ET NOW’s Post

New vehicles are moving steadily this month, but the increased inventory and incentives that are fueling the volume are also eating into dealer profits. Get more detail in a May forecast: https://loom.ly/yxXB3q0 #Maynewvehicleforecast

In the latest industry developments, an uptick in auto sales marks a promising shift as inventories swell and discounts deepen. With a significant surge in available inventory, this Spring season could see a notable increase in consumer purchases, supported by attractive incentives. Take a closer look at the numbers here: #dealerships #carsales  

2024 has proved to be a decent year for the auto industry so far, but incentives are increasing and prices easing slightly, eating into dealers' profits. We've also observed a shift in segment preferences, with Full-Size Pickups seeing their lowest market share since the Obama administration (Q2 2016). #auto #automotiveindustry #consumer https://lnkd.in/gUVUkM4t

🚫 Don't Let Stockouts Slow You Down! 🚫 Tired of lost sales and customer frustration due to out-of-stock tires? Economy Tire has the solution. Our lightning-fast deliveries and reliable inventory can boost your bottom line and open up new revenue opportunities. See the difference in action! Our customers have shared that stocking tires has helped them to: + Keep their shop running smoothly with a consistent supply of tires, so they're never caught off guard. + Turn more browsers into buyers by always having the right tire in stock, and even upgrade their customers to new tire options from a used tire. + Build a loyal customer base that keeps coming back because they know they can rely on you for all their tire needs. Is your business ready to maximize profits by making tire stock a sustainable part of your strategy? We invite you to explore how Economy Tire can be your partner in driving success. Let’s connect and see how we can help your business thrive! #DallasBusiness #DallasTireWholesale #TireWholesale #TireDistributor #CustomerSuccess #SupplyChainExcellence #BusinessGrowth #EconomyTireInc #NewTireSupply

The market is showing signs of uncertainty as the Feds stay indecisive. Forecasting market trends has become more complicated than ever before. Keeping your inventory flowing in a measured calculated way that matches market conditions moment by moment and benchmarked to your sales rate ensures the calculated courage you need to be successful in any market. You can see the latest market trends and insights in this week's Auto Market Review from The Automotive Advisor Team.

When dealers start to whinge it's a sign that we're back to a traditional market. March was like a curate's egg: good in parts, and bad in others. The used market continues to be strong, and dealers are making decent margins. New cars have become very expensive in the last four years, and manufacturers have yet to provide the support needed to make them move. This is causing grit in the system - especially with some brands - and it will be interesting to see how the SMMT market shares pan out for March. I would anticipate this quarter will be one where the manufacturers start to become more realistic with their 'offers', and we'll see some proper discounting from headline prices to start moving new stock. This will be primarily with finance offers providing very attractive monthly payments. Historically when this happens, the used market does less well. However, with the shortage of cars caused by Covid-19, the lack of supply will continue to provide some support to the overall used market. The key will be making sure that retailers exposure to the used market is not in late plate models. Every six months we produce a trends report that looks at the state of the automotive market. Our Spring report will be launched on 18 April, and I'm hosting a webinar to talk through the data and help you understand how to leverage this insight to improve enquiries and sales. Sign up now: https://lnkd.in/e-yEUgnt Have a great April.

Three years ago, tire dealers told us getting inventory to meet consumer demand was a chief concern. Some dealers went so far as to add lines and brands they normally wouldn't sell just because they could get them in stock. Two years ago, the market started to right itself, and improved shipping flooded the market with back-orders. Suddenly, dealers were faced with too much inventory that they had paid too much money to acquire. The flood of value-brands, in particular, complicated volumes heading into last year. Last year, the market definitely settled. While tire imports to the U.S. gained 18% in value in 2021 over 2020, and 54% in 2022 over 2021, that metric fell 4.8% in 2023, to $18.7 billion.

How a national dealer group can add 10% revenue in 5 seconds... Comparing two of the highest inventory makes across the borders of the USA and Canada, we can immediately see differences between their new vehicle prices (even after CAD -> USD conversion). The USA Market looks to be willing to pay higher for the higher end of each manufacturer's lineup, while the Canadian market leans closer to the bottom anchored MSRPs with less deviation. Realigning your dealership locations to properly match the country's market is a quick way to ensure you aren't leaving money on the table. Study details: - Our data session from 2024/10/28 - 7,004,737 Unique VINs - 21,484,153 Unique North American Retail Listings - 399,189 USA Ford Listings | 278,079 USA Chevrolet Listings - 52,352 Canadian Ford Listings | 27,795 Canadian Chevrolet Listings - IQR Filtering to remove outliers

Not all reduced prices are created equal. For an OEM to understand the competitive pricing dynamics in today's market, they need a real-time view. https://hubs.ly/Q02C_hqD0

The latest Cox Automotive forecast reveals that the U.S. new-vehicle sales market is still going strong, despite April's sales volume dipping slightly compared to last year. With inventory levels up and incentives on the rise, the industry is poised for steady growth (at the right price point). As we navigate through market fluctuations, it's critical to stay attuned to consumer behavior and economic trends. Stay informed with the latest #AutomotiveIndustry #NewVehicleSales #MarketInsights from Cox Automotive Inc. 🚘