Dave Cantin, Founder and CEO of the Dave Cantin Group, and Julie O’Dwyer, Director of Client and OEM Relations at Goree Architects, discuss how brand image standards impact dealership valuations.
Next week on CBT Live!
Join CBT News Co-Founders Bridget and Jim Fitzpatrick live at noon Eastern each weekday for the latest automotive news headlines and exclusive interviews with dealers and industry insiders. Monday’s guests include Marsh Buice, General Sales Manager at Mark Dodge Chrysler Jeep Ram in Lake Charles, Louisiana. Plus Matt Easton, sales coach and founder of Easton University Sales Coaching.
