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New Car Prices Come in Flat

Wednesday, 04 October 2017 00:32

The estimated average transaction price for light vehicles in the U.S. was $34,861 in September, according to Kelley Blue Book.
New-car prices increased by $144 (up 0.4 percent) from September 2016, while remaining flat from August.
Incentives are still rising and averaging nearly 11 percent of transaction prices.
General Motors is the only major manufacturer declining year-over-year, down 3 percent. The only brand to see increases for General Motors was Buick.

Nissan, Infiniti Inventory Opens to Independents

Tuesday, 03 October 2017 00:27

RMS Automotive and Manheim are offering a new co-listing capability to give independent dealers access to all open sale vehicles listed on RPM, the Nissan and Infiniti digital sales platform powered by RMS Automotive.
The open sale inventory on RPM will be simultaneously co-listed on Manheim.com and OVE.
By clicking on a co-listed vehicle, Manheim and RMS Automotive use sign-on authentication to direct dealers to Nissan and Infiniti’s private label website where they can evaluate, bid, buy and make offers. Facilitations of this pre-lane inventory are handled by the Manheim digital marketplace and are offered with a sliding scale buy-fee based on vehicle price.
Nissan and Infiniti have conducted closed franchise sales and grounding returns on the RPM technology platform with RMS Automotive since May 2016.

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Incentives Reach All-Time High

Monday, 02 October 2017 00:12

Incentives have reached all-time highs as manufacturers continue with aggressive discounting to clear out record inventories of prior model year vehicles. 
J.D. Power and LMC Automotive report that average incentive spending per unit to date in September has set a new record at $4,050, surpassing the previous high of $4,024 in November 2016. 
Spending on trucks and SUVs is $4,044, up $206 from last year. Spending on cars is $4,062, down $38.
Incentives as a percentage of MSRP are at 11.1 percent so far in September, exceeding the 10 percent level for 14th time in the past 15 months.

Used Car Sales Slow as New Car SAAR Hits High

Thursday, 28 September 2017 17:40

Used car sales are expected to drop in September while new-car SAAR reaches its highest point of the year.
Edmunds estimates 3.19 million used vehicles will be sold in September. That is down from 3.33 million used units sold in August.
Edmunds estimates that 1,435,375 new cars and trucks will be sold in the U.S. in September for an estimated seasonally adjusted annual rate (SAAR) of 17.5 million.
This is the highest SAAR so far in 2017. The previous highs were set in January and February, which both had a SAAR of 17.3 million.
Edmunds estimates that retail SAAR will come in at 15 million vehicles in September, with fleet transactions accounting for 14 percent of total sales.