Black Book: Weekly Market Report
The market continued to experience growth last week, with gains far exceeding what is typically seen this time of year.
The market continued to experience growth last week, with gains far exceeding what is typically seen this time of year.
Used-retail active listing volume index index sits at 0.99 points.
New Experian report shows average loan amount increases tapered off, while average terms decreased.
The first week of March started off as expected with sales rates continuing to increase across the country.
More cars are available, but record prices and rising interest rates will challenge customers.
Improved inventory levels and higher retailing cited for the sales boost.
Average manufacturer retail price nearly $50K, with some models exceeding six figures and $75K pickups the norm.
Automaker to pause production at Fort Wayne Assembly truck plant, which builds full-size trucks.
The automaker’s adjusted operating income from North America soared 23% to $14.8 billion.
Cox Automotive forecasts sales will increase nearly 4% from 2022 and from January 2023.
Now in week three of February, we continue to see the wholesale market improving.
According to EV-Volumes data, from Jose Pontes, five OEMs handled more than half of all EV sales.
Volkswagen AG reported its cash flow fell short of expectations as supply chain snags led to higher unsold inventory at year’s end.
The reduction in weekly depreciation that started a couple of weeks ago continued again last week, with the market reporting the lowest overall depreciation we have seen since the end of June 2022.
Dealers report elevated prices, a lack of affordable vehicle models, and higher interest rates are pricing many consumers out of new cars.
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