Experian analysts say buyers of pre-owned vehicles accounted for 55.15% of all U.S. auto loan originations in the third quarter, a 2.4% year-over-year increase.
All but a few Asian and highline factories reported double-digit gains in U.S. sales last month, priming the industry for a big December and a fifth straight 17 million-unit year.
Kelley Blue Book reports the average cost to buy a new vehicle was $38,393 last month, a 1% year-over-year increase restrained by frantic efforts to move 2019-MY inventory.
Kelley Blue Book has named the Kia Telluride America’s best new model for the 2020-MY. A Honda vehicle won the Best Buy award in five categories, including compact car and SUV.
Equifax analysts say U.S. auto loan and lease originations declined 0.6% and 3.9% year-over-year in the first half of 2019, but balances for new vehicle loans were up 2.6%.
J.D. Power analysts ranked Buick and Porsche highest among mass market and highline brands in its latest study dedicated gauging satisfaction and future loyalty among U.S. car buyers.
The latest report shows U.S. new car dealers are on pace for yet another 17 million-unit year, led by gains at Japanese and Korean factories, increased incentive spending, and fleet sales.
Kelley Blue Book analysts say the average new vehicle transaction climbed to $38,259 in October, a slight decline from the prior month but 2.9% higher than a year ago.
The U.S. division of Chinese electric vehicle manufacturer Zotye Automobile announced it has signed agreements with 100 U.S. dealers in advance of its planned 2021 debut.
U.S. sales of new cars and light trucks fell 12% year-over-year in September, suppressed in part by a Labor Day weekend allotted to August. Few were spared the sting, with all six of America’s and Japan’s biggest factories reporting double-digit declines.
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