Inventories Dipped for 4th But Bounced Back Fast
Holiday shopping didn’t stop supplies from surpassing previous year highs.
July Fourth shopping results mirrored recent end-of-month sold inventory volume.
IMAGE: Pexels
Advertised dealer inventories took a hit over the July Fourth weekend, as expected, but quickly recovered, even surpassing the year-to-date high reached in June, S&P Global Mobility reported.
The holiday brought an inventory dip in advertised inventory, taking it from 1.843 million in mid-June to 1.761 million on July 3, S&P said. But it climbed back to 1.867 million by mid-July, exceeding the year’s high so far in mid-June.
July Fourth shopping results mirrored recent end-of-month sold inventory volume, S&P said.
Inventories started to recover this year from pandemic-fueled supply chain constraints that made new models scarcer, driving up prices for them and for used vehicles to unforeseen highs. The market has started to normalize as production moves closer to prepandemic volume.
Originally posted on Auto Dealer Today
More Industry
Missed Maintenance Creates Opportunity
As families get back on the road and into daily school routines, service drives have an opportunity to capture customers who are behind on recommended vehicle maintenance.
Read More →
Mitsubishi Unveils U.S. Plan
The automaker announced a strategy that includes an expanded lineup and dealership presence, along with more ‘rugged’ and electric models.
Read More →
Selling to Grow
The question of whether you should sell your agency and if so, when, is up to you. But it’s a question worth asking to ensure you keep the business on the right path for yourself, employees and clients.
Read More →
Recalled Vehicles Hit 5-Year High
Though the number of events has fallen so far this year, impacted units are up significantly. Meanwhile, regulators consider consumer notification changes.
Read More →
Auto Group Acquires Top-Performing Rooftop
Car Pros sold its Kia Huntington Beach location to Sutherlin Automotive Group, marking the buyer’s third location in Southern California.
Read More →
China as Pacesetter
Automotive leaders huddled on where North America stands in the global picture and how it can strengthen its position against the Asian juggernaut’s surging industry.
Read More →
BMW Concept Car Makes Fuel to Burn
The prototype developed in concert with a South Carolina university engineering team generates more solar energy than it uses in a typical daily commute.
Read More →
South Carolina Auto Group Downsizes
Florida-based group Holler-Classic has acquired four rooftops, its first in South Carolina, from Dick Smith Automotive Group.
Read More →
July Was Hot for Auto Borrowers
Credit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.
Read More →
Structure Leads to Optimized Auto Listings
As the average car-buying journey has shifted to a blend of digital and retail, a dealership’s vehicle listings must be optimized to answer shoppers’ questions clearly and accurately.
Read More →