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As Memorial Day Approaches, Tight Vehicle Inventory Slows Auto Sales


As Memorial Day Approaches, Tight Vehicle Inventory Slows Auto Sales
- Cox Automotive forecast: U.S. auto sales in May to finish near 1.54 million units, well ahead of 2020 sales volume, down 3% from 2019.
- Sales pace forecast to fall to 16.5 million, down from last month s robust 18.5 million pace.
- Inventory issues: Days supply now down 71% from last year, 65% below 2019 levels.
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ATLANTA, May 26, 2021 /PRNewswire/  According to a forecast released today by Cox Automotive, automobile sales in the U.S. are expected to be healthy in May, but down from April s historic result. Sales are expected to finish at a seasonally adjusted annual rate (SAAR) of 16.5 million, with sales volume at 1.54 million. This is an improvement over last May s COVID impacted 12.1 million SAAR and volume of 1.12 million. Compared to 2019 a better measure to judge the market s recovery sales are expected to drop by approx ....

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SoFi Launches Auto Loan Refinancing Through Lantern


New Offering Adds Transparency to One of the Fastest Growing Categories of Consumer Debt
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SAN FRANCISCO–(BUSINESS WIRE)–SoFi announced today that transparent, competitive, and personalized auto loan refinancing offers are now available through Lantern, the financial services product comparison site owned and operated by SoFi, the digital personal finance company. SoFi launches auto loan refinancing in partnership with MotoRefi – an auto fintech startup on a mission to help people save money on their auto loans – to combine selection, speed, and convenience through its network of trusted lenders. This agile approach ensures borrowers have the opportunity to choose from a selection of competitive offers that fit their financial situation and goals, quickly. ....

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Cox Automotive December Forecast: Sales Pace Continues to Slow as 2020 Stumbles Across Finish Line


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ATLANTA, Dec. 22, 2020 /PRNewswire/  Boosted by year-end sales and extra selling days, light vehicle sales in the U.S. for December are expected to finish near 1.54 million, a 1.9% increase over last December. The gain is a bit misleading, however, as there are 28 shopping days this month, three more than last year and five more than last month. With that many extra days for vehicle shoppers to acquire new wheels, a volume increase is more than expected. When volume is viewed on a seasonally adjusted basis, the sales pace is forecast to fall to a 15.5 million seasonally adjusted annual rate (SAAR), down from last month and down nearly 7% from last December s 16.8 million pace. ....

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