Though dealers in his region of the country reported slow retail sales for both new and used vehicles during the Thanksgiving weekend, one auction executive said the holiday did not impact the auction lanes.
In the post-sale report from Tuesday’s action at Brasher’s Sacramento Auto Auction, John Brasher said the holiday, combined with warm, get-outdoors weather in Northern California, contributed to a lack of shoppers on dealers’ lots.
“However, dealers needed inventory, and our sale was strong,” he said of the auction.
As the month winds down and analysts offer their projections on what kind of figures the used- and new-car retail markets will bring, the picture of the fleet market for November is also becoming clearer.
Based on several recently released analyses, it appears the share of the new-car market commanded by fleet will hover somewhere in the neighborhood of 16 percent.
Starting with TrueCar.com, analysts there are projecting the overall fleet/rental segment to grab a 16.1-percent share of the new-vehicle market once final sales are tallied.
This week, the American Financial Services Association and the National Vehicle Leasing Association joined forces to urge Georgia lawmakers to reconsider legal changes in regard to financing companies paying taxes when vehicles are leased.
Officials used the joint letter to the Georgia Department of Revenue Office of Tax Policy to raise significant concerns about a law that requires finance companies that provide vehicle leases to pay an initial Title Ad Valorem Tax (TAVT) in addition to the monthly sales taxes on the lease payments.
With lease returns opening up again after recession lows, dealers are focusing on retaining these lease-return customers and getting them into a new car. In response, DealerSocket revealed this week a tool designed to help dealers manage lease portfolios with marketing campaigns.
Specifically, MarketPlace Lease works with “automated, multi-channel marketing campaigns” from directly within DealerSocket.
By SubPrime Auto Finance News Editor Nick Zulovich
The National Automobile Dealers Association made the connection Thursday about how warnings issued from the Federal Trade Commission that are primarily targeted at the hotel industry can affect dealer group principals and store managers, too.
The warning is connected with what the FTC calls “drip pricing.” The agency first conducted a special conference on the topic back in May.