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Rising incentives, inventory propel May sales; Recovery leads to more generous showroom deals
Automotive News, 2023-06, Vol.97 (7093), p.3
COPYRIGHT 2023 Crain Communications, Inc. ;Copyright 2023 Crain Communications Inc. All Rights Reserved. ;ISSN: 0005-1551 ;EISSN: 1557-7686
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Title:
Rising incentives, inventory propel May sales; Recovery leads to more generous showroom deals
Author:
Martinez, Michael
;
Phillips, David
Subjects:
Automobile dealers
;
Automobile industry
;
Automobile sales
;
Automobiles
;
Contract negotiations
;
Discounts
;
Incentives
;
Industry forecasts
;
Industry sales and revenue
;
Interest rates
;
Inventory
;
Labor relations
;
Leasing
;
Retail sales
;
Showrooms
;
Vehicles
Is Part Of:
Automotive News, 2023-06, Vol.97 (7093), p.3
Description:
Leasing discounts J.D. Power and LMC Automotive said discounts on leased vehicles have risen significantly in recent months, with leasing expected to account for 21 percent of retail sales in May, up significantly from a low of 16 percent in September 2022. The Honda brand ended May with 34,000 vehicles on the ground, up from 12,000 a year earlier, while Acura had about 21,000 vehicles in stock, up from 4,000 at the start of June 2022. Jeff Schuster, executive vice president and automotive group head at GlobalData, said wild cards that could affect sales include a potential UAW strike during contract negotiations this fall and the possibility of recession.
Publisher:
Detroit: Crain Communications, Inc
Language:
English
Identifier:
ISSN: 0005-1551
EISSN: 1557-7686
Source:
ProQuest Central
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