Category: Economy

NADA Issues Third Quarter 2021 Auto Sales Analysis

Reduced inventory, while not a limiting factor earlier in the year, has slowed new vehicle sales in recent months.

ATD Truck Beat: Commercial Truck Sales Remain Strong

Demand for commercial vehicles continues to be strong, with industry-wide supply shortages limiting production and sales.

NADA Market Beat: Limited Inventory Drives SAAR of 12.2 Million Units for September Sales

New light-vehicle sales in September 2021 fell for the fifth straight month to a SAAR of 12.2 million units.

NADA Market Beat: New Vehicle Sales Decline Amid Inventory Constraints

New light-vehicle sales in August continued to decline amid still-shrinking inventory on dealer lots. Sales in August totaled a SAAR of 13.1 million units, the lowest level since June 2020’s 13 million.

A Guide to Claiming the Employee Retention Tax Credit

Congress created the Employee Retention Tax Credit (ERTC) in March 2020 to provide financial relief to small businesses during the pandemic. Here are some key facts about the ERTC and how you may benefit from it.

NADA Market Beat: Inventory Continues to Impact New-Vehicle Sales

Despite production limitations from the chip shortage, new-vehicle demand remains strong among both retail and fleet customers. Our total 2021 forecast for new light vehicles is 16.5 million units.

ATD Truck Beat: Commercial Truck Sales Up Across Segments

Sales rose because of solid freight demand, as many sectors of the economy reopened and more consumers returned to their normal routines.

NADA Issues 2021 Second Quarter Auto Sales Analysis

In the second quarter of 2021, sales totaled a 17.0 million unit SAAR, up slightly from the 16.9 million unit SAAR in the first quarter of 2021.

NADA Market Beat: Inventory Constraints Limit New-Car Sales

New light-vehicle sales fell for the second straight month in June.

NADA Market Beat: May Sales Strong; Slight Fall from April’s Highs

New light-vehicle sales remained strong in May but fell slightly from April’s highs.

U.S. President Joe Biden visits Ford Rouge Electric Vehicle Center in Dearborn

Biden Pitches $174 Bln Electric Vehicle Plan in Michigan

“We’re going to set a new pace for electric vehicles,” Biden said. The President spoke to Ford workers and executives in front of a display and map touting the company’s “EV-certified dealer network” consisting of 2,300+ EV-certified dealers nationwide, trained EV sales teams, EV-qualified technicians and certified collision locations.

NADA Market Beat: New Light Vehicle-Sales Top 18 Million Unit SAAR for Second Straight Month

April’s new light-vehicle sales saw an 18.5 million-unit SAAR—the second straight month (following a March revision) of sales above 18.0 million units and the highest monthly sales rate since July 2005 with a 20.6 million SAAR.

ATD Truck Beat: Truck Sales Analysis for Q1

Commercial truck sales started the year off well, with total sales of 98,404—an increase of 15.8% from first quarter 2020.

NADA Issues Analysis of 2021 First Quarter Auto Sales

The economy continues to show strong signs of recovery from the coronavirus pandemic. The widespread dissemination of the COVID-19 vaccine and the stellar new light-vehicle sales in March are reasons to be optimistic for the remainder of 2021.

NADA Market Beat: March New Light-Vehicle Auto Sales Incredibly Strong

New light-vehicle sales in March 2021 were stellar. March’s SAAR of 17.75 million units is the second highest of all time for the month and just shy of March 2000.

NADA Market Beat: New Light-Vehicle Sales Fall Slightly in February

Despite the chip shortage headwinds, we are very optimistic about new-vehicle sales in 2021. We expect continued steady retail demand and improving fleet demand growth throughout the rest of the year.

NADA Market Beat: Light-Vehicle Sales Start Strong in January 2021

New light-vehicle sales in January started off the year at a strong pace. While the January 2021 SAAR of 16.63 million represents a decline of 1.4% from January 2020, it was the highest monthly SAAR since the start of the pandemic.

ATD Truck Beat: 2020 Analysis and 2021 Sales Forecast

Commercial truck sales closed out 2020 with total sales just shy of 410,000 units, a decline of 22.3% from the 2019 total.

