Welcome to the Weekly Automotive Market Minute with Bridget Fitzpatrick:
The retail SAAR of new car sales came out to 12.13 this week, almost identical with last year’s number with only a 0.1% dip from 12.14.
Inventory levels among all new vehicles were down 15.9% from 2019.
New-vehicle sales sat at 229,319 slightly down 1.6% from last year when the inventory sold was 232,923.
Used vehicles continue to stay on pace with last year’s numbers. Used-vehicle sales came out to 186,451, up 1% from the year prior’s total of 184,538.
In addition, used car inventory was up 12.8%.
The Dow Jones was down 0.8% at opening bell this morning while the S&P 500 was down 2.06% and the Nasdaq composite index was up 2.62%. Average interest rates remain low at 3.09%, and the average cost of gas is $2.15 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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