Tuesday, January 26, 2021

The Weekly Automotive Market Minute for September 16, 2020

Welcome to the Weekly Automotive Market Minute with Bridget Fitzpatrick:

automotive marketThe retail SAAR of new car sales came out to 13.24 this week, a 4.1% dip from 13.81 in the previous year.

market updateInventory stock levels among all new vehicles were down 14.6% from 2019.

Used car stock count was up 13%.

New-vehicle sales hit 227,452, up 6.2% from last year when the inventory sold was 214,247.

automotive marketInventory count of used-vehicle sales sat at 181,446, a 5.9% increase from the year prior’s total of 171,323.

The cost of oil is up 2.46% this morning while the value of gold was up 0.44%. Average interest rates remain low at 3% 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.

soundcloudBe 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.

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.

Related Articles

Automotive Ventures CEO Steve Greenfield breaks down the major themes of 2020

On today’s show, we’re pleased to welcome Steve Greenfield, CEO and founder of Automotive Ventures. Greenfield specializes in advising founders, owners, and CEOs on...

The Legacy of J.D. Power III

The quality standard of vehicles has changed vastly since J.D. Power and Associates entered the industry in 1968. After more than 50 years of...

How Sonic Automotive and EchoPark plan to keep up their momentum in 2021 – Jeff Dyke, President

Sonic Automotive is coming off a strong year in 2020 as it set records in sales and expanded its EchoPark used-car stores. Today, we...

Latest Articles

Automotive Ventures CEO Steve Greenfield breaks down the major themes of 2020

On today’s show, we’re pleased to welcome Steve Greenfield, CEO and founder of Automotive Ventures. Greenfield specializes in advising founders, owners, and CEOs on...

The Legacy of J.D. Power III

The quality standard of vehicles has changed vastly since J.D. Power and Associates entered the industry in 1968. After more than 50 years of...

How Sonic Automotive and EchoPark plan to keep up their momentum in 2021 – Jeff Dyke, President

Sonic Automotive is coming off a strong year in 2020 as it set records in sales and expanded its EchoPark used-car stores. Today, we...

As semiconductor chip shortage deepens, new solutions come to light

A semiconductor chip shortage continues to vex the auto industry worldwide. Several factories across nameplates such as Ford, Subaru, Toyota, Volkswagen, Audi, Nissan, Chrysler, and...

Rethinking the test drive to unlock new revenue

There’s no doubt COVID-19 accelerated automotive retailers’ digitization efforts. Evolving consumer preferences for personalized, on-demand service that doesn’t require a dealership visit mean the retail environment now...