NADA Issues Analysis of 2020 Auto Sales, 2021 Sales Forecast

2020 came to a close with new-light vehicle sales of 14.46 million units, down 14.7% compared to 2019.

NADA Market Beat: 2020 Light-Vehicle Sales Reach 14.46 Million Units

The year came to close with new light-vehicle sales of 14.46 million units, down 14.7% from 2019 and the lowest full-year sales total since 2012.

NADA Market Beat: New-Vehicle Sales Down Slightly Compared to Previous Two Months

For 2020, we expect that new light-vehicle sales will total 14.2 million units. There may be some regional ups and downs in sales as the country deals with spikes in COVID-19 cases throughout the winter months.

NADA Market Beat: New-Vehicle Sales Top 16 Million Unit SAAR for Second Straight Month

The new light-vehicle sales volume in October equated to a SAAR of 16.2 million units, the second straight month with a SAAR above 16 million units.

ATD Truck Beat: Heavy-Duty Truck Sales Continue to Improve

Look for commercial truck sales to continue improving the rest of the year and into 2021.

NADA Issues Analysis of Third Quarter 2020 Auto Sales

“Given the better than expected recovery in the new light-vehicle market, we estimate 2020 new light-vehicle sales to be higher, reaching 14.1 million units,” added Manzi.

NADA Market Beat: New Light-Vehicle Sales Up for Fifth Consecutive Month

New light-vehicle sales increased for the fifth straight month in September.

NADA Market Beat: New Light-Vehicle Sales Continue to Recover

August’s SAAR of 15.2 million units marked a 4.8% increase from July’s SAAR of 14.5 million units but is down 11% compared with August 2019.

NADA Market Beat: July Vehicle Sales Improve for Third Consecutive Month

The July SAAR totaled 14.5 million units, a decline of 14.4% compared with July 2019 but up from the SAAR of 13.1 million units for June 2020.

Protect Jobs and Speed Economic Recovery by Suspending the FET

As Congress considers the next phases of virus-related economic recovery legislation, it should include suspension of the FET on new trucks and trailers until the end of 2021.

ATD Truck Beat: Commercial Truck Sales Down 29.2% During First Half of 2020

As with most industries, truck sales the rest of the year will be dependent on the ability to control the spread of COVID-19.

NADA Issues Second Quarter 2020 Auto Sales Analysis

During this quarter, retail sales recovered much more quickly than fleet sales from the effects of the COVID-19 pandemic.

Dealerships Jobs Starting Climb Back From April Lows

New data out of the Bureau of Labor Statistics (BLS) shows that franchised dealerships added 80,200 jobs in May, an extremely encouraging sign for employment in U.S. automotive retail.

NADA Market Beat: June Vehicle Sales Increased to 13 Million SAAR

New light-vehicle sales in June improved compared to May but remain down significantly compared to this time last year.

The Fleet Versus Retail Disconnect in May’s Sales Numbers

Fleet sales were down year-over-year by a whopping 72% in May, while retail sales only fell by 17%.

NADA Market Beat: May Sales Show Signs of Recovery

New light-vehicle sales showed signs of recovery in May, with a SAAR of 12.21 million units.

Accelerating Auto Trends in the Time of COVID-19

People are now more reliant on personally owned vehicles and here’s the key fact: 20% of people in the United States who do not currently own a vehicle, are now considering purchasing one.

NADA Market Beat: April 2020 SAAR Falls to 8.6 Million Units

The April SAAR represents a drop of 47.6% compared to April 2019. Yet many industry watchers believe auto sales have bottomed out and are showing signs of recovery.

NADA Chairman Praises Dealership Support of Local Communities During COVID-19

“It’s times like these that remind us what really matters most: our families at home, the people we see every day at work, our neighbors and our communities–the people who rely on us year after year to be there for them.”

NADA Issues First Quarter 2020 Analysis of Auto Sales

As the first quarter of 2020 has come to a close, the National Automobile Dealers Association (NADA) issued an analysis of U.S. auto sales and the economy, including the initial impact of the COVID-19 pandemic on both.

