This week isn’t going easy on the automotive advancements. Read more to find out how industrial production and national retail sales fluctuated last month, and which off-lease models are landing on everyone’s wish lists. Plus, see why dealers are starting to warm up to vehicle interest rates.
FROM AUTOMOTIVE NEWS: High Interest Rates Fall From Dealers’ Worry List
Dealers are in good spirits when it comes to interest rates, with only 9% concerned they are holding business back. According to a recent survey, falling benchmark rates and increased incentive spending has caused dealer worry to decrease 29% from this time last year.
FROM AUTO REMARKETING: Off-Lease Volume, New-Car Prices Among Dynamics Creating Attractive Used-Car Market
Off-lease volume vehicles are dominating consumer demand, with units under four years old making up 68% of used car sales. And, in a turn of seasonal magic, the number of high-tech trucks and SUVs coming off lease is outpacing the number of car returns for the very first time.
FROM REUTERS: U.S. Retail Sales Rise Less Than Expected in November
Auto sales aren’t home alone: due to a decrease in consumer spending, last month’s moderate 0.5% increase is in good company with national trends. Overall U.S. retail sales inched up only 0.2%, while online retail sales outpaced October with a 0.8% gain.
FROM BUSINESS INSIDER: U.S. Industrial Production Snaps Back, Rises 1.1% in November
Industrial production is back on the nice list: after a 0.9% drop in October, the industry saw the largest boost in over two years thanks in part to a 12.4% monthly increase in car, truck, and auto part production.