FROM BLOOMBERG: U.S. Retail Sales Rise Most in 10 Months in Broad-Based Rebound
National retail sales increased 3.8% last month, with the auto sector contributing a 5.7% boost. The improvement comes as a bit of a surprise following a -2.5% dip in December 2021.
FROM AUTOREMARKETING: Black Book Sees Something Cooking as Values Keep Dropping
Week-over-week wholesale values continue to decline at an accelerated pace, dropping 0.67% last week. The car segment seems to be bearing the brunt of the declines as the competition for quality units heats up.
FROM CNBC: Electric Vehicles Dominated Super Bowl Ads, but Are Still Only 9% Of Passenger Car Sales
EV promotion is at an all-time high, yet electric vehicles make up only 9% of global sales and 4% of U.S. sales. Tesla, while notorious for a lack of advertising, still holds over 60% of the nation’s EV market.
FROM AUTOMOTIVE NEWS: U.S.-Canada Bridge Closure Cost Auto Industry Millions of Dollars
A 6-day bridge closure across the Detroit border has been the latest hit to automotive production, hindering parts transportation and causing slowdowns at plants.
Enjoyed this roundup? Subscribe to LotLinx News for weekly automotive industry updates direct to your inbox.
Want more top headlines? Catch up on past editions of LotLinx News.