Welcome to the Weekly Automotive Market Minute with Jim Fitzpatrick:
The retail SAAR of new car sales came out to 12.56 this week, only 0.6% higher than last year’s number of 12.49.
Inventory levels among all new vehicles were down 16.4% from 2019.
New-vehicle sales hit 206,143 only 1.1% lower than last year when the inventory sold was 208,462.
Used-vehicle sales sat at 181,299, a 6.6% jump from the year prior’s total of 170,096.
Used-vehicle inventory was up 12.3%.
The cost of oil is up 1.59% while gold was up 1.0%. Average interest rates remain low at 3.08%, and the average cost of gas is $2.18 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.
Be sure to follow us on Facebook and Twitter to stay up to date or catch-up on all of our podcasts on demand.
While you’re here, don’t forget to subscribe to our email newsletter for all the latest auto industry news from CBT News.
