Welcome to the Weekly Automotive Market Minute with Bridget Fitzpatrick:
The retail SAAR of new car sales came out to 13.24 this week, a 4.1% dip from 13.81 in the previous year.
Inventory 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.
Inventory 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.
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 firstname.lastname@example.org. Be sure to stay tuned for this Monday’s full-length market update.