SAN FRANCISCO — Growth in wholesale volumes as well as new- and used-vehicle sales, and stability in wholesale pricing were among the highlights of another strong year in the automotive markets, according to trends identified in Manheim's annual Used Car Market Report. The Report was released last week at the 2015 NADA Convention & Expo.
"While last year was a banner year for growth and stability in the used-vehicle market, we anticipate that we'll see the sixth consecutive year of increased new-vehicle sales in 2015," said Cox Automotive Chief Economist Tom Webb. "These sales increases will drive auction volumes higher for many years to come. This, plus the increased importance of the used-vehicle market, will reinforce remarketing's critical link in the automotive ecosystem."
In its 20th year, the report provides a comprehensive look at the various segments of the automotive industry, along with a series of brief case studies and highlights from previous editions. The following are some of the conclusions in this year’s edition:
Overall New- and Used-Vehicle Markets
New-vehicle sales rose for the fifth consecutive year in 2014
At slightly more than 42 million, used-vehicle sales were virtually unchanged from 2013
Vehicle Remarketing Industry
The National Automobile Auction Association (NAAA) volumes increased 5% to 8.6 million and are expected to continue growing this year
After declining in the previous two years, wholesale used vehicle prices increased 1.5% in 2014
The last four years have shown the least volatility in wholesale pricing since the inception of the Manheim Used Vehicle Index in 1995
Dealers
Used-vehicle operations produced record profits
Certified pre-owned sales totaled a record 2.3 million units
Dealer consignment volumes at wholesale auctions remained at historically high levels
Rental
Rental industry revenue grew for the fifth-straight year to a record $26.1 billion
Weather and recalls presented rental car companies with challenges and opportunities in 2014
Leasing
Lease originations exceeded 3.5 million for the first time since 1999
The rise in off-lease volume in 2014 was only the beginning, considering that new lease originations have been on a steady rise for five years
Repossessions
Repossessions increased 8% in 2014 to an estimated 1.5 million
Total auto loans outstanding rose to nearly $1 trillion by year's end
Fleet
New-car and light-duty vehicle purchases into commercial and government fleets increased by 7% to 850,000 units in 2014
Wholesale prices for end-of-service fleet vehicles were at record highs in early 2014 but eventually dipped below 2013 and 2012 levels
International and Export Markets
The overall global new-car market reached 43 million units in the first half of 2014
China continues to be the largest new-car market in the world, while Brazil lost its fourth place position to Germany in 2014 and the U.K. overtook Russia for seventh place
Increased confidence in buying on the Internet has led to international dealers relying more heavily on these platforms to buy used cars from the U.S. and other markets
Salvage
Prices for salvage units at Manheim auctions increased modestly and volumes rose by 8,000 units
The trend of international buyers acquiring vehicles from salvage auctions continued
Dealers expect 2015 to be another good year, though perhaps not quite as good as 2014.
They headed to San Francisco for the National Automobile Dealers Association convention after just having closed the books on what was, for almost all of them, a profitable 2014 -- notably, even in the new-car department.
Looking ahead, they're adding headcount, but they see more revenue potential in used vehicles than new ones. Those are the conclusions from an unscientific online survey that Automotive News conducted as last year was wrapping up, Dec. 15-18.
Of the 148 respondents, 71 percent said they expect vehicle sales at their dealerships this year to be better or much better than last year. That's down from 74 percent a year earlier, and 82 percent going into 2012, when the industry was still rebounding smartly from the recession.
The modest overall change masks a loss of some euphoria. Just 8 percent said they expect vehicle sales to be much better in the coming year, down from 15 percent a year earlier and 18 percent in early 2012.
"About the same" was how 25 percent of respondents summed up their sales expectations for this year, up from 23 percent a year earlier and just 15 percent in 2012.
In 2014, 94 percent of respondents said their dealerships were profitable. That was off slightly from 96 percent a year earlier.
But 78 percent said their new-car department was profitable last year, up sharply from 69 percent a year earlier.
This year will be another profitable one, survey respondents said. The outlook for 2015 is for better or much better profits, said 72 percent of respondents. That is little changed from 71 percent a year earlier but off from 76 percent going into 2012.
But again, the froth is subsiding. While 9 percent said they expect much better profits in the new year, that's down from 12 percent a year earlier.
