Welcome to the Weekly Automotive Market Minute with Bridget Fitzpatrick:
This week’s retail SAAR of new car sales came out to 13.06, a 0.8% dip from last year’s 13.17.
New-vehicle sales hit 246,628 up only 0.5% from last year when the inventory sold was 245,318.
Used vehicles were down from 2019 levels. The inventory of used-vehicle sales sat at 171,769, a 1.6% dip from last year’s total of 174,523.
Inventory levels among all new vehicles were down 9.0% from 2019.
Used car inventory, however, was up 16.5%.
The Dow Jones was up 0.60% at opening bell this morning while the S&P 500 was up 0.49%. Average interest rates remain low at 3.2%, and the average cost of gas is $2.24 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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