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Since Farley took control of the automaker last October, Ford’s stock has roughly tripled.
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New light-vehicle sales in October 2021 saw their first month-to-month gain since April.
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Combined sales at the seven major automakers that release monthly results dropped 17% in October. Automakers cite the semiconductor chip shortage and supply chain bottlenecks as the reason.
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The seasonally adjusted Retention Index increased to 180.2 points, continuing to hit records.
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The fourth quarter is traditionally when the market experiences most of the yearly depreciation, but after just one month in the quarter, values are reporting appreciation of more than 3.0%.
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Industry analysts suggest it could cost dealers hundreds of thousands annually to comply with the new rules.
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The average price of a new car hit $45,000 in September and reached $25,000 for the average used car, according to Kelley Blue Book.
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High demand amid limited new vehicle inventory has driven up used vehicle prices. But it’s also impacting the rate their values are depreciating.
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Presented by F&I and Showroom magazine and sponsored by Spectrum Automotive Holdings, the annual awards program recognizes dealerships with highly profitable F&I departments.
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Lease credit approvals reached 67.6% in September; Down from 71.3% in August, according to Swapalease.
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