One anonymous respondent backed up his rosy view of 2015 with the following comment: "Cheap gas, low interest rates, free flowing credit and rising consumer confidence. It could be a record year for dealership profitability in the U.S."
But another saw a cloud accompanying that silver lining: "In my view, the major challenge in 2015 is the valuation of used cars. As the industry bumps up to the 17 million number no manufacturer wants to backslide relative to market share. As a result we will see the most robust marketing support of all time. We all know what that does to used values."
Yet another offered these cautionary words: "The economy is not growing fast enough, so expectations are the same as last year if not worse. Used-car inventory is still the greatest difficulty."
Even if they're becoming more guarded in their optimism, dealers are investing in the future. Of the respondents, 51 percent say they plan to expand, renovate or add to their dealership's physical facilities this year, up from 44 percent a year earlier.
And 64 percent said they're adding headcount, up 10 full percentage points from 54 percent a year earlier. Crowed one anonymous respondent: "We are in a growth mode and we will be adding staff in every department in 2015."
Meanwhile, 52 percent said they see the greatest revenue potential in used-vehicle sales, up from 43 percent a year earlier.
By: AutoDealer Monthly
WOODCLIFF LAKE, N.J. — December’s total new-vehicle sales increased 10.8% vs. a year ago to 1.5 million units, according to Autodata Corp., capping off a year in which sales increased 5.9% from a year ago to 16.5 million units. December’s seasonally adjusted annual rate did fall from November’s 17.2 million-unit rate — the highest rate of the year — to 16.92 million, but December’s SAAR was still the second highest rate of the year. The following is a breakdown of sales performance by manufacturer.
BMW: The BMW Group reported a 9.5% sales increase in December over the same month a year ago, with sales totaling 48,141 vehicles sold. The company sold 375,782 vehicles for all of 2014, a 5.3 % increase and a new U.S. sales record.
The best-performing vehicles for BMW in December were the 3 and 4 series, with sales of those models increasing 16.3% to 19,464 units. Reflecting the current popularity of SUVs, sales of the OEM’s X5 increased 18% from a year ago to 47,031 units sold in December.
Mini sold 10,000 fewer units, a 15.6% decrease, in 2014 than it did in 2013, with sales totaling 56,112 units. However, the brand did score its best December on record, selling 6,615 units for the month.
Chrysler: Fiat Chrysler Automobiles reported a 20% year-over-year increase in December, with sales totaling 193,261 units. FCA says this was the group’s best December since 2004, with the monthly performance capping of a year in which the OEM increased sales 16.1% from a year ago to 2.1 million units sold.
All three Ram Truck brand and three Jeep brand vehicles set records in December. Chrysler’s car sales hit record strides as well, with the Chrysler 200, Dodge Dart, Challenger, and Journey posting best-ever unit sales in December.
Ram Truck sales were up 32% in December and finished the year with a 28% increase vs. 2013. Officials said this was the best full-year sales performance since 2005. Jeep brand sales in December were up 19% from a year ago, while Chrysler brand sales increased 53% and Fiat Brand sales were up 1% for the month.
Ford: Ford posted its best December sales performance since 2005, with sales increasing 1% from a year ago to 220,671 vehicles sold. For the year, sales totaled 2,5 million, which was flat compared to 2013. Company officials noted that sales didn’t show an increase because of the new F-150 changeover and a planned 15% reduction in daily rental sales.
The F-150 was the fastest turning vehicle in showrooms this year, however, with trucks averaging just five days on dealer lots in December. Ford sold 74,355 trucks in December and 753,851 for the year.
The Ford Fusion and Escape both had record sales years, with both models posting combined sales of more than 306,000 units for all of 2014. The Escape also posted it best December in company history, with sales totaling 25,603 vehicles.
Lincoln sales were up 21% compared with last December and were up 16% for the year, with 94,474 vehicles sold. Navigator sales alone increased by 90% in December, with 1,792 trucks sold.
General Motors: GM delivered 274,483 vehicles in December, a 19% increase from a year ago and the OEM’s best December in seven years. Total vehicle sales for the year were up 5.3% over 2013, with 2.8 million cars and trucks sold for all of 2014.
Five GM vehicles, the Chevrolet Corvette and Spark, The Buick Enclave and Encore, and the GMC Sierra all posted record annual sales in 2014.
