FROM REUTERS: Supply Constraints to Slow U.S. Auto Sales Growth in June
June retail sales are expected to reach 1.1 million units, a 12.4% increase from 2020 but a smaller jump than previously forecast.
FROM BLOOMBERG: Used-Car Prices Are Poised to Peak in U.S. After Pandemic Surge
Wholesale vehicle price increases are decelerating, up only 36% year over year compared to April’s 50%. Used retail prices are expected to follow suit in the weeks to come.
FROM CNET: Average New Car Price Absurdity Continues, Blasts Past $40,000
This month, average new car transaction prices have risen $1,667 per unit, a 15% increase year over year. Meanwhile, incentive spending has slipped 6%.
FROM CNBC: Warren Buffett Says the Pandemic Has Had an ‘Extremely Uneven’ Impact and Is Not Yet Over
The investor shares his thoughts on the unprecedented success in the automotive industry and the importance of preparing for future changes in the marketplace.