Posts by Kevin Roberts
As vehicle availability continues to challenge both dealers and shoppers, CarGurus is happy to introduce a new monthly report from our Director of Industry Insights & Analytics, Kevin Roberts. The Vehicle Availability Index & Insights report will deliver his in-depth research and outlook for coming months.
The US auto industry continues to be buffeted by COVID-19, though not as directly as we witnessed last year. The lack of available semi-conductors is creating major hurdles for OEMs, suppliers, and dealers as Q2 production plans have been further impacted.
New inventory levels remain impacted not only by limited production, but also by a historically high level of consumer demand for new vehicles. This surge in private mobility appetite has increased sales, and coupled with production constraints, further reduced inventory availability. The CarGurus Vehicle Availability Index dropped to 36.8 for new vehicles, a decline of 51.9% compared to last year. However, we witnessed a promising sign with used inventory holding steady at 88.2, a slight increase of 4.3% year-over-year.