Saturday, December 5, 2020

The Weekly Automotive Market Minute for August 12, 2020

Welcome to the Weekly Automotive Market Minute with Bridget Fitzpatrick:

market updateThis week, new car sales came out to a retail SAAR of 11.03, down 10.6% from 13.48 in 2019.

market updateThe inventory of new vehicles sold was 202,089 a 10.9% drop from this time last year when the inventory sold was 226,749.

Used-car sales continue to stay ahead of 2019 numbers. Inventory sold was up to 192,537, a 5.7% increase from last year’s number of 182,080.

market updateInventory stock levels among all new vehicles were down 21.4% from 2019.

Inventory stock levels for used-car were up 3.3%.

The Dow Jones was up 0.65% at opening bell this morning, and the S&P 500 is up 0.99%.

Average interest rates remain low at 3.08%, and the average cost of gas is $2.17 per gallon. For more detailed information, check out the CBT News Market Center powered by LotLinx.


Did you miss last week’s CBT News Market Update? Watch it here now, and be sure to stay tuned for this week’s edition, coming Monday. You can share your thoughts, comments, or questions regarding this topic with host Jim Fitzpatrick at jfitzpatrick@cbtnews.com.

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While you’re here, don’t forget to subscribe to our email newsletter for all the latest auto industry news from CBT News.

CBT News
CBT Automotive Network is a multimedia broadcast platform serving automotive professionals. With interviews featuring the biggest names in the industry, daily newscasts following top stories, up-to-date market data, and exclusive articles covering the latest industry trends, CBT is the leading voice of the retail automotive industry.

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