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Domestic Automotive Brands have Rebuilt Strong Inventories ahead of a Potential UAW Strike
Domestic automotive brands have rebuilt strong inventories ahead of a potential UAW strike. Stellantis, in particular, currently holds 136 days of supply at Dodge, 125 at Chrysler, 115 at Ram, and 95 at Jeep. Historically,…
New Car Prices Remain Elevated despite the Rise in Interest Rates and Fears of Overproduction
In June 2023, the average price of a new car rose to $46,265, 5.8% over Jun-22 and 8.5% above MSRP. The strong demand for new vehicles and inflation has driven manufacturers to increase average MSRP…
New Home Listings Declined 30.6% in June 2023
In June, new home listings declined 30.6% year over year to its lowest level on record excluding April 2020. Homeowners remain hesitant to sell as the majority would incur a significantly higher interest rate on…
American Credit Card Debt Surpasses $1 Trillion
According to the Federal Reserve Bank of New York, Americans’ credit card debt levels have surpassed $1 trillion, a new record high. During the second quarter of 2023, credit card debt grew $45 billion to…
Used Cars Continue to Age, Leading to an Increased Demand in Vehicle Servicing
S&P Mobility recently reported that the average U.S. vehicle age hit an all-time high as consumers have been buying more used vehicles due to supply chain constraints and rising new vehicle prices. As a result…
