This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
The Canadian automotivemarket has grappled with a significant lack of new vehicle inventory since early 2021. While these shortages have largely eased and inventory levels are beginning to normalize, the full story is more nuanced.
If the trends in built-to-order vehicles are any indication, Canadians are willing to wait for the vehicles they want. Amid the semiconductor shortage of 2021-23, a significant trend emerged in the Canadian automotivemarket: build-to-order (BTO) vehicle purchases.
Market Growth and Consumer Adoption The OTT market, valued at $121.61 billion in 2021, is projected to reach over $1 trillion by 2027, growing at a CAGR of 29.4%. This widespread adoption presents a fertile ground for advertisers, especially in the automotive sector, where precision and timing are crucial.
Cox’s new study, “Under the Hood: Opportunities and Challenges in the Service Industry,” found that while franchised dealerships are still vehicle owners’ top choice among service providers, their lead over service chains such as quick lube locations and service centers is shrinking. in 2021 but down from 2.8
We just want to make sure that our members are in a position to service the vehicles that enter their facilities. Environmental Protection Agency (EPA) recently finalized rules that will dramatically increase the proportion of vehicles on the road that are EVs. Technically, they are correct. It has also spent $78.4
“The growth seen in 2023 is remarkable, especially considering the ongoing geopolitical tensions between China and the USA; the instability generated by conflicts across Europe; the high interest rates that persisted in most of the Western world; and the high price of vehicles,” Felipe Munoz, senior analyst at JATO Dynamics, said.
That includes a “normal seasonal trend” when it comes to depreciation in the wholesale vehiclemarket, along with “modest growth trajectory” in the new-car segment, Black Book said in a report Monday. Furthermore, the composition of available inventory in the used vehiclemarket is forecasted to shift.”
We just want to make sure that our members are in a position to service the vehicles that enter their facilities. Environmental Protection Agency (EPA) recently finalized rules that will dramatically increase the proportion of vehicles on the road that are EVs. Technically, they are correct. It has also spent $78.4
The Cox Automotive Dealer Sentiment Index for the fourth quarter of 2023 showed a sharp drop from Q3, which Cox analysts attributed to the ongoing adverse effects of high interest rates and a weakening economy on the automotivemarket, the two factors cited most by dealers as holding back their business.
In the face of uncertainty in the automotivemarket, the American economy in general and the nation’s political future, the outlook of car dealers remains remarkably steady, according to the latest Cox Automotive Dealer Sentiment Index. Overall, dealer sentiment is likely worse than actual market conditions,” Smoke said.
Running throughout the five themes is a welcome return to normalcy after four years of everything but normal, with nothing in the data suggesting surges in any direction, as the industry witnessed in 2021 and 2022. ” For 2024, the Cox Automotive Economic and Industry Insights team sees the U.S. market, is expected to weaken.
Since 2005, Omnique has focused more on the “buy here, pay here” business, taking vehicles in from trades and getting them ready for resale. He says they have been in the automotivemarket for nearly 10 years. Digital Vehicle Inspections (DVI) One of the biggest things Cavan says they look at is the DVI attachment rate.
Courtesy of the internet, smartphones and other technologies, consumers know more about vehicles and how to acquire them than ever. Consumer Insights Report from CarGurus reinforced this market condition. Six primary findings from the sixth annual U.S. Here are the six survey findings that prompted CarGurus to make those assertions.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content