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About one in seven driving Americans may likely purchase an electric vehicle as their next car, according to an AAA poll, meaning that as many as 30 million Americans may pony up for an electric car within the next three to five years. While some of the motivation is environmental, survey recipients say that lower maintenance expenses and solo access to high-occupancy-vehicle lanes are also among the factors behind potentially going electric. The poll indicates that about as many people are planning to buy an electric vehicle for their next car as are looking to buy a pickup, which...
If you think the last time you visited a dealership the dealers seemed more worried or even pushier than before, you might be right. They have a good reason by the way, simply because a new analysis revealed that the selling process of a vehicle now takes longer. That's despite them substantially ramping up incentives meant to sweeten their offer. While the industry retail sales pace remains high, it is being powered by elevated levels of incentive spending which pose a serious threat to the long-term health of the industry. The latest numbers from showrooms are not pretty. Thro...
New York’s attorney general has reached legal settlements with 104 dealerships it identified as having sold vehicles without disclosing open safety recalls. As part of the settlement, reached on Friday with New York Attorney General Eric Schneiderman, those dealers must now notify customers two days before a sale of an unrepaired vehicle that no repair has been completed. Franchise dealerships are also required to provide loaner vehicles to customers if repairs to their recalled vehicles take more than one day to complete. The settlement comes following an investigation by the...
Audi of America reported a March sales increase of 2 percent to 18,705 vehicles, as the Q5, Q3 and A4 led the volume gains. March 2017 marked the 75th consecutive month of record sales for Audi of America. The previous March record was set last year with 18,392 vehicles sold. SUV sales remained strong with the volume-leading Q5 posting sales of 4,382 vehicles, an increase of 18 percent for the month. Sales of the Q3 rose 21 percent over last year to 1,818 vehicles. The Q7 posted 2,660 sales for the month. The A3 Sportback e-tron had its second-best sales month ever with 414 vehicles...
Even though U.S. is not in a recession that’s exactly what dealerships are doing nowadays. As a percentage of a dealership's total gross, profits fell in the new- and used-vehicle departments, but rose in service and parts. The profit gains come after about a third of all U.S. light-vehicle dealerships expanded their service departments by at least one bay in the past 18 months to capture more service revenue. And with new- and used-vehicle price competition remaining intense. Going into a sales plateauing year, customer loyalty is going to be very key for dealers. That lo...
