Article Highlights

1. ECONOMIC INDICATORS: The economy grew a robust 4.1% in the second quarter and consumer spending on autos increased likely due to a sense of urgency to buy ahead of potential import taxes. The second half of the year should deliver a solid but slower 3% growth.
2. DEMAND: New vehicle sales decreased 3% YOY and Used vehicle sales increased by 3% YOY.
3. SUPPLY: The days’ supply for July was 65, down 3 days YOY and down 3 days from June.