Auto Insider Report
Report Introduction & Methodology
The Auto Insider Report August 2017 is our analysis and insight of the current state of the automotive industry.
This report is based on hundreds of millions of data points collected daily on nearly 100% of new cars on dealers’ lots – over 4 million cars (and counting) – across nearly all makes and models. This level of real time market intelligence is unprecedented in our industry and unique to Carjojo’s technology. The aim of our report is to highlight key industry trends – days, even weeks – before any other source is made public. Here we’ll highlight automotive sales and inventory month-to-month. All data is based on dealer inventory counts and vehicles sold by dealers.
If you have any questions or comments about this report, please feel free to contact us at email@example.com.
Thank you and enjoy,
– Carjojo Team
Year-over-year, August Sales Down Over Eight Percent – 100,000 Less New Vehicles Sold
Selling days exclude Sundays and holidays and there were 27 selling days last month versus 26 in August 2016.
Total inventory counts compared to this time last year were down by nearly five percent, and arriving inventory for the month was down over 20 percent when compared to the nearly 1.3 million units that arrived in August 2016.
Month-over-month did not tell much of a different story. Despite the mostly flat sales results for July, August saw over 120,000 less units sold, a sales decrease of nearly 10 percent.
Arriving inventory levels were down by nearly four percent and total inventory levels for dealerships across the country were down by over two percent compared to July.
The slowing sales trend, coupled with the relatively steady inventory levels, means more dealerships are sitting on old makes and models that they need to move in order to make room for the 2018’s. With the Labor Day holiday coming this weekend, dealerships are hoping for strong sales results to correct the inventory counts on their lots.
Historically, Labor Day is one of the most shopped weekends for new cars, and with sales incentives and discounts offered through the first week of September, dealerships need a strong buyer turnout this weekend to correct inventory counts but also to kick off what will hopefully be a better sales month compared to July and August.
September sales, although projected to show another loss, need to be strong to round out a tough third quarter.
Record Lows For Chrysler, Dodge And Jeep Sales
With fallout numbers in June, where Chrysler, Dodge and Jeep sold 18 percent, 25 percent and nine percent less vehicles, respectively, from May to June, July sales were not good,
Like most brands in July, Chrysler, Dodge and Jeep had what was categorically an across-the-board slow sales month – with eight percent, 4 percent and six percent less units sold, respectively, from June to July.
In August, Chrysler sold 22 percent less vehicles than they did in July, Dodge sold 19 percent less and Jeep sold 11 percent less. In total, that was the difference of 12,142 less Chryslers, Dodges and Jeeps sold in August than what was sold in July.
Year-over-year sales results for the three Fiat-owned brands also tells a grim story. Compared to sales in August 2016, Chrysler sold 7,507 less vehicles last month, Dodge sold 10,588 less and Jeep sold 14,896 less when compared to how many vehicles they sold this time last year.
General Motors Holds Strong, Despite a Bad Sales Month for Most
Despite sales being flat or down for most major brands in August, Buick, Cadillac, Chevrolet and GMC held their own last month.
Buick sales were up nearly five percent, which meant they sold 825 more units in August than they did in July. Similarly, Chevrolet saw a four percent sales increase, which equated to 6,655 more vehicles sold in August than what was sold in July.
Cadillac and GMC both sold a respectable two percent less from July to August, which equated to the difference of less than 900 vehicles.
The Brands with the Biggest Losses in August
In order, the three brands with the biggest sale losses month-over-month were Mitsubishi, Nissan and Fiat.
- Mitsubishi sold 1,722 less vehicles in August than they did in July, resulting in an August sales loss of nearly 28 percent.
- Nissan sold 19,749 less vehicles in August when compared to sale results in July, for a difference of nearly 27 percent.
- And, Fiat sold nearly 500 less vehicles in August compared to sales in July, which meant a sales difference of nearly 26 percent.
A comparative analysis for these three brands year-over-year also shows a loss. Mitsubishi sales last month compared to August 2016 were down 11 percent, Nissan sales were down nearly 21 percent and Fiat was down nearly 40 percent when compared to sales this time last year.
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