Asbury, which tested standalone operations in Houston four years ago, intends to limit used-vehicle sales to its new-car dealerships. The retailers say they believe a deeper dive into used-vehicle sales will boo...
China’s second-hand car market is growing rapidly as more motorists take to the road. Industry players have little to celebrate, however, as the fledgling sector is still like the Wild West while profit margins are shrinking.
often with costly showrooms. Bent on market share, the carmakers flood distributors with new vehicles that must be sold as soon as possible. The resultant discounting trickles down to used cars eating into margins.
SHOPPER IN CAR-BUYING MOOD ; ALTHOUGH PROFIT MARGINS ON USED CARS ARE ATTRACTIVE, FRANCHISED DEALERS IN THE REGION ARE STILL SELLING NEARLY 3.5 TIMES AS MANY NEW VEHICLES AS USED CARSMATT GLYNN
A used-car dealer sold one car at a profit of 25 percent of the dealer's purchase price for that car and sold another car at a loss of 20 percent of the dealer's purchase price for that car. If the dealer sold each car for $20,000, what was the dealer's total profit or loss...
Used-vehicle retailers shifted Q1 goals to profit over volume “Last year in the first quarter we made the tactical decision to realign, reposition and reduce used-car inventory, and I think that proved to be a prudent move as the year went on.”Mike Manley, CEO AutoNation(AUTOMOTIVE NEWS...
Buying a used car in Nigeria is a huge bargain. There are many car dealers that are ready to sell scrap cars to you as long as they take home their profit. This is why you should always do enough research before you start your search for the perfect car. ...
We walk you through the steps a smart car buyer should take to remove intimidation from the process and end up with the best deal on the right used car.
It is still “extremely profitable” to be in the franchised dealership business, says Smoke. New-car and fixed operations margins are also expected to remain strong, he says. “That is the benefit franchised dealers have with multiple businesses tied into one.” ...
If this weren’t the case, the providers wouldn’t be able to make a profit. That said, while you are most likely to pay more money for extended warranty coverage than you’d have otherwise paid for repairs, purchasing one can still be worth it based on financial considerations like ...