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Conditions still a long way from prepandemic, and greater economic forces could dampen demand.
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Annual census shows the number of stores increased 0.4% last year.
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Cox Automotive forecasts sales will increase nearly 4% from 2022 and from January 2023.
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The Detroit automaker sold 1.86 million vehicles in 2022, down from 1.91 million in 2021.
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Sales of new automobiles plunged to under 14 million vehicles in 2022, the lowest since 2011, reports Kelley Blue Book.
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Industry analysts predict U.S. auto retail sales will dip in January as manufacturing slows.
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The digitization of the auto retail and finance industry has helped level the playing field for dealers who are willing to invest in new tools — no matter your size or location.
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IHS Markit finds the average age of a car on U.S. roads rose to 12.1 years in 2021, up from 11.9 years in 2020. In comparison, the average age was 9.6 years in 2002.
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U.S. new vehicle retail sales are expected to drop 888,900 units in September, from 1,182,788 a year ago.
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