Subaru of America, Inc. reported 51,659 vehicle sales for September, a 9.4 percent decrease compared with year-ago sales due to low days supply and three fewer selling days.
Year to date, Subaru has sold a record 525,329 vehicles, up 4.4 percent compared with the same period last year despite a tightening market. 
“Due to the rapid sell-down of the last generation Legacy and Outback models, our yearly,
month-over-month sales streak of 93 consecutive months came to an end in September,” said Thomas J. Doll, president and CEO. “We look forward to robust sales in October and are on target to achieve our 700,000-vehicle sales goal for 2019, marking 12 consecutive years of sales growth.”

Kia Motors America announced September sales of 44,619 units, led by the Sorento, Sportage and Optima models. Kia sales are up 2.6-percent compared to the first nine months of 2018 as demand for Telluride – with 5,049 units sold in September – continues to outpace model supply.
“Kia outperformed the industry through the first three quarters of 2019 thanks to the continuing popularity of Telluride and the strong September performances of the Sorento, Sportage and Optima models,” said Bill Peffer, vice president, sales operations, Kia Motors America. “With Kia’s steady stream of new and refreshed models launching over the coming months, we’re confident the positive momentum and increased brand consideration will continue into the new year.”


New Car Loan Rates Dip

October 01, 2019

The average interest rate for a new-vehicle loan fell for the sixth month in a row and stayed under 6 percent for the third consecutive month, according to the car shopping experts at Edmunds. The annual percentage rate (APR) on new financed vehicles averaged 5.7 percent in September, compared to 5.8 percent a year ago.

“Automakers are in full sell-down mode, which means that car shoppers got to take advantage of some decent promotional offers in September,” said Jessica Caldwell, Edmunds’ executive director of industry analysis. “The cost of purchasing a new vehicle is still a lot higher than it was a few years ago, so it’s a positive sign that automakers and dealers are making the right moves to keep buyers coming back into the fold.”

Although average interest rates on new-vehicle loans have seen a decline in recent months, Edmunds experts say this drop is driven by incentives and is not indicative of a return to post-recession market conditions.

CarMax, Inc. reported increased sales and net income for the second quarter ended Aug. 31.

During the quarter, net sales and operating revenues increased 9.1 percent, to $5.20 billion; used unit sales in comparable stores increased 3.2 percent; total used unit sales rose 6.2 percent; total wholesale unit sales increased 4.7 percent; CarMax Auto Finance (CAF) income increased 4.1 percent to $114.1 million; and net earnings increased 5.8 percent to $233.6 million.

Net earnings per diluted share increased 12.9 percent, to $1.40.

The company also reported its omni-channel experience remains on track to be available to the majority of customers by the end of fiscal 2020.

AuctionTime.com sold more than $18 million (gross auction proceeds) in construction equipment, agricultural equipment, trucks, and trailers during a two-day online sale in September. More than 6,400 bidders from 48 states and 40 countries participated in the auction, which ran Sept. 25 and 26.

In all, over 2,400 assets were sold. This rounded out a record September for AuctionTime.com, which sold over $75 million in assets for the month and more than 8,300 lots.

Sandhills Global is the tech company behind AuctionTime.com, Auction FlexHiBid.com, and numerous industry tradesites, including MachineryTrader.comTractorHouse.com, and TruckPaper.com. AuctionTime.com has experienced record growth in 2019, in large part to a continual increase in buyer activity across all Sandhills websites.

 

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