ETAuto’s Post

October is really a good month for the Automobile industry as almost all the segments are showing growth month on month and YOY basis. since the inventories are really higher at the dealership it puts a bit of relief for them. But does November go same???? Checkout the Indian Automobile industry vehicle retail data for the month of Oct-24 #automobiles #sales #growth

📈 MARKET INSIGHTS 2024/05/08 📉 ➡ This week in the Canadian used wholesale market saw a -0.27% decline overall. ➡ Cars went down -0.35%, followed by Trucks/SUVs by -0.21%. ➡ Top 2 Increases: Premium Sporty Car (0.06%) & Full-Size Crossover/SUV (0.20%). ➡ Top 2 Decreases: Sub Compact Car at (-1.20%) & Compact Car (-1.08%).

DesRosiers October 2024 Canadian #Auto Sales Like getting a full-sized KitKat in your Halloween candy bag, October sales numbers were definitely a treat! Buoyed by 2 extra selling days in October 2024 compared to the same month last year and some strong fleet activity, sales as estimated by DAC came in at a rollicking 162 thousand units; 8.8% above the October 2023 monthly total. Perhaps of greater note is that October’s total is almost exactly equal to that seen in October 2019, and more than 35 thousand units above October 2022 when the semi-conductor related vehicle shortages were throttling the market. “Strength was fairly broadly seen across the industry with only a couple of the volume players seeing sales declines for the month” commented Andrew King, Managing Partner at DAC. The SAAR for the month came in at a robust 1.98 million – behind the pent-up demand explosion that was January and February, but still the third best total we have seen this year. With only 2 more months left to go, the market remains on track to hit an annual total of 1.8 million for the first time since 2019 #radio #advertising #automotivemarketing #automotive #carsales

Almost 8 Lakh Unsold Cars Worth Rs 79,000 Crore – Dealer Inventory All Time High Multiple reasons such as increased car prices, inflation and preference for newer models could be responsible for the high inventory In a worrying development, reports indicate that car dealers have inventory of 80-85 days. This is an all-time high number and impacts dealers of most car brands. Even the festive season seems to have failed to bring any major respite from the high inventory.

The Federation of Automobile Dealers Associations’s (FADA) vehicle retail data for August 2024 shows a modest 2.88 percent Year-on-Year (YoY) growth but a decline of 7.01 percent Month-on-Month (MoM). Total sales of 1,891,499 units were reported in August 2024 compared to 1,838,501 units reported in August 2023. https://lnkd.in/drTE_E7u #FADA #VehicleRetailData #FederationofAutomobileDealersAssociation #PassengerVehicles #CommercialVehicles #AutomobileSales

As a dealership owner, how confident are you in this festive season? In our opinion depending on festivities only for profitability is a recipe for disaster! What do you think dealerships can do ? https://lnkd.in/dv8cZpDp

In June 2023, the typical cost for a new car purchased stood at $46,229; however, by June 2024, this figure had fallen to $44,857, marking a 3% decrease. This shift is anticipated to stimulate a surge in new vehicle purchases this month, with consumers predicted to spend nearly $44.6 billion on automobiles. The decrease in prices can be attributed partly to the increasing availability of inventory. #cayadservices #usa #newcar

🚗 Passenger Vehicle Sales 𝗗𝗲𝗰𝗹𝗶𝗻𝗲 𝗶𝗻 𝗔𝘂𝗴𝘂𝘀𝘁! 📉 Sales dropped by 𝟮% to 3.5 lakh units, marking a continued trend in the automotive sector. This decline 𝗿𝗮𝗶𝘀𝗲𝘀 𝗰𝗼𝗻𝗰𝗲𝗿𝗻𝘀 about market demand and consumer sentiment. As we approach the festive season, manufacturers are 𝗿𝗮𝗺𝗽𝗶𝗻𝗴 𝘂𝗽 production 𝘁𝗼 𝗮𝘃𝗼𝗶𝗱 supply shortages. This could present buying opportunities for consumers, while investors should 𝗸𝗲𝗲𝗽 𝗮𝗻 𝗲𝘆𝗲 𝗼𝗻 how companies adapt to these challenges. Stay tuned for 𝗶𝗻𝘀𝗶𝗴𝗵𝘁𝘀 on market trends and potential recovery as we head into the 𝗳𝗲𝘀𝘁𝗶𝘃𝗲 𝘀𝗲𝗮𝘀𝗼𝗻! 🎉 Tejas Agarwal #PassengerVehicles #AutoSales #MarketTrends #FestiveSeason #truwealthclub

*** $400 Billion by 2025 *** The auto care industry is booming. According to the 2023 Cox Automotive Vehicle Service Industry Study, the U.S. is approaching pre-pandemic levels of service visits, and consumers are expected to spend more than $400 billion on auto care by 2025. Dealers continue to be the top choice for service, but the Cox Automotive Study reveals a significant change from previous years: Consumer trust in dealer service departments is on the decline. General repair/service stations, body shops, and quick lube and retail chains are creating intense competition within the industry. https://lnkd.in/gvrDqqbK