After edging higher for a couple of months, available supply dipped by the end of August.
Total Used Vehicle Sales Dip Again YOY in August
Tight vehicle inventory continues to vex the auto industry while high prices deter buyers.
Tight vehicle inventory continues to vex the auto industry while high prices deter buyers.
Despite lower production, there are more vehicles ready to be sold due to sales losing momentum since June.
Moderated by Jim Press, former COO of Toyota North America, experts from the commercial vehicle, fintech, and automotive investment sectors will discuss forward-thinking solutions at the 2021 Fleet Forward Conference.
A recent quarterly report from Haig Partners shows that buy-sell activity among auto dealerships has exploded, leading to "empty lots and overstuffed wallets."
As August opened, inventories were running 53% below 2020 levels and 68% below 2019 levels.
The current low-supply, high-demand situation means finding and buying a new vehicle may be a challenge.
High consumer demand and low inventories have allowed Ford to push average transaction prices to new highs.
Market watchers had been expecting this slowdown to come earlier in the summer, but deals could still be made. Now there just isn’t enough product available.
Today's video covers ongoing vehicle supply constraints in both the fleet and retail markets; upward pressure on fuel prices; and production slowdowns due to ongoing shortage of microchips impacting orders of 2021-MY vehicles.
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