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Facing a slow start to the year, and with concerns over inflation and the economy, automobile dealer sentiment softened in Q1, marking the third consecutive quarter-over-quarter decline in current market sentiment.
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The combination of vehicle owners needing service more often due to accumulating mileage at pre-pandemic levels along with the disruption of the auto parts supply chain and significant staffing shortages is causing auto dealership service departments to navigate unique capacity challenges.
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With the approach of Spring and warmer weather in many parts of the country, we are beginning to see some changes in the RV market.
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The Ukraine invasion has ramped up the price of metals used in vehicles and OEMs likely will pass these costs on to consumers.
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Experts predict the Russian invasion of Ukraine could slash global production of new cars and trucks by millions of units in 2022.
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Declines in wholesale prices continued last week, despite an improvement in conversion rates.
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Seasonally adjusted Retention Index down to 193.0 points in February of 2022 as questions about the strength of the upcoming Spring market remain.
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Wholesale market declines continued last week, but the pace is starting to slow down.
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Volkswagen and Renault will suspend operations temporarily as Russia’s invasion of Ukraine impacts European supply chains.
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New-vehicle sales volume has been averaging just over 1.05 million each month since last August, and this February is not expected to buck the trend.
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