GM’s average transaction price saw 27 consecutive months of year-over-year increases and stood at a record $36,300, according to J.D. Power estimates. The ATP increased $1,000 per unit over November and $3,000 per unit over a year ago in December.
Honda: Honda had its second best year yet in 2014 with 1,540,872 vehicles sold, a 1% increase vs. 2013 sales. The American Honda division also reached a new high, selling 1.4 million cars and trucks for the year.
In December, light-truck sales increased 6.2% from a year ago to 67,479 units, bringing the yearly sales total to 702,351. Acura also posted strong sales in December, reporting a 13.1% gain from a year ago on sales of 17,809 vehicles. The performance delivered the division third best year since 2007.
The Civic once again surpassed the 300,000-unit sales mark in 2014, while the CR-V sold 335,019 units for the year. The Fit also realized its best December sales, with 6,450 vehicles sold in December — a 39.7% increase from a year ago.
Hyundai: Hyundai Motor America reported record December sales, which increased 2% from a year ago to 64,507 units. For the year, Hyundai sold 725,718 vehicles, which the company says is the fifth consecutive year of record U.S. sales.
The Santa Fe and Tuscon followed the upward trend of SUV sales with increases of 21.5% and 13%, respectively, in December. The Sonata and Genesis cars also posted significant sales increases for the month (24% and 17%, respectively).
Mazda: The OEM realized its best December sales performance ever, with sales increases 8% from a year ago to 24,808 units sold. The company also posted its highest annual sales total in 20 years with 305,801 vehicles sold.
Mazda also posted its best annual sales performance since 1994 in terms of retail-only sales, with sales totally 278,880 vehicles sold. The feat was achieved despite the company’s decreasing reliance on fleet sales. December was also the best month yet for the CX-5, with sales increasing 14.9% from a year ago to 7,721 units sold.
Mercedes-Benz: Mercedes-Benz USA scored its best December sales performance yet, delivering 34,009 vehicles for the month. Annual sales also broke records, with 366,589 vehicles sold.
The redesigned C-Class was the company’s top seller, with 75,065 units sold in 2014. Following behind was the E-Class with 66,400 units sold. The best-selling SUV was the M-Class, with sales increasing 13.1% from a year ago to 46,726 vehicles sold.
Sprinter sales increased 18% for the year to 25,745 units sold, while smart Car sales increased 12.8% to 10,453 units.
Mitsubishi: December was the OEM’s 10th consecutive month of year-over-year sales increases, with sales totaling 6,545 units. The company also realized a 24.8% annual sales increase in 2014, with sales totaling 77,643 units.
The Outlander Sport was the top-selling model with 2,755 units sold in December and 31,054 units sold for the year. The Mirage led all car models for the year, with sales totaling 16,708 units for the year.
Nissan: Nissan set a December sales record with 117,318 units sold, a 6.9% increase from a year ago. For the year, the OEM recorded an all-time record, with Nissan and Infinite sales totaling 1.4 million units, an 11.1% increase vs. 2013 sales.
Altima sales increased 30.3% in December vs. one year ago to 32,331 units sold, a December record, according to company officials. Sales of the Nissan LEAF totaled 3,102 units in December, which was also a record for the all-electric vehicle.
Toyota: Toyota sold 215,057 vehicles in December, an increase of 12.7% from December 2013 on a volume basis. Total annual sales were 2.4 million units, an increase of 6.2% over last year.
Lexus reported an all-time monthly sales record in December, with sales increasing 14.7% from a year ago to 39,879 units sold. Lexus sales increased 13.7% for the year to 311,389 units sold. It was the first time since 2007 that Lexus topped 300,000 vehicles in a single year.
Leading the way for Toyota was the Camry, with sales in December increasing 5.5% from a year ago to 31,618 vehicles sold. Additionally, Corolla sales rose about the 30,000-unit mark and realized a 33.5% sales increase from a year ago.
Volkswagen: Volkswagen’s December sales increased 4.5% from a year ago to 53,837 vehicles sold. On an annual basis, sales fell 2.9% vs. 2013 to 552,720 vehicles sold.
Sales for Volkswagen division fell 10% from 2013 totals to 366.970 units sold. For December, sales fell 0.1% to 34,058 units sold.
Audi Sales were up for the year, increasing 15.2% over 2013 to 182,011 units sold. For December, Audi sales increased 13.1% from a year ago to 19,238 vehicles sold.
