Topic: used vehicles
In the August edition of the CarGurus Vehicle Availability Index & Insights Report, Director of Industry Insights & Analytics Kevin Roberts provides a glimpse at the latest trends impacting inventory and pricing, which he’ll dive into in-depth at Navigate.
August had been pegged as a potential turning point for the ongoing inventory shortage – however, as has been quite common on this journey, the expectation was accurate but not in the ways that were anticipated.
For what feels like the umpteenth time, new inventory levels dropped further with the new Vehicle Availability Index reading for August coming in at 23.3, a drop of 13.4% from July and down over 64% from last year. There was hope that August could become an inflection point – however, we continued to see further plant shutdowns due to a lack of silicon, and now the prospects for new sales for the rest of the year continue to dim with the reality that tight inventory will last well into 2022.