LotLinx Weekly News Vol. 201: The Auto Sector is Going Head-to-Head for Sales Gold

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.

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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.

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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.

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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.

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