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Reduced incentives dampen new vehicle sales in July

July’s projected 2.9% decline in new light vehicle sales to 16.6 million units at a seasonally adjusted annualized rate (SAAR) is fueled largely by automakers’ decline in incentive spending, said Oliver Strauss, chief economist at ALG, noting that the SAAR has fluctuated more in 2019 than in previous years. In fact, automakers’ average incentive spending […]

Fleet, SUV Sales Buoy November SAAR

November’s seasonally adjusted annual rate of light vehicle sales climbed 1.2% year-over-year, to 17.5 million units, and that benefitted car manufacturers heavy with sport-utility vehicles in their product lineup. “The car-to-SUV ratio, on the monthly sales, were about 70% light trucks, SUVs, van, and pickups, and only 30% cars,” Edmunds Data Strategy Manager Jeremy Acevedo told […]

Costco Auto to Expand Members-Only Incentive Program Next Year

Costco will be expanding Member-Only Incentives, unlike the Holiday Sales Event, Member-Only Incentives are 60 days in length and can be targeted by model and/or region. They can also occur more frequently throughout the year. “We hope to expand sales programs, having multiple OEMs to pinpoint added incentives just for Costco members,” Rick Borg, executive vice president […]

Dealer Simplifies Financing Experience Through JoyDrive

The Harnish Auto Family in Seattle — with four dealerships in its group — was feeling the pressure to offer a better online experience like many peers in the space. “It’s something that nearly every new-car dealership has had pressure to start,” Shannon Harnish-Cook, president of the dealer group told Auto Finance News. “[You receive […]

Off-Lease Volume to Surge, but Remain Manageable, OEMs Say

LAS VEGAS — Off-lease volume is expected to surge and Ally Financial intends to pay close attention to those values, said Jason Alba, the company’s director of remarketing operations, during a panel at Used Car Week on Wednesday. It’s not an unprecedented level of volume, he said, and “we’re well positioned as an industry to absorb this […]

Leader of the Field Wants to Get Stronger

When it comes to used-car sales, Black Horse is the largest independent finance provider for the prime market in the U.K. Yet an area ripe for deeper exploration is the new-vehicle market, currently dominated by the manufacturers’ finance arms. With Black Horse recently becoming the finance provider for Jaguar Land Rover, a prestige brand that’s shaking off its “old man” […]

Auto Sales Climb In July

Year-over-year new-car sales grew 9% in July to 1.4 million units, with Subaru showing a 27% increase, and Chrysler not far behind with a 20% bump in sales. Other automakers saw increases, such as Toyota (up 12%), Nissan (up 11%), and Ford (up 10%). Even General Motors, which announced more than 700,000 vehicle recalls in July alone, posted a […]
  • Larissa Padden
  • August 13, 2014
  • Archives