Out With the Old, In With the New

How It’s Goin in New Car World

• Inventory and Sales: October's daily sales rate declined to 48K units, the lowest since February, with a seasonally adjusted annual rate of sales at 15.66M.
• Trends: Light-vehicle sales increased in October by 1.8% to 1.2M units.
• Quarterly Comparison: Sales rose 17% in Q3 and 14% in the first nine months; however, October saw a more modest increase of 5.5%.
• Struggles: Overall growth has slowed since the beginning of the year due to high interest rates, the restart of student loan repayments, and supply chain issues caused by the UAW strike.

Negotiating with Your Rep

• State Your Case: At times, it's necessary to critically assess the vehicles that OEMs are supplying. If your sales data doesn't match the manufacturer's allocations, it may be time to engage in strategic negotiation. Prepare for those discussions by arming yourself with concrete evidence from recent sales performance.

🎧 Listen in to last week’s All Things NEW Cars episode for even more new car sales tactics and strategies! 🎧