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Black Book: Weekly Market Updates
Wholesale prices remain strong, however there are signs of softening in the market this week, as prices of newer used vehicles seem to be hitting a ceiling.
Wholesale prices remain strong, however there are signs of softening in the market this week, as prices of newer used vehicles seem to be hitting a ceiling.
The estimated average transaction price for a light vehicle in the United States was $41,263 in May 2021, according to the analysts at Kelley Blue Book.
A majority of dealership leaders – approximately 65% – report they plan to increase the total number of employees in the dealership this year.
Retail sales dropped 1.3% in May, following a 0.9% gain in April, reported the U.S. Department of Commerce.
The May Retention Index showed another increase and broke yet another record, reaching 159.6 points, a 7.1 point (or 4.7%) increase from April (152.4).
President Biden assigned the task force to develop responses for near-term supply challenges in key industries.
The bill earmarks $52 billion to help domestic semiconductor manufacturers expand production.
All nine car segments reported gains last week, however, 0.8% is the lowest weekly gain the overall car segment has seen in 15-weeks.
Programs from Lexus, Kia shine brightest among CPO offerings this year.
Wholesale used vehicle prices have increased 37% over the past 20 weeks and used retail prices rose 15% since the end of 2020.
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