Toyota, Honda Rack Up Double-Digit Gains in Q1
Toyota said volume rose 22 percent to 214,894 last month, with the Toyota division up 23 percent and Lexus gaining 17 percent. According to Automotive News, at American Honda, volume rose 15 percent last month at the Honda division, but dropped 12 percent at Acura. Hyundai sales tallied 76,920 last month, up 2 percent. Kia's March sales slipped 2.6 percent to 69,472 vehicles, but the automaker said EV sales surged 151 percent last month while utility vehicle deliveries jumped 9 percent. Nissan said first-quarter sales jumped 7.2 percent with Nissan brand volume up 8.5 percent but Infiniti off 12 percent. Record sales of the Forester, up 105 percent to 21,045, helped Subaru volume rise 15 percent last month, and 6.7 percent for the quarter. Volkswagen said first-quarter sales rose 21 percent to 82,101, with car demand surging 161 percent and light trucks up 6 percent. Audi's streak of six straight quarterly gains, all of them double-digits, ended with first-quarter volume sliding 16 percent. Mazda's U.S. sales increased for the fifth straight month, rising 6.7 percent in March behind a 16 percent rise in car sales and 5.5 percent gain on light truck deliveries. Click here for the full story.
Why Inventory Management Is Ripe for A Shakeup
In the years immediately following the COVID-19 pandemic, auto dealers experienced a significant shift in inventory management, pricing strategies and overall business operational strategy. The unprecedented circumstances led to a period where inventory acquisition was viewed as a “get it however you can” mentality. However, as the market dynamics for supply chains have reverted back to a more pre-pandemic landscape, combined with a still-challenging economy, dealers find themselves facing new challenges, reports Wards. Now more than ever, it’s imperative for auto retailers to return to a pre-pandemic mindset, where they were hungry and searching for the right competitive edge in their approach to inventory management and pricing strategies. The pandemic altered consumer behavior substantially. From remote work setups to reduced travel, the demand for certain vehicle types fluctuated. Auto dealers had to adapt swiftly to these changing preferences. In the past, overpaying at auction might have been overlooked by a forgiving market, but now, any missteps are swiftly punished. As the economy stabilizes, it's essential to reassess these shifts and realign inventories accordingly, leveraging advanced data analytics to gain a competitive edge locally. Click here for the full story.
Educating the Public on the Strengths of Franchised Dealerships — Coulter McMahen | LADA
The Louisiana Automobile Dealers Association (LADA) plays a critical role in the state’s retail automotive environment, working with legislators to preserve the franchise model and help dealers drive success for their businesses. Recently, Coulter McMahen became the association’s new President and CEO, bringing a wealth of experience in the industry to his position as well as a plethora of new solutions to improve the car buying experience. MacMahen joins CBT Now, hosted by Jim Fitzpatrick, to discuss the latest news from LADA. McMahen shared his early exposure to the automotive world in Shreveport, Louisiana, where he worked in various roles at a dealership from a young age. His journey from cleaning cars to practicing commercial litigation and now leading the LADA highlights his deep-rooted connection and commitment to the auto industry. McMahen emphasized the significant economic contributions of the automotive sector in Louisiana, noting that the association represents over 300 new car and big truck dealerships, contributing to substantial job creation and sales tax revenue. This underscores the retail automotive sector’s vital role in the state’s economy. Click here for the full interview.
2025 Porsche Taycan First Drive Review: How Does 938 HP Sound?
When the Porsche Taycan debuted in 2020, it was a revelation. At the time, its closest all-electric rival was the Tesla Model S – the Taycan was also ridiculously quick, but represented a more complete package with sharp handling, trustworthy brakes and more repeatable performance, reports Autoblog. In the time since, the related Audi E-Tron GT and more luxurious alternatives such as the Mercedes EQS, EQE, and Lucid Air have mounted challenges, but none have touched the Taycan in terms of holistic performance. Doing so would likely mean adding an extra digit to the price tag by opting for niche EVs from Rimac or Pininfarina. That certainly doesn't mean Porsche could rest on its laurels though, and for 2025, the Taycan gets a significant refresh, and we're not talking about just a minor styling update. No, the new Taycans are more powerful, have greater range, and are quicker both in a straight line and when recharging, ensuring that its current and future rivals will struggle to keep up. From the outside, the 2025 Porsche Taycan retains its sleek and curvaceous body. Click here for the full review.
Consumers with Low Credit Face Confusion in Auto Financing, Survey Finds
Consumers with lower credit scores want to buy cars, but many don't know exactly how to or whom they can trust, Open Lending found. The automated loan servicer surveyed 1,042 U.S. consumers with credit scores ranging from 580 to 659 in October for its annual Vehicle Accessibility Report. Increased monthly payments, a high cost of living and tightened lending standards strained the pocketbooks of these customers last year. Nevertheless, 63 percent of those surveyed said they plan to purchase or trade in a vehicle in the next two years, reports Automotive News. Another key factor holding consumers with lower credit scores back is confusion with the lending process, Open Lending found. And in the long run, missing out on some of these customers could be costly for lenders, said Matt Roe, Open Lending chief revenue officer. "The automotive industry counts on lower-credit and new-to-credit consumers improving their credit over time," Roe said. "Five or 10 years down the line, fewer prime borrowers will be ready to seek financing for larger vehicle purchases leaving lenders with limited options for portfolio growth." Click here for the full story.
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