As inventory levels recover, loyal customers return to their brand of choice after staying out of the market; Toyota, Honda, Lexus lead growth.
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The $1 billion Drive Forward Fund will target suppliers and manufacturers with advisory support from MEMA to bring innovation, fuel growth.
Government announces plan for 100% tariff on EV imports from mainland China and a 25% import tariff on Chinese steel and aluminum.
Drop in new vehicle sales drive dealers' attention to the older all-makes vehicle mix; aftermarket parts providers could increase sales to dealer bays.
The biggest market share year-over-year declines were in the midsize and luxury car segments; vehicle inventory has risen so has OEM incentive spending.
U.S. dealers view the market as weak in Q3, reflecting growing concerns about the political climate, rising costs and economic uncertainty.
Q1 2024, however, was the busiest quarter on record for dealership buy-sells; market remains busy with a sustained appetite for strong franchises in attractive markets.