Porsche Cars North America set an all-time U.S. sales record for the year, with sales increasing 11.1% from its record-setting 2013 performance to 47,007 units sold. December sales totaled 2,275 vehicles sold, a slight increase over last December.
Porsche introduced the Macan this year, which achieved sales of 7,241 units for all of 2014. Sales of the Cayenne SUV totaled 16,205 units for the year, which was down from 2013. And despite sales falling in December vs. a year ago, the Cayenne was the OEM’s best-selling model for the month with 934 units sold.
Additionally, Porsche sold 10,442 911s for the year, a slight increase over last year.
CARMEL, Ind. — Average wholesale used-vehicle prices fell modestly in December but remained up on a year-over-year basis, according to ADESA’s Chief Economist Tom Kontos.
“These results reflect the ongoing growth and change in the composition of wholesale supply toward greater ‘institutional’ volume (off-lease, off-rental, off-fleet, repos, etc.) versus dealer consignment volume yielding a ‘richer mix’ that elevates average prices even as supply growth applies downward pressure to those prices,” Kontos explained in the December edition of the Kontos Kommentary.
The economist also added that the change was not the only factor supporting used-vehicle prices. New-vehicle incentives have been “relatively benign,” while the sales of used cars — especially certified pre-owned vehicles — have been strong.
“…supply curtailments and disruptions due to weather and recalls occurred throughout the year; and redistribution of volume into multiple remarketing channels, all have diffused the significant impact that supply normally has on wholesale values,” he added.
The firm found that wholesale used-vehicle prices in December averaged $9,844 — down 0.3% compared to November and up 2% relative to December 2013. Luxury and sports cars experienced healthy average price increases, which Kontos attributed to dealers looking to stock such cars in time for the holidays.
Prices for used vehicles remarketed by manufacturers were up 9.6% month over month but down 2.8% year over year.
“Sale curtailments due to recalls were a factor in these December results, and ‘factory’ inventories were relatively high entering 2015,” Kontos noted. “Thus, the tailwind to prices that might have been provided by the absence of units due to these sale curtailments could turn into a headwind as these units are released in early 2015.”
On the fleet/lease side, consignors were up 1.3% sequentially but down 0.3% annually. Prices for off-rental “risk” units held up relatively well, and rental companies that capitalized on the absence of factory units did well, Kontos added.
Dealer consignors registered a 1.7% increase vs. November and a 3.0% increase relative to December 2013, indicating the wholesale market is readily absorbing excess dealer trades generated from strong new-vehicle sales.
Retail used-vehicle sales in December were down 0.3% month over month and 4.1% year over year, based on data from CNW Marketing/Research.
“Despite these December declines, retail used-vehicle sales in 2014 reached a respectable 29.6 million units, very close to last year’s total,” Kontos said.
The composition of those sales included a higher percentage of higher priced, and typically higher grossing, certified pre-owned (CPO) vehicles, which totaled 2.3 million units in 2014 vs. 2.1 million the year before. CPO sales were particularly strong in December, rising 3.9% month-over-month and 17.2% year-over-year, according to figures from Autodata.
Customers used to hop from dealership to dealership looking at cars, asking questions, and getting vehicle info. Now, thanks to the internet, customers hop from dealership website to dealership website, doing their research online, often only visiting the dealership's brick and mortar store for that final step - the test drive.Everythinga car buyer needs and wants to know about a car, from photos and price to specifications and financing information is available on a dealership website - or so it should be - if the dealer wants to drawcustomersonto his lot.The question becomes: Are you giving your potential customers what they want and need in your dealership website in a way that will result in a sale?
The list of what car buyers want in a dealership website is not long, but crucial to making those sales. A car dealership website needs/must be:
Engaging/User Friendly - Once customers land on your website, you haveroughly 10 seconds to capture their attention. If you don't capture their attention withinthose first 10 seconds, they leave. Cars dealership websites by their very nature don't have high entertainment value, which means you need to do everything you can to make the user experience pleasant and easy.You must achieve the right balance of appealing design, easy navigation, and great/informative content.If you give customers something to complain about, or make their experience difficult, confusing or in any way frustrating, you will lose them.
