Tag

New Vehicle Sales

All articles tagged with #new vehicle sales

automotive-industry1 year ago•2 min saved

"Americans Keep Cars Longer as Average Vehicle Age Hits Record 12.6 Years"

The average age of vehicles in the U.S. has reached a record 12.6 years in 2024, driven by high new vehicle prices, which averaged over $45,000 last month. While new vehicle sales are recovering from pandemic-related shortages, many consumers are opting to keep their older vehicles longer due to cost concerns and the durability of modern cars. This trend benefits auto repair shops as a significant portion of vehicles are now beyond manufacturer warranties.

via WKRC TV Cincinnati|

#automotive-industry #average-price #new-vehicle-sales

business2 years ago•0 min saved

Strong Growth: U.S. New-Vehicle Sales Surge 13% in First Half of 2021

U.S. new-vehicle sales have increased by an estimated 13% in the first half of the year, indicating a positive trend in the automotive industry.

via The Wall Street Journal|

#business #estimated-13percent #first-half-of-the-year

business2 years ago•4 min saved

US Auto Industry Sees Strong Q1 Sales Growth, Led by GM's Electric Vehicles.

New vehicle sales in Q1 2022 rose by 11.7% YoY, but were still down 7.6% from Q1 2019 due to supply chain issues. Inventories have been recovering but remain far below healthy levels, with some models in short supply or out of stock. Automakers have pushed prices into the absurd, with the average transaction price in the industry now nearly $46,000. There is a pent-up demand for 6 million new vehicles, which might put a damper on the hopes for a recession, as consumers with money or borrowing capacity will be desperate enough to buy a long-delayed new vehicle when supply is adequate and when the pricing games stop.

via WOLF STREET|

#business #inventory #new-vehicle-sales