FROM AUTOMOTIVE NEWS: U.S. vehicle inventories at highest point since June 2021
Inventory levels are up over 500,000 units year-over-year and 90,000 units month-over-month to make up a 42-day supply. Full-size pickups and luxury cars are leading the growth, while midsize and compact car stocks remain tight.
FROM AUTO REMARKETING: Expectations for wholesale vehicle volumes by consignor segment
Wholesale inventory levels are expected to stay at 9.5 million units, a 7% decrease year-over-year and a significant fall from 2019’s 13.1 million unit high. A lack of off-lease vehicles is the largest contributor to this decline, with return rates at a historic 9%.
FROM BUSINESS INSIDER: The US economy is still running on a post-COVID sugar high that’s about to run out
Analysts expect a nation-wide financial shift to impact consumer behavior in the months to come. Pandemic-era money is running out, interest rates continue to rise, and the growing job market is cooling off, altogether decreasing the average citizen’s disposable personal income.
FROM CNBC: New cars are still selling for over MSRP
New vehicles have been selling above MSRP for 16 consecutive months, but consumers are becoming less comfortable settling for this price point as their inventory options increase and their financial flexibility decreases.
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