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Badger State Dealership Gets New Owner
The longtime southern Wisconsin store moved from one area auto group to another, keeping the business in Dairyland.
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SEARCHMENUSEARCHThe longtime southern Wisconsin store moved from one area auto group to another, keeping the business in Dairyland.
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LMC Automotive expects the semiconductor shortage to cut production in North America by about 452,000 units over the remaining months. The company also expects the chip shortage to impact production by about 1.5 million units.
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Record-breaking buy/sell activity might trim the total number of automotive dealership owners, but it will brighten the future for those left behind.
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Last month we noted that the record run of value increases we have seen over the past 18 months appeared to be slowing down and possibly ending.
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As wholesale prices started to decline in July, the seasonally adjusted Retention Index reversed the trend for the first time this year and decrease to 161.8 points.
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The company will idle plants in Flint, Michigan; Fort Wayne, Indiana; and Silao, Mexico, just one week after the plants resumed production after an earlier shutdown related to the shortage.
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Days-to-turn for used retail listings have been increasing, as retail demand softened over the last few weeks.
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Ford presently offers only five key vehicle models in the country including its flagship EcoSport and Endeavour models, which are now losing share to newer competing products.
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Kerrigan Advisors’ Founder Erin Kerrigan predicts unprecedented buy/sell activity through 2022.
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“We expect inventories to continue to normalize throughout the back half of 2021 and in the first part of 2022,” said Chris Holzshu, Lithia chief operating officer, in an earnings conference call.
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President Joe Biden has proposed a return to aggressive Obama-era vehicle mileage standards over five years.
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