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US New Vehicle Sales were Up 20.8% Year Over Year in June
June 2023 US new vehicle sales reached 1,385,862 units, up 20.8% from June 2022 levels when supply chains restricted production. Notably, June 2023 light truck sales (Pickup Trucks and SUVs) were up 22.2% over June…
The Proportion of Consumers Who Financed a Vehicle with a Monthly Payment of $1,000 or More Reached a New High of 17.1% in Q2 2023
In Q2 2023, 17.1% of consumers financed a vehicle with a monthly payment of $1,000 or more. This figure is up from 12.2% one year prior. In Q2 2019, only 4.3% of consumers financed a…
Shift Announces Workforce Reductions and the End of its Investment in Dealer Marketplace
Shift recently announced that it would be reducing its headcount by roughly 34% as part of a plan from the company’s newly named CEO’s plan to review Shift’s strategic alternatives. This is the second round…
EV Sales Soar in Q2 2023
Cox Automotive recently reported that U.S. auto retailers sold a record number of full battery electric vehicles in Q2 2023. In the second quarter, 300,000 new electric vehicles were sold, which was a 48.4% year-over-year…
FordDirect Partners with CarNow
FordDirect recently announced a partnership with CarNow, a dealer retailing system, that will empower Lincoln and Ford dealerships to create more personalized and connected messaging for customers. CarNow’s services allow dealerships to engage with customers…
