Wednesday, January 27, 2021

The Weekly Automotive Market Minute for January 13, 2020

Welcome to the Weekly Automotive Market Minute with Bridget Fitzpatrick:

This week’s retail SAAR of new car sales came out to 14.1, a 4.1% increase from last year’s 13.52.

New-vehicle sales sat at 227,667 a significant 23.1% improvement from last year when the inventory sold was 184,969.

Used vehicle sales were up compared to last year’s numbers, as used sales came out to 195,259, a 3.4% jump from the year prior’s total of 188,880.

market updateNew vehicle inventory was down 8.6% from this time last year.

Used car inventory, however, was up 18.2%.

The Dow Jones was down 0.09% at opening bell this morning while the S&P 500 was also down 0.02%. Average interest rates remain low at 2.9%, and the average cost of gas is $2.35 per gallon.

For more detailed information about the automotive market, check out the CBT News Market Center powered by LotLinx.


Did you enjoy this installment of the Weekly Automotive Market Minute? You can share your thoughts, comments, or questions regarding this topic with host Jim Fitzpatrick at jfitzpatrick@cbtnews.com. Be sure to stay tuned for this Monday’s full-length market update.

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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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