📈 May 2023 sees an expected 20.3% surge in new vehicle sales, hitting 1.35 million units, thanks to enhanced inventory levels and robust fleet sales momentum. 🤯
🛡️ Despite the drop from April's 15.9 million SAAR to 14.9 million in May, the market exhibits resilience amid affordability issues attributed to high-interest rates and elevated vehicle prices. 💰
🚀 With improved inventory levels satiating pent-up demand, market dynamics shift from supply to demand.
Against the backdrop, average transaction prices continue to rise, reaching a record high of $45,838 in May, and fleet sales anticipate a 50% YoY rise. 🚐🚐🚐🚐🚐
🧾 Despite economic headwinds, overall sales volume receives support from increased incentives and fleet volume.