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Used-Vehicle Sales Jump in February
Softening prices, rising credit availability and higher tax refunds could be behind February’s sales pace rise and accompanying dip in inventory, according to Cox Automotive.
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SEARCHMENUSEARCHSoftening prices, rising credit availability and higher tax refunds could be behind February’s sales pace rise and accompanying dip in inventory, according to Cox Automotive.
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Analysis of Xtime data showed increases in Repair Order Volume Index and the Repair Order Revenue Index.
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Sub-Compact Car reported the largest drop last week, down -0.75%. The prior week, the segment also had the largest decline for cars, with a decrease of -0.89%.
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Automaker earmarks $2 billion to building next-gen full-size pickups and SUVs, guaranteeing production of gas-powered vehicles into the 2030s.
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Modest increase still less than normally seen during spring selling season.
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US market leader to lose dominance to legacy carmakers, bank predicts.
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May supplies reached 1.96 million, well above a year earlier, though still under historical norms.
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Just one quarter of potential buyers say they would consider electric.
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CDK Global ease-of-purchase survey tracks change. Dealership inventories reaching normal levels as shoppers search for affordable options.
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Higher incentives, inventory drive demand as average price stays below MSRP.
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Declines continued throughout the entire market last week, with the exception of one segment, Sporty Car, which was up only +0.04%.
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