Spectacular Photos/Content - Spectacular photos, ones that make any car look like a million dollars, will attract and keep a customer's attention. After all, buying a car is a huge investment. Your customer wants to feel as if he's getting the best car out there and the photosyou use constitute the ultimate visual pitch. On a similar note, engaging text that is realistic and lets the customer know what there is about a particular vehicle that makes it stand out from the rest can be key. This is in addition to providing the vehicle's specs, which should always be available on your dealership website for those who want the nitty-gritty details. Not all customers know the difference between a V6 and a V8, so you want to have content that ‘speaks' to both your car aficionados and your buyers who just want the right car without knowing what makes it run.
Inventory Searches - At a minimum, a car dealership should have an inventory search that allows customers to choose by new vs. pre-owned vs. certified pre-owned, model, make, color, year, and price. Some car dealerships allow further search capabilities of their inventory by features such as drivetrain and engine type. The ability to ask and receive online quotes, calculate financing, arrange a test-drive and chatwith dealership personnel allowsa customer to find out what he needs as heconducts hisresearch, but these are all secondary to the customer's need to find the right car quickly and easily on a dealer'swebsite.
Side-by-Side Vehicle Comparison - It's not uncommon for a customer to debatebetween two or more cars, and flipping back and forth between separate screens to compare car featuresis annoying, not to mention a waste of time.Today's customers are used to instant gratificationthrough slick features and apps and as a result tend not to tolerate websites that frustrate them (i.e. slow to load, hard to navigate, etc.). The ability to pull up two or more cars for a side-by-side comparison makes the user experience helpful in a way that just may give you an edge over your competitor.
Social Media Share buttons - Friends and family often play a huge, if not subtle role in a buyer's purchase decision of major ticket items such as a car. Buyers want theability to email or post a vehicle's picture and information to social media to show their potential purchase to friends/family. They want their family and friends' opinions, and they want to feel their excitement. If customersdon't have theability to sharea car's photo/information on their favorite media channels, they may move to a site that provides that functionality.
Internet deals/specials/coupons - Customers can't shop online without being bombarded by coupon or promo codes, not to mention special deals. As a result, customers expect to find deals/codes and promotions when they're read to buy, especially when the item is as expensive as a car. If you don't have a section that says Internet Deals or Specials, customers may pass you over for a site that does, even before they've selected a car! We're not saying you have to give away cars in these deals, but the psychological advantage of having such a section makes users feel as if they may be able to get a better price or some advantage they wouldn't get elsewhere. Whether you end up rotating coupons, tying them to purchase or service agreements or just offering the occasional oil change at a discount is a separate strategy all together, but the key here is to HAVE an internet specials/discount section as part of your car dealership website.
Schedule Test Drive/Place Car on Hold - There's perhaps nothing more frustrating than spending a lot of time researching the perfect car and then finally finding it only to have it bought out from under you because you didn't get to the lot in time to test drive it. Allowing a customer to not only schedule a test drive from your car dealer website, but also place a hold on a specific car until he can test drive it is a feature that shows the customer you care about him enough to work with him on his terms and his schedule.
Optimization for Smartphones/Tablets - You should optimize your website for smart phones and tablets because 90% of customers flip back and forth betweenPCs, smart phones,and tablets. If your website isn't optimized for smart phones and tablets, you have essentially destroyed the otherwise easy user experience for your customers. And you know what happens one your customers become frustrated… they move on to anothercar dealership website. Providing a seamless and user-friendly transition for customers who land on your website helps ensure you will keep those customers, regardless of which device(s) they use to access your site during the course of a day, week or month.
U.S. car dealerships are making progress in offering employees a better work-life balance, but continue to face challenges in retaining sales staff and recruiting women.
Those were some key findings in the National Automobile Dealers Association’s third annual Dealership Workforce Study released today. Its findings are based on data collected from more than 240,000 payroll records last year.
“The report shows a growth industry with strong earning opportunity in a challenging work environment,” said Ted Kraybill, president of ESI Trends, the Largo, Fla., firm that compiled the study for the NADA.
The median weekly earnings at dealerships outpaced those of the overall U.S. private sector workforce, and while the industry is “often characterized as a ‘high-turnover’ work environment, actual turnover at new-car dealerships is significantly less than the private-sector average,” Kraybill said.
Total dealership employee turnover increased from to 36 percent from 35 percent, compared with 42 percent nationally for private sector employees, said the report.
