CBT News Market Update: Michael Tyman, Professional Success & Giovanna Scognamiglio, LotLinx

CBT News market update

The first half of September is behind us, and here is a quick recap of last week’s numbers. New car sales came out to a retail SAAR of 12.06 million, an 11.2% dip year over year. New-vehicle sales hit 265,482 slightly up 1.9% from this time last year when the inventory sold was 260,492. Used sales are up as well at 193,676, a 13.3% jump.

Industry analysts saw a big ramp-up of sales coming into the Labor Day weekend, however, for the west coast markets, fires certainly had an impact. Here to break down Labor Day sales results and how these numbers reflect larger industry trends is Giovanna Scognamiglio, Senior Vice President of West Coast Sales at LotLinx alongside Michael Tyman, Founder and CEO of Professional Success, Inc.

Here is what our panel covers:

  • Overall results of Labor Day Sales
  • How sales stacked up against predictions
  • How they compared to the previous years
  • What vehicles performed the best, new vs used, large vs small
  • How natural disasters and COVID have affected sales
  • The role inventory levels played in sales
  • What has helped new and used sales overall in this challenging market

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 with Neal Gann and Joe Langley? Please share your thoughts, comments, or questions regarding this topic with host Jim Fitzpatrick at jfitzpatrick@cbtnews.com.

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