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
Kia Closes Out Summer With a Bang
Its U.S. subsidiary broke multiple records in August, in part due to a surge of demand for hybrids models.
Read More →
Indiana Dealership Changes Hands
A 30-year-old Ford dealership in Indiana has a new owner and will soon be undergoing renovations to meet manufacturer requirements.
Read More →
Texas Dealership No Longer in the Family
The Ford store, a longtime cornerstone of the Houston market, is now part of one of the fastest-growing U.S. auto groups.
Read More →
Genesis Grows California Presence
The Cardinale Automotive Group opened its third Genesis rooftop in the Golden State, Genesis of San Bruno, a stand-alone dealership serving the San Francisco Bay Area.
Read More →
August Auto Sales a Mixed Bag
An early forecast shows strong business despite consumer hurdles, and hybrids are a big piece of their affordability coping strategy.
Read More →
EV Market Humming Along
July sales show steady growth as the segment stabilizes from last year’s artificial surge following pullback of federal support.
Read More →
Auto Loan Delinquency Rates Stabilize
Auto loans are a main driver of nonmortgage consumer debt, but delinquency rates stabilized in the second quarter across all credit risk tiers.
Read More →
EV Sales Recover in Q2
The EV sales roller coaster continues as numbers show improvement, but industry experts predict a year-over-year third-quarter decline and fourth-quarter jump.
Read More →
The Cheapest Hybrids to Fuel
The powertrain is increasing in popularity, in no small part due to its fuel economy. A new report lists the most efficient hybrids on the market.
Read More →
Hybrids and SUVs Gaining Ground
The most recent Kelley Blue Book Brand Watch found that only two nonluxury brands increased in shopper consideration, buoyed by their hybrid and SUV offerings.
Read More →