The average listing price reached $25,500 as July closed, after surpassing the $25,000 mark for the first time ever in June.
Near-record low new-vehicle inventory and record-high prices will keep certified pre-owned units as very attractive alternatives.
As August opened, inventories were running 53% below 2020 levels and 68% below 2019 levels.
Large rental, commercial, and government purchases of new vehicles increased 6% compared to this time in 2020, but decreased by 40% from the same time in 2019.
The Bolt EV saw a 335% sales increase in July to its highest volume ever in a second quarter at 10,857 units.
The digital platform enables consumers to transact 100% online.
Chip shortages and surging demand are squeezing used vehicle sales while inflating prices.
James Davis, customer strategy and insight director (commercial vehicles) for Cox Automotive Europe, passed on July 11, 2021. He was 47 years old. In this position, Davis assumed an industry thought leadership role that involved building, sustaining, and evolving deep long-term open trust relationships with customers, business partners, suppliers, and industry bodies.
Cox Automotive Analysis: Fleet sales are still stuck in first gear, estimated to have increased by only 5% year over year but remain down by more than 40% from 2019.
Cox Automotive Commentary: The third quarter will be the industry’s toughest in 2021, and our analysts are forecasting second-half sales to finish below first half.
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