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As the automotive industry accelerates towards hybrid and electricvehicles (EVs), a new challenge has emerged: a significant shortage of qualified hybrid and electricvehicle mechanics to service these advanced vehicles.
Used car prices continue to decline as availability increases and new car prices have stabilized in the Canadian automotivemarket, according to analysis from AutoTrader.
Electricvehicle (EV) sales are continuing to grow, but the once-rapid pace of adoption is beginning to slow as the market reaches a new stage of maturity. last year and set new highs in the percentage of vehicles sold in Canada in 2024, including BEVs making up about 18 per cent of sales in December.
The Canadian automotivemarket is charting a distinct path compared to its southern neighbour, with electricvehicle adoption outpacing the United States and unique trends emerging in consumer preferences and the aftermarket.
The automotive industry is undergoing a generational transformation with the continued use of electricvehicles (EVs). As more consumers embrace the benefits of EVs, the used car market is also seeing an influx of these eco-friendly vehicles. This can result in significant savings to the wallet.
The automotive industry is undergoing a generational transformation with the continued use of electricvehicles (EVs). As more consumers embrace the benefits of EVs, the used car market is also seeing an influx of these eco-friendly vehicles. This can result in significant savings to the wallet.
The electricvehicle (EV) revolution is in full swing, and it has a fascinating global battleground for market dominance. As seen in automotive school , Tesla has long been a household name, and a new wave of Chinese automakers are challenging the status quo. BYD Seagull: The Tesla Killer? Here are a few key takeaways: 1.
As the automotive landscape shifts dramatically towards electrification, two of Japan’s automotive giants, Honda and Nissan, have made headlines with a groundbreaking new deal in automotive training. Under this partnership, both companies will collaborate on core EV components and develop new automotive software platforms.
Last year, the US automotivemarket's sales rebounded fully and registered the best performance since the pandemic – around 15.5 million vehicles, according to Reuters, citing data released by Wards Intelligence and figures from consultant Cox Automotive. Interestingly, everyone expects Toyota to get a signif.
As we look back on Q3, the automotivemarket has revealed key trends that highlight the complexities of inventory management for auto retailers. In Q2, dealers experienced a 10% sales increase for new vehicles despite challenges like the CDK Global cyber incident. Q3 brought a renewed focus on managing inventory.
will begin supplying its Ecsta HS52 tires as original equipment (OE) for Volkswagen Group, for two vehicle models: the Volkswagen Passat and the Škoda Superb, in size 215/60R16. The vehicles will be available in Europe, the Middle East, Africa, Asia and Australia. Kumho Tire U.S.A.
As we review the vehicle inventory, carryover, and markdown trends from the Lotlinx Q4 2024 AutomotiveMarket Report , the automotivemarket has revealed several important insights into the ongoing challenges and opportunities for dealerships and OEMs. The used vehiclemarket also saw growth in hybrid and EV sales.
Rolling resistance, durability and overall comfort all play a huge role in tire design, but these characteristics are under a bright-hot spotlight in the context of electricvehicle tires. The company uses a combination of factors, including tire compound, tread pattern and silencing technologies to optimize EV tire performance.
Access to Cutting-Edge Industry Insights NADA Show provides dealers access to the latest trends in automotive retail, including shifts in consumer behavior, advancements in technology and regulatory updates. This not only attracts environmentally conscious buyers but also positions the dealership as a forward-thinking player in the market.
“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.
The workers, though, still face uncertainty in the face of a shifting automotivemarket. As manufacturers transition to electricvehicles, those workers need to know they won’t be left out in the cold, and those assurances are still forthcoming. The United Auto Workers strike has — tentatively — ended. Read more.
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
Lotlinx ’s Q3 Quarterly Vincensus Report, which offers insights into the current state of the automotive retail market for both new and used vehicles, inventory risk, vehicle sales, consumer preferences and markdown/pricing strategies, is now available. Click here to access the full Q3 Quarterly Vincensus Report.
Brookdale Community College has secured a grant totaling $561,318 from the National Science Foundation to pioneer the ElectricVehicle Education for New Jersey (EVE-NJ) project. As the automotive industry rapidly transitions towards electricvehicles, this grant represents a pivotal investment in preparing the workforce for the future.
John Howard, who is director of product management with Experian Automotive, returned for another visit on the Auto Remarketing Podcast. This episode focused on Experian’s latest look at automotivemarket movements, how much riper that aftermarket “sweet spot” is now and loyalty trends with hybrid and electricvehicles.
Dealership service departments are not only losing market share to general repair shops — they’re also losing the trust of consumers, according to the latest research by Cox Automotive. As a result, they’re bringing their vehicle in for service or maintenance more often: an average of 2.5 times a year, up from 2.3
Cars Commerce’s latest look at the used-vehiclemarket is an old story. As in, older cars have become the dominant force driving supply and vehicle values, according to the company’s monthly Industry Insights Report for August. over August 2023, with the vast majority of that increase coming from vehicles more than 7 years old.
Last week was quite full of surprises across the American automotivemarket. Secondly, Rivian gave us another couple of all-new electric models aside from the confirmed R2 sport utility vehicle. First, Dodge gave us two body styles for the next-gen Charger instead of one.
In the wake of the global pandemic, the automotive industry has been riding through a storm of unprecedented challenges and transformations. As the world gradually emerges from the shadows of COVID-19, a significant shift in the car retail landscape is becoming increasingly apparent, particularly in the electricvehicle sector.
Rolling resistance, durability and overall comfort all play a huge role in tire design, but these characteristics are under a bright-hot spotlight in the context of electricvehicle tires. The company uses a combination of factors, including tire compound, tread pattern and silencing technologies to optimize EV tire performance.
Rolling resistance, durability and overall comfort all play a huge role in tire design, but these characteristics are under a bright-hot spotlight in the context of electricvehicle tires. The company uses a combination of factors, including tire compound, tread pattern and silencing technologies to optimize EV tire performance.
will begin supplying its Ecsta HS52 tires as original equipment (OE) for Volkswagen Group, for two vehicle models: the Volkswagen Passat and the Škoda Superb, in size 215/60R16. The vehicles will be available in Europe, the Middle East, Africa, Asia and Australia. Kumho Tire U.S.A.
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
. “A decade from now, when we look back at the years immediately following the global pandemic of 2020, we’ll be awed by the dramatic swings and unprecedented circumstances the economy and auto market endured,” said Cox Automotive Chief Economist Jonathan Smoke. auto market being steered by five key themes.
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.
Domestic, Asian, and European cars dominate the American automotivemarket. Many people can tell the difference between cars based on the vehicle's exterior look, style, and more. Below, defining factors and critical design aspects are explained, as well as a brief history of the automotive industry from each region.
This level of insight allows dealers to optimize their inventory mix, ensuring they have the right vehicles on their lots at the right time. Its not just about stocking popular models; its about having the perfect balance of vehicles to meet the specific needs and preferences of their local market.
This level of insight allows dealers to optimize their inventory mix, ensuring they have the right vehicles on their lots at the right time. It’s not just about stocking popular models; it’s about having the perfect balance of vehicles to meet the specific needs and preferences of their local market.
Lotlinx announced its Q4 Quarterly Vincensus Report, which offers insights into the current state of the automotive retail market for both new and used vehicles, inventory risk, vehicle sales, consumer preferences and markdown/pricing strategies. Inventory Trends New vehicle day supply climbed to 76 days (+7QoQ, +20 YoY).
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.
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