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The U.S. marketplace gets new opportunities thanks to the wave of off-lease vehicles which is expected to hit the used market in 2018. Analysts who track U.S. retail auto sales and lease penetration rates say that the vast majority of leases that originated in 2015 will end in 2018 and include notably more crossovers, SUVs and high-end models. By most counts, 3.9 million light vehicles are expected to come off leases in 2018, roughly 300,000 more than in 2017. The used-vehicle market already has more late-model, lower-mileage units — and fewer of the 5- to 8-year-old models th...
U.S. retail sales unexpectedly rose in October as an increase in purchases of motor vehicles and a range of other goods offset a decline in demand for building materials, suggesting consumer spending remained fairly strong early in the fourth quarter. Retail sales increased 0.2 percent last month. Data for September was revised to show sales jumping 1.9 percent rather than the previously reported 1.6 percent advance. Retail sales increased 4.6 percent on an annual basis. Economists forecast that retail sales would be unchanged in November. The slowdown from September's robust pa...
Even though the shares of US car retailers rose this September, analysts predict that longer-term concerns over the threat of eccomerce and weak demand in the sector remain. O’Reilly Automotive rose on Monday, up 2.7 per cent to $215.15. It outperformed the broad S&P 500 index which weakened 0.2 per cent to 2,496. The Dow Jones Industrial Average also traded down 0.2 per cent at 22,296 on Monday in New York, while the Nasdaq Composite shed 0.9 per cent to 6,370. Genuine Parts, which distributes replacement car parts, saw the biggest gains of any stock in the S&P 500 on Monday, ri...
Revenues at car repairs and auto-parts stores are rising despite the slump in the U.S. auto sales this year. But why is there such a bid difference between these 3, when they are basically bounded to each other? Well, old vehicles are grinding out more miles, and need replacement parts and repairs almost each month. The vehicle fleet is still getting older every single year, in spite of our record sales, So you’ve got a significantly larger population of vehicles that require service and are coming in for service pretty regularly. Car dealers didn’t use to handle so...
Mini executives want the brand's U.S. dealerships to pursue used-car sales with more vigor. Higher used-car sales would help Mini and its retailers at a time when new-car sales have slumped. So Mini USA launched a program at the beginning of the year that pays dealerships bonuses for hitting used-car sales targets. Each Mini store gets a customized target. If a store hits its target, it will receive additional margin of 1 percentage point of the vehicle's sticker price on each new-car sale. Thomas Felbermair, vice president of Mini Region Americas claims that the used-car bu...