Local Dealerships Are Supporting Their Communities During Pandemic

Even as they are operating in a challenging environment where customers and employees are staying home and the rules of operation change every day, auto dealers across the country are pitching in and doing their best to help their communities weather the pandemic.

NADA Market Beat: Light Vehicle Sales Down 34.1% in March Due to COVID-19

The SAAR of 11.4 million for March 2020 represents a decline of 34.1% compared to March 2019 and is the lowest monthly SAAR since April 2010.

U.S. Chamber Issues Summary of New SBA Loan Programs

The CARES Act provides $2 trillion of stimulus to individuals, businesses, and hospitals and other impacted industries in response to the economic distress caused by the pandemic.

U.S. Weekly Jobless Claims Surge to Record 3.28 Million

Initial claims for unemployment benefits rose 3.00 million to a seasonally adjusted 3.28 million in the week ending March 21, eclipsing the previous record of 695,000 set in 1982, the Labor Department said.

Vehicles are Critical in a Lockdown

As Congress is poised to pass a historic $2 trillion stimulus package to address the impact of the escalating COVID-19 health crisis, America’s auto dealerships continue to work through the challenges of operating during the coronavirus pandemic.

Dealer Groups, ATD, Alliance for Automotive Innovation Urge Trump to Clarify Auto, Truck Sales as Essential

The ability to provide replacement cars and trucks in response to any number of scenarios will be vital to ensuring that those in need of reliable personal transportation continue to have access to it, the groups said, stressing that franchised car and truck dealers recognize the need to conduct even limited sales and leasing activities in manner that protects the general public, our customers and our employees.

Alliance for Automotive Innovation, NADA and MEMA Call on White House and Congress to Pass Economic Stimulus Package to Address COVID-19 Impact

The Alliance, NADA and MEMA have asked Congressional leaders and the White House to enact policies that provide immediate economic relief broadly, as well as to the auto industry, and that help all businesses work through the challenges arising from the coronavirus pandemic.

Auto Dealerships are Stepping Up During COVID-19

From increased sanitizing and cleaning to maintaining social distancing, auto dealerships are doing everything they can to keep their customers, employees and communities safe during the COVID-19 pandemic.

Responding to Coronavirus: NADA Provides Updates on Action, New Law

The new law provides certain eligible employees with potential coronavirus-related emergency paid sick leave, emergency family and medical leave, and expanded unemployment insurance.

NADA and Alliance Call on Trump Administration to Consider Dealerships Essential Businesses

Given the lack of uniformity in how states and local municipalities taking action are classifying dealership sales, service and parts operations, NADA and the Alliance have requested that the U.S. government ensure that the nation’s motor vehicle fleet remains as safe and operational as possible by considering vehicle repair, maintenance and sales facilities as essential operations during the coronavirus outbreak.

NADA Market Beat: U.S. New Vehicle Sales Up 1.9% Year-Over-Year

New light-vehicle sales in February were strong, with a SAAR of 16.83 million units for the month—an increase of 1.9% compared to February 2019. Raw sales volume topped 1.3 million units, an increase of 8.4% compared to February of last year.

Economic Forecast and Employment Trends

Jonathan Banks, vice president of Vehicle Valuations and Analytics at J.D. Power, joined NADA Senior Economist Patrick Manzi for a discussion of economic trends in the automotive industry.

NADA Market Beat: Light Trucks Represent 75% of All Light Vehicles Sold

New light-vehicle sales in January were close to flat compared to this time last year. January’s SAAR of 16.84 million units represents an increase of 0.8%.

NADA Market Beat: 2019 U.S. New Vehicle Sales Mark 5th Year Over 17 Million Units

The year came to a close with new light-vehicle sales of 17.1 million, according to the Automotive News Data Center. This marks the fifth straight year of more than 17 million units  sold.

NADA Market Beat: U.S. New Vehicle Sales Down 1.5% Year-to-Date

It seems we are on pace for another year of 17 million units, with new light-vehicle sales registering a 16.94 million SAAR through November.

