NC Dealers Navigate a Tough Wholesale Environment
Typical of dealers everywhere is the rising wholesale price environment which is brought on by the scarcity of good used vehicles, leading to shrinking profit margins and shrinking opportunities to fill their used car lots. But North Carolina dealers showed determination as they hunker down and prepare for the "new reality" of smaller profits, fewer opportunities and around $1,500 more per car average.
Oil Prices Continue to Surge
Rising oil prices could become a key issue in the upcoming U.S. presidential election as they approach a nine-month high. Petroleum prices have been moving upward for the past few weeks, but the latest surge began when Iran announced a halt to exports to Britain and France. The average gasoline cost has already topped the $4/gallon mark in some areas of the U.S.
Automakers React to Consumers’ Electronic Expectations
The next few years will bring more changes in car electronics as automakers strive to stay on top of the latest in the digital world. Spansion CEO John Kispert shared his predictions on more changes in car electronics. They include going digital with all major instruments, driver assistance to warn about hazards, gesture and voice recognition, better engine control, and black boxes.
Credit Union Lending Network Allies with OVE.com and GE Capital Fleet Services
CUDL, a major auto lending network for credit unions, announced a new initiative with Manheim?s OVE.com and GE Capital Fleet Services. They will cooperate to further expand GE?s remarketing channels and to offer CUDL?s dealer network a new online vehicle buying program. CUDL also has a separate alliance with Open Dealer Exchange.
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Toyota has upped fleet sales and incentives to increase US market share for its Camry and other products ? half of its January sales went into daily rental fleets. Toyota says sales went up 7.5% for its redesigned Camry, but rental fleet sales are playing a big role in the numbers as Toyota recovers from months of production shortages.
