To turn around declining service department business, Cole Chevrolet-Buick-GMC in Bluefield, W.Va. focused on improving its processes, updating pricing and tracking performance on sales and profit metrics.
Used-vehicle prices are dropping, but models are likely to hold more value through at least 2025 than they did pre-pandemic, according to experts from J.D. Power and Black Book.
Dealers featured this week include Scott Quigley and Will Rogers, general manager and dealer principal of Chipola Ford in Marianna, Fla.; John Bommarito, dealer principal of Bommarito Buick-GMC in Ellisville, Mo.; Ed Lennon, dealer principal of Circle Infiniti in West Long Branch, N.J.; Doug Peppers, dealer principal of Peppers Toyota in Paris, Tenn.; the Greater Lehigh Valley Auto Dealers Association and All American Ford in Old Bridge, N.J.
Car and Driver, citing a source within GM, reported that General Motors will introduce a Corvette subbrand starting in 2025, with plans for an electric four-door coupe and crossover.
Analysts said industry sales were up by more than 10 percent in November, even as some brands recorded double-digit increases and sales records. Consumers facing higher prices and rising interest rates were showing greater patience on new vehicle sales instead of their previous 'frenzy,' executives said.