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National Trend Update: Moved Vehicles Still Positive Despite Falling Inventory
National Trend Update: Moved vehicles still positive despite falling inventory.
1 min read
National Trend Update: States Are Seeing Weekly Double-Digit Growth
National vehicle sales are trending up from last week but are still down -20% YOY. The last 7-over-7 day comparison shows total moved vehicles up +17% with new and used cars rebounding.
Our data shows that even the states that were most affected by executive orders are now seeing double digit growth.
|
State
|
7/7
|
|---|---|
|
National
|
+26.1%
|
|
Pennsylvania
|
+214.0%
|
|
Michigan
|
+48.7%
|
|
New York
|
+26.9%
|
|
New Jersey
|
+34.0%
|
Texas moved vehicles are trending upward and are +37% over 2019 numbers.
This trend started on April 5th as vehicle activity began moving towards 2019 sales levels. This trend is expected to continue moving upward as states across the nation loosen stay-at-home orders and allow more non-essential businesses to open their doors.
While Texas didn’t have statewide executive orders in place, they did see a downward trend which dipped below 2019 levels. This small valley bounced right back up within days returning above 2019 levels and continuing to trend up.
The industry still has a lot of ground to make up to be at pre-COVID sales levels, but even the states with those biggest drops are coming back quickly as dealers across the nation find ways to sell digitally and open up showrooms in a way that follows CDC safety guidelines.
|
State
|
YOY
|
|---|---|
|
National
|
-27.1%
|
|
Michigan
|
-75.9%
|
|
New York
|
-65.2%
|
|
New Jersey
|
-70.3%
|
|
Pennsylvania
|
-82.5%
|
Many dealerships are proactively developing marketing plans for when the economy opens back up.
Year-over-year sales are moving up significantly and shopping behavior is beginning to increase. There is still demand for vehicles on lots, consumers are looking for deals and states are loosening restrictions on sales. In preparation for executive orders to be rescinded, you should have a plan in place ready to turn on at a moment’s notice.
National Trend Update: The Northeast Is Seeing Double-Digit Growth And Shopping Is Up Nearly +5%
National Trend Update: The northeast is seeing double-digit growth and shopping is up nearly +5%
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National Trend Update: Shopping Is Positive And Dealers Are Still Making Incredible Profits
National Trend Update: Shopping is positive and dealers are still making incredible profits. 7-over-7...