• Car & Automotive

    Supply Chain Crisis Has New Car Buyers Turning to Backup Options

    Mr. Korum believes a refreshed full lineup from Nissan has helped sales, but a shortage of competitors’ models is drawing even more people to his showroom, he said. Updated  Oct. 14, 2021, 11:39 a.m. ET “It’s not just pickups,” he said. “People that can’t find RAV4s, CR-Vs and Civics are finding the redesigned Rogue and Sentra to be a pleasant surprise. Sales are growing. We could sell a lot more if we could get them.” Edgar Zurita, 43, of Fairfax, Va., veered hard from his initial choice. “We needed lots of space and seriously considered a new Kia Telluride S.U.V.,  

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  • Car & Automotive

    High used-car prices likely to stay for a while

    Used retail days’ supply was estimated at 37 days in September. Normal days’ supply, which Cox estimates using data from its vAuto inventory-tracking software, is 44 days. Wholesale supply ended September at 18 days. A normal wholesale supply is 23 days. Used-vehicle inventory levels have been faring far better than new and in fact have been inching toward normal levels as of late, Smoke said. “New inventory as of mid-September was down 75 percent compared to 2019, with days’ supply down a little less, as the declining sales pace has kept days’ supply at its bottom for the last several  

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  • Car & Automotive

    Wholesale Used Car Prices Rise, Pointing to Higher Inflation

    One of the most closely watched leading indicators of inflation on Wall Street has hit a record high, a sign that upward pressure on prices could last for months to come. The prices that dealers pay for used cars in the wholesale market jumped 5.3 percent from August to September, according to the Manheim Used Vehicle Value Index. It’s up 27.1 percent from last year. Used car prices have soared since the pandemic hit, when production snarls at automakers cut the supply of new vehicles as many Americans left urban centers for the suburbs, pushing up demand for personal vehicles. 

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  • Car & Automotive

    Sheey Auto Stores, DCD Automotive among buyers in 4 dealership acquisitions

    Four dealership groups added stores in the mid-Atlantic, Midwest and New England in four transactions late in the third quarter and early in the fourth quarter. Here’s a look at the deals that involved import and domestic brands. One transaction involved a dealership group ranked on Automotive News‘ top 150 dealership groups based in the U.S. Sheehy grows in VirginiaSheehy Auto Stores of Fairfax, Va., has purchased import- and domestic-brand stores in Fredericksburg, Va., about an hour’s drive south of its headquarters. The Sheehy group, led by President Vince Sheehy, on Sept. 29 bought Ultimate Buick-GMC and Ultimate  

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