Month: June 2021

Shopping For A Used Car? So Is Your Local Car Dealership

Illustration for article titled Shopping For A Used Car On Facebook Marketplace? So Is Your Local Dealership

Photo: Tim Boyle/Newsmakers (Getty Images)

The used car market is out of control right now. That and more in The Morning Shift for June 14, 2021.

1st Gear: Buying A Car Right Now Sounds Intense

I know a couple people who have bought new cars over the past few months. Both are strong-willed, confident people. They have to be, I think. They also very much did not go used, as demand is currently beyond the pale. Part of the problem is that supplies are low for new cars, and that’s driving even car dealerships to hunt for good used cars in the same places you or I might.

Automotive News spoke to Premier Automotive Group’s dealer principal Troy Duhon, who is reportedly kicking $200 to $400 to salespeople for each used car they pick up, sometimes even on Facebook. It’s becoming a bit of a frenzy.

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Ferrari Enters Luxury Fashion, Targeting Uninitiated Youth

Maranello, Italy (AP) — Ferrari V12 production cars were suspended over the factory floor Sunday night as the 74-year-old luxury carmaker launched a new era as a lifestyles brand, with a runway show unveiling its first ready-to-wear collection targeting a younger generation that might not be aware of its Formula One racing pedigree and coveted performance street cars.

Models walked along the halted production line in a symbolic gesture that underlined the creative interplay between Ferrari’s long lineage of sleek, curved automotive bodies and the fashion line by creative director Rocco Iannone, strong on structured outwear contrasting with fluid, bright printed silks in Ferrari red, Scuderia yellow and electric blue.

Iannone’s collection could easily have narrowly targeted Ferrari’s already loyal customer base — mostly more mature consumers who fill waiting lists for the nearly 10,000 annual production of luxury cars that start around $200,000 — with more staid driving clothes

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As new car inventory dries up, here are the ones that are almost impossible to get

Blame a global computer chip shortage that has crippled car production, pent-up demand caused by coronavirus pandemic restrictions, or simply a bustling economy. No matter the cause, one thing is for sure: new cars are in short supply.

Cox Automotive found that some models are nearly nonexistent on dealer lots. A standard metric used in the automotive industry looks at the theoretical number of days it would take for dealers to run out of a specific model entirely, assuming supply was cut off.

See: Brace yourself for a summer of shortages — from lifeguards and fireworks to lobster and beef burgers

Toyota
TM,
+0.72%
dealers have the weakest inventories: just 18 days’ supply on average, meaning lots would be essentially empty in less than three weeks if the automaker stopped shipping new cars from its factories.

The hottest Toyota is, ironically, one of the oldest designs on the market.

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