Welcome to another edition of the CBT News Market Update. To quickly recap this week’s numbers, the retail SAAR of new car sales came out to 12.31, a 2.9% dip from 12.69 in 2019. New vehicle sales hit 256,973, slightly up 3.8% from last year when the inventory sold was 247,504. Used vehicles continue to stay on pace with last year’s numbers. The inventory of used-vehicle sales sat at 179,651, up 5% from the year prior’s total of 171,304. Inventory levels among all new vehicles were down 11.4% from 2019. Used car inventory levels, however, were up 15.4%.
Here to break down these sales results and how these numbers reflect larger industry trends are Mark Conner, Chief Retail Strategy Officer at LotLinx, and Brian Benstock, Partner GM and VP at Paragon Honda and Paragon Acura.
In today’s segment, our panel breaks down the following:
- Do you see trends this holiday season being the same as in past years?
- If COVID causes more interruption to business in the next couple of months, how do you see your preparedness and your fellow dealers adapting to these interruptions?
- How do you remain authentic and stand out with holiday advertising?
- Which holiday strategies see the most success?
- Has per-vehicle profitability shifted at your store from summer to the holiday season?
Did you enjoy this week’s edition of the CBT News Market Update with Phil Sura and Mark Conner? Please share your thoughts, comments, or questions regarding this topic with host Jim Fitzpatrick at firstname.lastname@example.org.