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5/4/2021 Weekly Market Updates

Email sent: May 4, 2021 10:20am
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Issue 316 | 5.4.2021

5/4/2021 Market Update

Here is a quick recap of industry related headlines over the last week:

  • Wholesale values continue to rise, but the rate of increase is shrinking each week.
  • The global microchip shortage has now idled Ford plants in Mexico.  General Motors is also being forced to idle production of one of their top-selling models, the Equinox, at its manufacturing facility in Ontario for two months. Toyota had to halt Rav4 and Lexus RX production at their facility in Ontario due to a COVID-19 outbreak at a supplier’s plant.
  • Current used retail listing volume is about 15% below the start of the year, but the inventory levels stabilized in the last 4 weeks.
  • With the ongoing new inventory shortage, the availability of used units is expected to remain tight throughout the summer, especially with rental and fleet companies holding their units in service longer

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Read this week’s report to find out more

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