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Report Uncovers $4.7B Opportunity for Auto Dealers
Solving mismatched payment quotes can boost sales, profits
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SEARCHMENUSEARCHSolving mismatched payment quotes can boost sales, profits
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Sales into large fleets, not including sales into dealer and manufacturer fleets, decreased 4.6% month over month in September to 122,586 units, according to an early estimate from Cox Automotive.
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New light-vehicle sales in September 2022 totaled a SAAR of 13.5 million units, up 9.6% from a year ago.
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Carmaker blames supply-chain issues, inflation for nearly 11% increase.
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The market continued its descent last week, with the level of decline still exceeding what is typically experienced this time of year.
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Sales fall due to customer affordability concerns. Company offering lower-priced models, cutting its costs.
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Tesla plans to increase production of Model Y and Model 3 EVs in Q4 and keep growth going as newer factories in Austin and Berlin come online in 2023.
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The average interest rate paid on a new vehicle purchase hit 5.7% in September, up from about 4% in 2021.
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Cox Automotive's quarterly review allows us to see how the market has progressed compared to expectations.
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ZeroSum predicts that by the end of September, new vehicle inventory will be up 16.69% from the start of August while used vehicle inventory will be down 1.15%.
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September U.S. auto sales, when confirmed next week, are expected to show a new-vehicle market mostly unchanged from previous months and still stuck in low gear.
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