Article Highlights

1. ECONOMIC INDICATORS: Even with gas prices up 22% YOY, consumer sentiment remains close to a 14-year high. Demand should continue to be strong, but eventually higher rates and declining purchase power may slow down the pace of sales.
2. DEMAND: New vehicle retail sales volume decreased 7% YOY and Used vehicle sales decreased by 2% YOY.
3. SUPPLY: The days’ supply for April was 71, down 4 days YOY and up 3 days from March.