A midyear National Automobile Dealers Association report on new-car business shows a still-robust period for retailers, despite continued manufacturing challenges that have narrowed supply and are forecasted to continue.
Despite inflation pressures, consumer demand for new cars and for service remained steady, the NADA data indicate.
The average U.S. new-car dealership total sales in the first six months of the year were at $36.9 million, slightly up from a year earlier. New-vehicle sales were down from 54.6% of sales dollars a year earlier to 48.7%, while used-vehicle sales rose slightly from a 34.9% share to 39.7%. Service and parts sales dollars also increased, from 10.6% to 11.7%.
Though new-vehicle sales prices jumped, fewer cars were sold due to inventory shortages. The new-vehicle sales average volume and price were 404 and $45,646, compared to 498 and $40,232 a year earlier.