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Cox reports that in the auto sector sales of motor vehicles and parts fell in December.
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LMC Automotive and J.D. Power predict U.S. auto retail sales will rise in October as supply chains improve and make more vehicles available to dealerships.
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The U.S. Commerce department reported the uptick of 0.7% in retail sales.
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Black Book issued its estimate days after Cox Automotive Chief Economist Jonathan Smoke said the number of damaged vehicles could reach half a million. With Harvey coming ashore near the Texas-Louisiana border on Wednesday, forecasts remain fluid.
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After a record December capped off a record year for new-vehicle sales, January appears to be enduring a hangover effect, the vehicle information site said. It expects sales to decline 3% from a year ago to 1.13 million units.
Read More →The vehicle information site expects new-vehicle sales to total 1.15 million units in January, a 31.5% decrease from December and a 0.7% decrease from January 2016.
Read More →Automotive consulting firm BW Dealership Advisors announced the hiring of Nick Brunotte as senior operations consultant. He will lead the company's new digital capabilities and help the firm's dealer clients attract and engage car buyers online.
Read More →The retail sales finance company, Security National Automotive Acceptance Company, LLC (SNAAC), will be celebrating 30 years in business later this month, according to a company announcement.
Read More →The largest share of outstanding student loans is held by graduates age 30 to 39, according to the firm. Many of these graduates belong to the millennial generation, which, according to Pew Research, have overtaken Baby Boomers as the nation’s largest living generation.
Read More →The two firms expect January total light-vehicle sales to total 1.1 million units, while the January SAAR is expected to have reached 16.8 million units. LMC Automotive said its sales forecast for 2016 remains at 17.8 million units.
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