On this week’s episode of the CBT News Market Update, new car sales came out to a retail SAAR of 11.74, down 9.4% from 13.42 in 2019. The inventory of new vehicles sold took a 7.3% drop year over year. However, used-car sales continue to stay ahead of 2019 with an 8.4% year over year increase. New car inventory is still struggling, down 20.3% from last August, but used inventory is up slightly by 5.4%.
Here to break down how these numbers reflect larger industry trends is Sean Peoples, Chief Revenue Officer for LotLinx and Shawn Vaughn, Chief Operating Officer at VBM Auto Group out of Texas.
Did you miss last week’s CBT News Market Update? Watch it here now and be sure to visit the CBT News Market Center powered by LotLinx for current data on the retail auto market.
Did you enjoy this week’s edition of the CBT News Market Update powered by LotLinx? Please share your thoughts, comments, or questions regarding this topic with host Jim Fitzpatrick at jfitzpatrick@cbtnews.com.
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