Second-choice career
But sales consultant turnover exceeded the national average for the private sector, Kraybill said. The average dealership had a 66 percent turnover rate among sales consultants, up 4 percentage points from the previous year, said Kraybill.
A big part of that increase was because of higher numbers of Generation Y employees in those positions, Kraybill said. Of new hires, 47 percent were Gen Y, which Kraybill defines as those 18 to 29 years old. Most are coming into sales positions and service technician jobs. They constitute 27 percent of the dealership workforce, up from 23 percent the previous year, said the report.
“With Gen Y, for whatever reason, comes higher turnover,” Kraybill said. “A higher percentage of those unemployed are Gen Y, and dealers are having to draw from the ranks of the unemployed.”
In many cases, those Gen Y workers who come on board are people struggling to find jobs in their first career choice, Kraybill said. “So if they don’t have as many choices, then they have to consider things that might not have been their first choice,” Kraybill said. “It’s an opportunity for dealers who are getting a first crack at this new, untested talent.”
But Kraybill warns that dealers are turning off Gen Y workers because of the way that “dealers historically operate.” Specifically, he said, fully commission-based compensation doesn’t appeal to Gen Y workers.
Gender gap persists
Many dealers are starting to do the right things to retain sales consultants, Kraybill said, such as shifting toward more salary-based compensation. They are also “reorganizing their staffing models to reduce total hours and focusing on team-based incentives,” Kraybill said.
The percentage of dealerships that schedule employees to work more than 45 hours per week has declined over the three years of the study.
In 2013, 13 percent of dealerships surveyed scheduled sales consultants to work more than 50 hours, compared with 14 percent in 2012, the study said. The report showed 16 percent of dealerships scheduled service advisers for those hours, down from 17 percent the previous year.
The study found no change in the gender gap at dealerships. Of active payroll employees, 18 percent are women. Kraybill said part of the reason for the stagnation is that most available dealership jobs are in service as technicians.
“You’re getting more women coming in as service advisers, but a lot of them don’t want to turn a wrench,” he said. “So service isn’t going to help increase that, and on the sales side, the culture is very male-driven and it’s not necessarily an environment that attracts women.”
Among the other findings:
In 2013, total dealership employment rose 3 percent to more than 1 million.
Median weekly earnings were $976 in 2013, 25 percent higher than median weekly earnings of $782 for the U.S. private sector.
Weekly earnings in 2013 increased 1 percent from 2012, a slower pace than the 4 percent growth the previous year.
Auto sales were up in November across the United States, due in part Black Friday, and Hawaii auto dealers are on track to see a strong finish for the year.
Total auto sales nationwide increased 4.6 percent to 1.3 million new vehicles sold in November, according to Auto Data Inc. The Hawaii Automobile Dealers Association predicts that Hawaii will see an 8.8 percent increase in new vehicle registrations in 2014.
Mark Benson, president of Honolulu Ford Lincoln, said his dealership has seen an 11 percent increase in sales so far in 2014 compared to all of 2013. The dealership has sold 1,342 vehicles so far this year, compared to 1,209 at the same point last year.
In November, the dealership sold 132 cars, compared to 112 in 2013. Benson expects the number to hit 1,500 for all of 2014.
The dealership began closing on Sundays this year, making the numbers even more telling, said Benson, who credits an improving economy and the fact that Hawaii's aging fleet of vehicles on the road "has more miles than ever before."
The dealership has more than 800 new vehicles on the lot. Benson said that when he arrived in Hawaii three years ago, the dealership had $3.5 million in inventory. Now it has about $28 million. Three years ago, the dealership had about 40 leases on its books. Now that number is about to hit 1,000.
So far this year, new registrations in Hawaii total 41,039 for the first nine months of 2014, a 9 percent increase from 37,609 during the same time period in 2013.
Mike Niethammer, president of the Hawaii Automobile Dealers Association and president of King Windward Nissan Infiniti, said sales at his dealership increased about 1 percent in November.
While he did not have exact figures, Rick Ching, president of Servco Automotive, said that sales in November of this year were higher than November 2013.
"We had a stonger November," he said. "It's generally stronger than the growth on the Mainland. There are great cars out there.The economy is certainly recovering, so there is more confidence out there, and gas prices have been down. People put off getting new vehicles, and now they are coming back into the market and seeing great products."
