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Posts Tagged ‘auto leasing news’

Used Car Sales to Keep Dealers Afloat During New Vehicle Sales Slide

Off-lease vehicles becoming affordable alternative to new.

by on Jun.29, 2017

New data shows that U.S. auto dealers are expected to handle the downturn in new car sales just fine by selling more used cars.

Despite a drop in the sales of new vehicles during the first half of 2017, American car dealerships are still expected to sell more cars and trucks this year thanks to robust demand for used vehicles, which indicates the auto industry is nowhere near slipping into a recession.

Jonathan Smoke, chief economist for Cox Automotive, which manages online publications such as Kelley Blue Book and Auto Trader as well as used-auction centers, said data already indicates that the shift is well underway. “Dealers are selling more vehicles, but the mix is changing and shifting from new to used.”

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Thanks to strong sales since the recession, the supply of appealing used vehicles has increased substantially helping dealers build their inventories of used vehicles, said Smoke, who added dealers are also willing to pay more for used vehicles to insure they have an adequate supply of used vehicles. (more…)

Ally Raises Caution Flag About 2017 Auto Sales

Increase in leasing hurting finance companies.

by on Mar.24, 2017

Ally Financial executives are sounding a warning, suggesting the current sales boom is fading.

As warnings go it wasn’t exactly a call to abandon ship, but it was a reminder that the auto sales boom of recent years is losing steam.

But Ally Financial Inc., which once upon a time was the financial arm of General Motors known as GMAC, has warned investors that its profit might not grow as quickly as it once thought because the demand for new cars is shifting.

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After two consecutive years of record sales, analysts are predicting another big year for auto sales in 2017. But the price that carmakers are paying to maintain that pace is climbing. (more…)

Dodge Offers “Double-Up” Lease on Charger, Challenger

Customers get a year in a 2014, three in a new 2015.

by on Apr.15, 2014

Dodge comes up with an unusual lease program for its Charger and Challenger models.

The new Dodge “Double-Up” deal is offering Charger and Challenger customers a chance to get two vehicles out of one lease.

The move appears to be meant to give some momentum to the two Detroit muscle cars which have been struggling to gain ground on traditional segment leaders Ford Mustang and Chevrolet Camaro. It also helps clear out an inventory backlog as Dodge prepares to roll out updated versions of its twin performance models.

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The Double-Up program lets a buyer lease a 2014 Dodge Charger or Challenger and then come back, a year from now to swap out for a 2015 model. (more…)