Welcome to the Weekly Automotive Market Minute with Bridget Fitzpatrick:
This week’s retail SAAR of new car sales came out to 13.41, a small 1.7% increase from 13.34 in 2019.
Inventory stock levels among all new vehicles are down 17.6% from 2019.
Used-car stock count is up 11.5%.
New-vehicle sales hit 245,659 up 7.5% from last year when the inventory sold was 228,604.
Used vehicles continue to stay ahead of last year’s numbers. Used-vehicle sales sat at 200,175, a solid 14.4% increase from the year prior’s total of 174,978.
The Dow Jones was up 0.07% at opening bell this morning while the S&P 500 was down 0.36%. The NASDAQ composite index was also down 0.86%. Average interest rates remain low at 3.15%, 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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