June sales came in slightly ahead of many analyst’s forecasts, something dealers already knew, I suspect. Automakers with strong crossover lineups did best.
“Consumers are benefitting from a solid labor market, eschewing concerns about rising gas prices and tariff threats, driving the market for cars and trucks, with crossovers continuing to dominate the market,” said KBB executive analyst Rebecca Lindland in a press release.
New vehicle transaction prices also rose 2.1 percent compared to June of 2017 to $35,511. All good news.
We’re publishing a day early this week so all of us can enjoy the July 4th holiday. We hope all of you have a great holiday, as well.
This week CliftonLarsonAllen graces our pages with a look at how a Fixed Asset Study can help a dealership reclassify up to 40 percent of its depreciable asset base into shorter tax lives. Read more here.
We welcome a new contributor to our pages this week. Citrin Cooperman accountants and advisors joins our pages. Jumping in with both feet, today’s issue features the first in a three-part series on Benchmarking.
And of course we have Transaction News.
Happy 4th of July and enjoy!