CBT News, April 26, 2023 – As the industry adapts to an unfamiliar automotive landscape, what new challenges will dealers need to face? On this episode of Inside Automotive, Brian Finkelmeyer, senior director of new car solutions at Cox Automotive, joins anchor Jim Fitzpatrick to discuss the most important takeaways from the last three months of automotive retail performance and what they signal for the future.
One of the chief observations made by Cox Automotive during the first quarter was the rapid return of new car inventory. “Total inventory is up about 70% from what it was a year ago,” explains Finkelmeyer. However, while this is an encouraging sign for dealers, he goes on to note that vehicle supply still lags behind pre-pandemic numbers by roughly 1.5 million units. Although some brands have outperformed others in terms of production, even companies that manage to provide steady shipments often see varying levels of availability between models.