This week’s auto advancement countdown: vital auto and parts manufacturing, climbing used trade-in values, diminishing car demand, and firsthand dealer accounts.
FROM REUTERS: U.S. Manufacturing Output Rises Strongly in July, but Still Below Pre-Pandemic Levels
A 28.3% July increase in motor vehicle and parts production has played a major role in boosting national output. Thanks to these month over month increases, recent U.S. manufacturing continues to trail pre-pandemic levels by only 8%.
FROM JUST-AUTO: U.S. Used Car Prices and Trade-In Prices Spike
Analysts are keeping an eye on the demand-driven rise of both used vehicle trade-in values and listing prices. The average trade-in in July cost just over $14,000, a 16.4% increase, while prices exceeded $21,000.
FROM WARDSAUTO: Will the Reminisce Soon Be: ‘I Remember My First CUV?
Domestic manufacturers aren’t shy about prioritizing SUV, CUV, and pickup models after nearly 11.4 million were sold in 2019. While shoppers would never count out cars entirely, steady light truck sales throughout the COVID pandemic support this growing trend.
FROM THE WASHINGTON POST: No Handshakes. A Bad Economy. These Car Salesmen Shifted Tactics — and Succeeded.
In an intimate look at daily dealership operations, salesmen share how they’ve adapted their highly-personal business models to accommodate hesitant shoppers and nation-wide changes. Now, some say they’re through with the old ways of selling.