Automotive advancements are a dish best served cold. This week, take a look at the new and used sales numbers from the end of 2019. Plus, see how incentive spending and new vehicle prices impacted a slow December.
FROM BUSINESS INSIDER: New Vehicle Sales in U.S. Fell 1.3% in 2019 but Still Healthy
New vehicle sales fell YOY but still managed to inch past the 17 million mark for the fifth year in a row, with a total of 17.05 million new cars, trucks and SUVs sold in 2019.
FROM AUTOMOTIVE NEWS: Market Slips 5.2% in Dec.; SAAR Slips Below 17M
A weak December left a significant mark on OEM sales numbers, while many brands hiked incentive spending to combat the slow month. Average spending per unit reached around $4,600, a 6.9% increase from 2018.
FROM AUTO REMARKETING: Current Estimate for 2019 Used-Car Sales: 40.4 Million
As the numbers roll in, analysts are predicting another record breaking year for used-car sales. With December 2019 sales clocking in around 3.06 million, and Q4 sales sitting at 9.51 million.
FROM THE NEW YORK TIMES: Low Rates, Cheap Gas and Deeper Debt Sustain Car Buying Boom
Although average new vehicle prices reached $37,183 per unit, pricey light trucks made up for two thirds of 2019’s automotive sales. Analysts believe consumers may have offset rising costs with manageable gas prices and longer loan borrowing terms.
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