Current New Vehicle Market

[Weather Man]

Asbury Automotive acquires Jim Koons Automotive in one of the largest auto retail deals in history​

ABG -2.68%Now!
Asbury Automotive Group (NYSE:ABG) inked a deal on Friday to acquire Jim Koons Automotive Companies, which is the ninth largest privately-owned dealership group in the U.S.
The Georgia-based company said the sale of the Mid-Atlantic Region company is one of the most sizable in auto retail history, representing over $3B in revenue in 2022 and includes 20 dealerships, 29 franchises, six collision centers and one of the highest volume Toyota (TM) and Stellantis (STLA) dealerships in the U.S.
The transaction is expected to close in Q4 of 2023 or early in Q1 of 2024. Asbury Automotive (ABG) plans to fund the purchase price with its existing liquidity, credit facility and cash on hand.
"This acquisition is transformative for our company, enabling Asbury to further expand into one of the country’s top economies in one of its fastest growing regions, with some of the U.S.’ best performing dealerships," noted Asbury Automotive (ABG) CEO David Hult. "Koons has an impressive history of achievement in sales, CSI and revenue across its 20 dealerships, and is legendary for its emphasis on people – employees and community – and for giving back," he added.
Asbury Automotive (ABG) currently operates 138 dealerships, representing 31 domestic and foreign brands, as well as 32 collision repair centers.

 

[tistan]

If Ford goes on strike, what is that going to do the the new f250 availability and prices? Should I wait another year or is the price of the next one going up $5-10k? I was going to buy in December or January, but as it sits, there are only 11 f250s with my options within 500 miles of me and most dealers want 5+k over msrp. Apparently Ford doesn't like to give you adaptive cruise with a 7.3 lariat. I was hoping for some more availability in the coming months.

 

[Corbic]

 

[Lambeau]

I do not like the huge screen with very few physical buttons. The 2014 interior is preferred by me.

Preach it brother.
I miss my '96 Ranger's dash.

 

[ZiaRunner]

Agree. I hate the digital gauge clusters a lot of manufacturers are going to. Doesn’t do anything for me but add cost and potential area for issues down the road.

 

[Weather Man]

Morries running some price leader deals.

And the price leader on XLT's also.

 

[5.0 Hatch]

Morries running some price leader deals.

View attachment 1809097


And the price leader on XLT's also.

View attachment 1809098

I sure wish my wages would increase at the same rate as msrp's. I'm pretty sure my Father paid around the same price as those XL's for his 2015 lariat back in 2014.

 

[03cobra#694]

I sure wish my wages would increase at the same rate as msrp's. I'm pretty sure my Father paid around the same price as those XL's for his 2015 lariat back in 2014.

Got my 18 Lariat for $42 new.

 

[Weather Man]

Got my 18 Lariat for $42 new.

Pre-Covid seems like a different universe now, nothing but one shit storm after another since.

 

[13COBRA]

If Ford goes on strike, what is that going to do the the new f250 availability and prices? Should I wait another year or is the price of the next one going up $5-10k? I was going to buy in December or January, but as it sits, there are only 11 f250s with my options within 500 miles of me and most dealers want 5+k over msrp. Apparently Ford doesn't like to give you adaptive cruise with a 7.3 lariat. I was hoping for some more availability in the coming months.

I'd gladly order you one at below MSRP.

 

[Corbic]

 

[FICannon]

And ppl look at me crazy because I drive 30 year old vehicles.

 

[SADDLE]

$50 over invoice plus $1500 rebate on a '23 f150 lariat loaded with 502 - antimatter blue. good deal?

 

[DriftwoodSVT]

"Ford Motor Company announced that it is projected to lose $4.5 billion from electric vehicles this year, despite increased revenue."

Ford CEO says electric vehicles provoking 'charging anxiety'

Ford CEO Jim Farley discusses the industry's electric vehicle push as companies grapple with sluggish demand and consumer anxiety.

www.foxbusiness.com

 

[Corbic]

"Ford Motor Company announced that it is projected to lose $4.5 billion from electric vehicles this year, despite increased revenue."

Ford CEO says electric vehicles provoking 'charging anxiety'

Ford CEO Jim Farley discusses the industry's electric vehicle push as companies grapple with sluggish demand and consumer anxiety.

www.foxbusiness.com

Didn't they just get $9B from the .gov for electric vehicle development?

 

[Weather Man]

Ford, GM and Stellantis dealerships facing some potent headwinds. Flooring costs have increased significantly, so trying to put more inventory on the lot prepping for a strike is a dilemma. Not many dealerships run like @13COBRA . I have wondered if flooring is one reason dealers around here are running leaner inventory compared to pre-covid.

 

[gimmie11s]

Amazing how all of these industries are trying to convince you "demand is strong" while inventories absolutely PILE UP because no one is buying.

Smoke and mirrors.

The proverbial shit is getting closer and closer to the fan!!

 

[13COBRA]

Ford, GM and Stellantis dealerships facing some potent headwinds. Flooring costs have increased significantly, so trying to put more inventory on the lot prepping for a strike is a dilemma. Not many dealerships run like @13COBRA . I have wondered if flooring is one reason dealers around here are running leaner inventory compared to pre-covid.

Flooring rates are just about back to where they were. Ford Credit is 2017 was something like 5.25%, now they're 6.75%, but offer credits for fast turning your inventory.

Amazing how all of these industries are trying to convince you "demand is strong" while inventories absolutely PILE UP because no one is buying.

Smoke and mirrors.

The proverbial shit is getting closer and closer to the fan!!

Nah. Inventory is still at a <60 day supply. In 2019 it was at 118 days.

 

[Weather Man]

Flooring rates are just about back to where they were. Ford Credit is 2017 was something like 5.25%, now they're 6.75%, but offer credits for fast turning your inventory.



Nah. Inventory is still at a <60 day supply. In 2019 it was at 118 days.

2019 is like a dream gone by, there were some smoking deals to be had.

 

[13COBRA]

2019 is like a dream gone by, there were some smoking deals to be had.

Yep. In 2019 I was happy to be in the black on a new vehicle. lol