CarGurus Reports October Gains in Auto Demand -- Market Talk

Dow Jones11-12

1248 ET - Consumer demand for new and used vehicles rose in October following declines the month before, according to the latest monthly data from the digital auto retail platform CarGurus. Used vehicle demand was up 5% from September and 6% year-over-year, while new car demand jumped 4% sequentially and 8% year-over-year. Used vehicle inventory showed signs of stabilizing during the quarter too, the report says, adding that part of the rise in used auto demand came from a growing supply of certified pre-owned vehicles. Used vehicles are spending less time on the lot as their prices and inventory have improved, CarGurus' Kevin Roberts says. (dean.seal@wsj.com)

(END) Dow Jones Newswires

November 11, 2024 12:48 ET (17:48 GMT)

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Used vehicle inventory showed signs of stabilizing during the quarter too, the report says, adding that part of the rise in used auto demand came from a growing supply of certified pre-owned vehicles. Used vehicles are spending less time on the lot as their prices and inventory have improved, CarGurus' Kevin Roberts says. 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Used ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0198837287.USD","symbol_name":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2482530807","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2482530807","pubTimestamp":1731347280,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1248 ET - Consumer demand for new and used vehicles rose in October following declines the month before, according to the latest monthly data from the digital auto retail platform CarGurus. 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Used vehicle demand was up 5% from September and 6% year-over-year, while new car demand jumped 4% sequentially and 8% year-over-year. Used vehicle inventory showed signs of stabilizing during the quarter too, the report says, adding that part of the rise in used auto demand came from a growing supply of certified pre-owned vehicles. Used vehicles are spending less time on the lot as their prices and inventory have improved, CarGurus' Kevin Roberts says. 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