Welcome to the Weekly Automotive Market Update with anchor Bridget Fitzpatrick. This week, new car sales ended up at a retail SAAR of 11.56 units, compared to 13.12 at this time last year. Inventory levels for new vehicles are currently at 254,706 as well which compares to last year’s level at 246,269.
While new car levels are up only slightly, many dealers are turning their focus to used car sales. Used inventory levels are currently at 227,820 compared to 176,951 this time last year. A staggering increase of 28.8 percent.
Did you miss last week’s CBT News Market Update? Watch it here now, and be sure to stay tuned for this week’s edition, coming Thursday.
Did you enjoy this market update? Please share your thoughts, comments, or questions regarding this topic with host Jim Fitzpatrick at firstname.lastname@example.org.