21 Jun, 2024

US new vehicle sales rise 12% as buyers shake off high prices, interest rates, and auto strikes

DETROIT (AP) — Undeterred by high prices, rising interest rates, autoworker strikes and a computer-chip shortage that slowed assembly lines, American consumers still bought 15.6 million new vehicles last year, 12% more than in 2022, the biggest increase in more than a decade.

Yet sales still haven’t returned to the 17 million rate in the years before the pandemic, and there are signs of a cooling market as buyers aren’t as willing to pay astronomical prices that dealers and manufacturers were charging just months ago.

“You see the consumer making a concerted effort to ensure that they’re getting the best price possible,” said Jonathan Chariff, CEO of South Automotive Group, a 10-dealership group in the Miami area. “They basically feel that this is the right time to buy from a perspective of being able to get the discounts.”

Average auto sales prices peaked in December of 2022 just over $47,300, with vehicles in short supply due to the global chip shortage that limited production. Some dealers were able to charge over the sticker price to buyers who needed a new ride or had the money to get one.

But the chip shortage gradually eased last year to the point where

1 min read

Dan Sale announces retirement, Sale Auto Mall under new ownership — Neuse News

Dan Sale, the owner of Sale Auto Mall in Kinston, has announced his retirement and the subsequent sale of the dealership. Established in 1986, Sale Auto Mall has been a significant player in the local automotive industry. The business includes BMW, Kia, Chevrolet, Buick, GMC, Ford, and a wide variety of certified used vehicles.

“We are selling to another family auto group, the Deacon Jones Auto Group from the Smithfield/Goldsboro area,” said Sale. “It was important for us to have another family group take over. They will take good care of my wonderful 100 plus employees.”

The next chapter for Sale is a future business called Sale Land and Sea Collectibles, which will feature classic cars, motorcycles and boats. It will be located near Lowes.

“I have the building, but it will remodel before we officially open,” said Sale. “I need to take a break first.”

This period of transition is a family affair. Cathy Sale, Dan Sale’s wife, is also set to retire in February. Her retirement aligns with the shift in their professional lives, marking the end of an era for the Sale family in the automotive dealership industry and the beginning of a new chapter with Sale

1 min read