NADA Market Beat: U.S. New Vehicle Sales Down 1.5% Year-to-Date

New light-vehicle sales posted declines again this month, with the October SAAR of 16.6 million representing a decrease of 5.3% compared to October 2018.

NADA Market Beat: U.S. New Vehicle Sales Down 1% Year-to-Date

The September SAAR of 17.19 million units represents a decline of only 0.8% compared to September of last year. And the year-to-date SAAR of 16.98 million units represents a decline of just 1%.

NADA Market Beat: U.S. New Vehicle Sales Down 1.1% Year-to-Date

U.S. light-vehicle sales closed out August at a year-to-date SAAR of 16.95 million units. August sales were strong due to an additional selling weekend and the inclusion of Labor Day weekend sales events in the August sales results.

NADA Market Beat: U.S. New Vehicle Sales Down 1.4% Year-to-Date

New light-vehicle sales continued to fall in July. The SAAR for the month came in at 16.82 million units, down slightly from July of last year.

Study: Dealership Jobs Appeal to Generation Z

Move over millennials: a new generation is entering the workforce and they are increasingly attracted to careers in the automotive retail industry.

NADA Market Beat: U.S. New Vehicle Sales Down 1.2% Year-to-Date

Three fewer selling days in June resulted in an increased SAAR for the month, but there was a decrease in the total number of units compared to June 2018. June sales of 1.51 million units sold represents a decrease of 1.9%.

NADA Market Beat: Despite a Solid May Sales Performance, U.S. Light-Vehicle Sales Down 1.8% Year-to-Date

New light-vehicle sales in May surprised many in the industry. The SAAR of 17.31 million units for the month represents an increase of 0.7% compared to May 2018.

Getting Ahead Starts with Owning a Car

Large swaths of Americans, particularly single parents and the working poor, would benefit from owning a car, research shows.  

NADA Market Beat: U.S. Light-Vehicle Sales Down 4.5%

U.S. light-vehicle sales continued to fall in April, with a SAAR of 16.43 million—a decline of 4.5% compared to this time last year.

Volkswagen’s Scott Keogh on EVs: “We are Massively Scaling for this Opportunity”

Volkswagen President and CEO, Scott Keogh, joined the NY Auto Forum in advance of the New York International Auto Show to discuss what he describes as a “higher calling” for VW and the automotive industry as a whole.

Toyota’s Bob Carter Discusses Tariffs, EVs, and Personal Vehicle Ownership at NY Auto Forum

Closing out a packed agenda at the annual NY Auto Forum, Bob Carter, Toyota’ EVP of Sales discussed dangers posed by tariffs, suggested a reality check for EV demand and shared some thoughts regarding the future of personal vehicle ownership.

President Trump Visits Nuss Truck & Equipment in Minnesota

President Trump, Treasury Secretary Steve Mnuchin, U.S. Treasurer Jovita Carranza, and a crowd of more than 300 attendees heard from business leaders about the benefits of the Tax Cuts and Jobs Act, which was signed into law in 2017.

NADA Market Beat: U.S. Light-Vehicle Sales Down 0.9%

After a sluggish start to the year due to the federal government shutdown and several weather-related events, the seasonally adjusted annual rate (SAAR) of sales in March was at a strong 17.48 million units—bringing the SAAR for the first quarter up to 16.94 million.

NADA Market Beat: U.S. Light-Vehicle Sales Down 2.5%

Through February, new light-vehicle sales were down 2.5% compared to this time last year. The monthly SAAR of 16.53 million units represented the lowest monthly SAAR since February 2015.

One NADA

NADA is the force that unites new-car dealerships against the obstacles they couldn’t overcome individually.

NADA Market Beat: U.S. Light-Vehicle Sales Down 3%

U.S. light-vehicle sales fell by 3.0% compared to this time last year. Many segments posted declines or were flat, although the popular pickup and crossover segments gained market share relative to January 2018.

The Future of Personal Vehicle Ownership

NADA commissioned a large-scale research project that included consumer focus groups and a national survey about the future of personal transportation. And what we found cuts against much of the “conventional wisdom.”