June 2022 Automotive Market Update:
- The overall market continued to increase last week, but the rate of gains slowed.
- All Luxury segments returned to negative territory last week with the Full-Size Luxury Crossover/SUV and Premium Sporty Cars reporting the largest declines.
- Used Retail Listing Volume has increased above the 1.00 line to approximately 1.02 for essentially the first time since the beginning of February.
- As we head towards the summer months, closed sales are expected to remain a popular means for OEMs to get available inventory to franchise dealerships, leaving others to compete for the picked over vehicles, at least until new model year launches are underway.
- Positive movement but some of the segments that have been catching our eye in recent weeks (Full-Size Trucks and Compact Cars) for their pricing movements are now doing so for different reasons.
- Full-Size Pickups moved back into negative territory with a very slight decline of -0.002%.
- As for Compact Cars, the rate of gain was the lowest we have seen since the segment went positive (0.33%) the week of March 21.
- Used Retail Listing Volume has increased to just over 1.03 for the first time since mid-January.
- The Used Retail Days-to-Turn Estimate has increased to approximately 36 days.
