• Car & Automotive

    More Used Cars for Sale, but Prices Still Rising

    After a year of shrinking inventory, America’s used car dealers ended September with more cars for sale than they had at the end of August. But prices continued to rise. According to Cox Automotive, there were approximately 2.3 million used cars for sale at the end of September. That compares to 2.27 million at the end of August. Cox Automotive is the parent company of Kelley Blue Book. Average Price Approaching $27,000 Despite inventory starting to recover, prices continued their rise. The average used vehicle list price at the end of September was $26,646. That’s 25% higher than just one  

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  • Car & Automotive

    Here’s why many people are shopping for cars online

    Car buying has long been a process many Americans hate. Increasingly, dealers and companies are trying to find ways to leverage the appeal of online shopping to make it less painful. Historically, buyers who wanted a car had to take a trip to the local dealership, where they might select a vehicle off the lot. The buying process has a reputation for taking hours and being stressful. One of the biggest pain points is the process of negotiating, which many buyers feel underprepared for. As online shopping continues to grow, businesses are experimenting with alternatives to this process. Traditional automotive  

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  • Car & Automotive

    Selling Cars in the Era of the Chip Shortage: Online Chats and No More Haggling

    The global chip shortage has slashed vehicle inventories and left dealers with few cars to sell. It has also left car salesmen and women with less to do on the dealership lot. Dealerships laid off thousands of salespeople at the start of the pandemic. While some have been rehired, about 70,000 people who worked at new-car dealerships have been permanently let go. For those who remain, the job has been transformed both by pandemic restrictions and an accelerated shift to online buying. Salespeople who once spent days prowling dealership lots offering test drives now wrangle online leads and explain the  

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  • 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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