Retail sales in major parts of the automotive industry increased above 2020 levels by the end of the third quarter of 2021, according to DesRosiers Automotive Consultants (DAC).
“Despite difficulties in supply chains and a host of other challenges, the automotive industry remains a strong source of revenue generation,” said Andrew King, Managing Partner of DAC. “Demand in the industry appears to be strong, which bodes well for the sales outlook once the semiconductor issue ameliorates.”
Used car dealers experienced a growth in retail sales of 25.9% compared to the same time last year, thanks largely to a hot market that continues to see prices increase as inventory issues persist. New car dealers saw retail sales rise 24.1%.
Gasoline stations and other motor vehicle dealers noted increases of 21.1% and 20.8%, respectively. And DAC said aftermarket stores saw their retail sales rise 14.7%. All categories except gasoline stations recorded sales by the end of September that were above their respective pre-pandemic levels.
