LotLinx Weekly News Vol. 217: Measure Twice, Sell Once…

FROM JUST AUTO: U.S. Light Vehicle Market Down 29% In May

May 2022 sales volume totaled 1.1 million units, a 29% year over year decline. Thus far, accumulated sales for 2022 have dropped 19%, settling at 5.65 million units.

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FROM CBT NEWS: Suppliers Get Creative to Battle Raw Materials and Semiconductor Shortages

The Ukraine war has led to material shortages of carbon black, platinum, and rhodium, key inputs in tire and catalytic converter production. To combat, suppliers are redesigning vehicle components and altering production strategies.

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FROM AUTOMOTIVE NEWS: Wholesale Used-Vehicle Prices Ticked up Slightly in May, Manheim Says

May wholesale used-vehicle prices grew almost 10% year over year while supply settled at 24 days, an increase from 19 days in 2021. In the same time, retail used-vehicle supply slipped to 44 days – falling just below 49 days in April.

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FROM AUTO REMARKETING: Top 10 New Vehicles Leased in Q1

Michigan came out on top of new-vehicle leases during the first quarter with 61.5% of sales financing originating through a lease. New York and New Jersey fell close behind, with 56.5% and 53.5% respectively.

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