The Weekly Automotive Market Update for August 5, 2020

August 5, 2020

Welcome to the Weekly Automotive Market Update with Bridget Fitzpatrick:

This week, new car sales came out to a retail SAAR of 11.45, down 12.5 percent from 13.48 in 2019.

The inventory of new vehicles sold was 260,021 a 16.8 percent drop from this time last year.

Used-car sales continue to outpace last year’s numbers. Used-vehicle sales were up to 206,468, a 2.8 percent increase from last year’s number of 200,910.

Inventory stock levels among all new vehicles were down 22 percent from 2019, while used car levels were up 3.2 percent

The Dow Jones was up 0.71 percent at opening bell this morning, the S&P 500 is up 0.36 percent, and the average cost of gas is $2.18 per gallon.

For more detailed information, check out the CBT News Market Center powered by LotLinx.

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 Monday. You can share your thoughts, comments, or questions regarding this topic with host Jim Fitzpatrick at jfitzpatrick@cbtnews.com.

Be sure to follow us on Facebook and Twitter to stay up to date or catch-up on all of our podcasts on demand.

While you’re here, don’t forget to subscribe to our email newsletter for all the latest auto industry news from CBT News.

RELATED ARTICLESMORE FROM AUTHOR

Trump’s 25% auto tariffs set to impact $460 billion in imports, parts tariff begins May 3

Ford slashes prices with ‘From America for America’ discount plan amid tariff impact

Tesla experiences 13% decline in Q1 2025 vehicle deliveries

Hyundai unveils second-generation NEXO fuel cell electric vehicle

AIADA’s Cody Lusk on the new 25% tariffs on imported autos

FOLLOW US

RELATED ARTICLES MORE FROM AUTHOR