Photo Illustration: Adam FalkAfter minting money during much of the pandemic, car sellers are in a tough spot: Between still-high vehicle prices and, consumers are struggling to afford new cars. Yet auto makers aren’t offering enough incentives to move vehicles off the lots, either.
AutoNation said on Thursday that on a same-store basis, it sold 2.8% fewer new vehicles and 17.5% fewer used cars in the first quarter compared with a year earlier. Lithia Motors on Wednesday said it sold 6.3% fewer new vehicles and 2.4% fewer used vehicles over the same period.for longer as a result: Lithia said there were about 52 days of supply of new vehicles in the first quarter, up from 47 days a quarter earlier.
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Source: ForbesTech - 🏆 318. / 59 Read more »