FROM AUTOMOTIVE NEWS: Market Slide Continues in June; Ford Gain Signals Rebound Underway
A 25% decrease in U.S. auto sales has been recorded for Q2, with a forecasted annual rate of sales to fall between 13 and 13.8 million – a slight improvement from May’s results. Ford outperformed the market this quarter, closing June with a 51 day supply, while GM outsold Toyota and reclaimed its top spot.
FROM WARDS AUTO: Dealers Unlikely to Feel Recession
Auto dealers might not feel the consequences of an economic recession until 12 to 18 months in, according to analysts. New-vehicle sales may still decline due to the rise in cost of necessities, but the market remains more resilient than in previous years.
FROM KELLEY BLUE BOOK: Is the End of the Chip Shortage in Sight?
Chip manufacturing has started to catch up as a result of the global decline in consumer spending, but this does not imply vehicle costs are about to fall. To avoid heavy markdowns and oversupply, many automakers plan to maintain low inventories.
FROM CBT NEWS: Used Car Stocking Strategies That Will Align Your Active Leads With Inventory Management
In the current economic slowdown, consumers are likely to be segment-loyal rather than brand-loyal, therefore, dealers should stock products in accordance with market segments and price points to meet demand. Jasen Rice explains how car ratios are directly related to dealer profitability.
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