FROM AUTOMOTIVE NEWS: Hyundai, Kia Set Monthly Records on Strong Retail Volume
May sales results are still trickling in, but the predicted 16.2 million SAAR is a notable dip from April. New vehicle supplies were down to 1.95 million units for the month, causing average transaction prices to rise 3.1%.
FROM FORBES: Used Vehicle Pricing Hits Bizarre Levels
In a continuing trend, wholesale pricing has now jumped anywhere from 15%-25%, causing the average used-vehicle transaction price to surpass $22,000 for the first time ever.
FROM AUTO REMARKETING: Used-Car Sales Likely up 13% From May 2020
On the used-vehicle sales front, analysts are predicting both year-over-year and month-over-month jumps due to a major lack of new-car inventory.
FROM WARDSAUTO: Local Car Dealers Urged to Sell Long-Distance
In an effort to move the unconventional inventory they’ve acquired, progressive dealers are expanding their market reach by promoting units directly to consumers regardless of geographic location.