The Weekly Automotive Market Minute for October 14, 2020

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Welcome to the Weekly Automotive Market Minute with Jim Fitzpatrick:

automotive market

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.

market updateInventory levels among all new vehicles were down 16.4% from 2019.

market updateNew-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.

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