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.
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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