Recent CBT News MarketCenter powered by LotLinx data has found that the 2020 SAAR as of July 14, 2020, is 11,217,969 units, compared to 13,127,953 at this time last year. Sales for new vehicles are currently at 163,109 compared to last year’s level at 230,018, which makes a 29 percent year over year decrease. Used car sales, on the other hand, come in at 167,876 vs 180,000 in 2019; only a seven percent year over year decrease.
Here to discuss these sales numbers and inventory data trends on the CBT News Market Update are Len Short, Chairman and CEO of LotLinx and David Rymarz, Vice President of data insights for KAR Global.
“We’ve been seeing nationally over the past couple of weeks the volume of buyers and the intent of purchase, or the engagement rate drifting down since the end of June,” says Len. “That train is accelerating a little this past week. It all points to not a terrible summer, but some headwinds here over the lazy days of July and August.”
To hear more great market insights from Len Short and David Rymarz, be sure to watch our entire interview above.
Did you enjoy the second 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 email@example.com.