Are dealers’ good times coming to an end? Dealers fear the optimal economic conditions that propelled them to three straight years of robust profits are further eroding. And though demand for both new
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For Groves, it seems that a metaphorical switch was flipped at the end of 2022, particularly in October and November. “When you watch new-car lots — mine, anybody else’s — start to pick
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And worries about the economy and the possibility of recession are growing. Dealers in particular fret that persistently high vehicle prices and spiking interest rates are putting a dent in consumer demand. The
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What might seem like a good deal now could turn into a headache later © Provided by Consumer Reports By Devin Pratt It is a tough used-car market, making it difficult to find
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If it feels like it used to be easier to find used cars that were both affordable and appealing, that’s because it was. The average price of a used car soared beyond $30,000
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Van Tuyl pointed to Florida, Georgia and the Carolinas as places of interest. Last year, Van Tuyl bought two California Toyota stores and a pair of Ferrari dealerships in Texas. Van Tuyl, who
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The factory flow of new vehicles appears to be picking back up at last, promising dealers an improved inventory for 2023 and beyond. But used cars and trucks might be a different story.
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Tesla (TSLA) used car prices have crashed $18,000 since their peak six months ago, bringing a new level of affordability to the electric car brand. Most car buyers can’t afford a new car
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Cochran said he had a long-standing relationship with the Sweeney family including Blackann and her father, Doug Sweeney. “There was a contact and kind of a, ‘What are you guys thinking about?’ After
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Joe Caso, longtime owner of Frontier Toyota in Valencia, Calif., sold his dealership to first-time owner Aman Abraham late last year. Abraham’s newly formed Addis Automotive Group in Los Angeles purchased the store
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