Welcome to another edition of the CBT News Market Update. To quickly recap this week’s numbers, the retail SAAR came out to 12.7 million, up 2% from 12.4 million in 2019. New-vehicle sales hit 276,556, a modest 9.7% increase from last year when the number of units sold was 252,070. Used vehicles are on track to stay ahead of last year’s numbers. Used-vehicle sales sat at 197,883, up 9.1% from the year prior’s total of 181,324. As expected, inventory levels among all new vehicles were down 19.5% from 2019, however, used car inventory was up 6.1%. However, weekly trends show a slow and steady recovery.
In today’s segment, our panel breaks down the following:
- Are dealerships shying away from this technology now that inventory is more scarce?
- Is there still a push to reinvent the retail experience?
- How dealers should realign their goals
- How we see OEMs engaging customers differently and how their expectations of dealers have shifted
- How do Q3, August, and September results compare to what Del Grande Dealer Group has seen across its brands?
- The current shortage of ’21 models. Does this provide an opportunity for some brands to gain market share?
- How will the numbers of ’20s vs. ’21s impact the rest of the year?
Did you enjoy this week’s edition of the CBT News Market Update with Jason Knight and Doug Petersen? Please share your thoughts, comments, or questions regarding this topic with host Jim Fitzpatrick at firstname.lastname@example.org.