The Industrial Production of Auto Parts and Allied Goods was down for the fourth month in a row, at 109.39 in August 2022.
Ever since the lockdowns, e-commerce has been far above the long-term trend.
This is the fifth month in a row that the total came in at less than 14 million.
When measured by the 12-month moving average of VMT, June’s numbers were down 0.2% compared to May.
According to the Census Bureau, spending at auto parts, accessory and tire stores in June was up 11.1% over June 2021.
The Mannheim Used Vehicle Value Index declined by 0.1% from June to July.
Despite dropping in recent weeks, diesel is still up 68% over the past 12 months.
Engine oil, antifreeze and oil filters were among the most common products kept in stock.
In 2021, 35.7% of new car dealerships operated an on-site body shop, according to NADA.
The Auto Care Association/AASA Joint Channel Forecast shares the forecast for 2023 as well.
Hankook Tire Gauge Index takes a closer look at the effects of current economic environment on when and why Americans drive.
Another way to measure effects of the chip shortage and supply-chain issues is to look at the Inventory to Sales ratio.