First things first, June sales numbers are on the rebound. Read more to learn how OEMs are maintaining new car incentives, and why CPO might be the right option for hesitant buyers.
FROM WARDSAUTO: June Auto Sales Improve, but Just a Bit
Month over month sales are on the rise despite June inventory levels starting at a 9-year low. The current SAAR prediction sits at 12.9 million units, with used sales expected to reach around 34.1 million.
FROM REUTERS: Automakers Rev up Discounts to Beat Coronavirus Sales Blues
Incentive spending may be declining, but it’s not going anywhere soon. Per unit spending peaked in April around $5,000, while June spending per unit was closer to $4,441 – still a 12% increase year over year.
FROM CBT NEWS: Deloitte Survey Identifies Consumer Confidence Growing in U.S.
The bi-weekly State of the Consumer Survey shows economic anxieties are weakening in the U.S. and abroad. 37% fewer people are thinking of delaying large purchases, while 21% fewer consumers are depending on online retailing to do their shopping – both strong signs for the reopened auto market.
FROM AUTO REMARKETING: Shortage of New-Car Supply, Incentives Could Boost Lure of CPO
While new car inventory levels creep back to normal, car shoppers can ease their used-car hesitations by opting for newly off-lease CPOs. The pre-inspected units are around 33% cheaper than new vehicles and far less risky than used.