Tuesday’s business headlines
INDIANAPOLIS (WISH) – Here’s a look at Tuesday’s business headlines.
Simon
Indianapolis-based Simon Property Group saw sales at its shopping malls and outlet centers bounce back to pre-pandemic levels in its latest fiscal quarter.
CEO David Simon said that retail sales at the company’s properties during June were comparable to June 2019 levels, up 80% from a year earlier.
Simon is the biggest mall owner in the U.S.
It has 10 centers in Indiana, including Castleton Square, Circle Center, Greenwood and Hamilton Town Center in Noblesville.
Gas
Gas prices are rising as Americans plan for late summer road trips.
The nation’s average gas price rose 1.7 cents per gallon over the past week, nothing $3.16 per gallon, according to GasBuddy.
AAA says the current average in central Indiana is $3.14 a gallon.
Exxon Mobil
North America’s biggest oil company is not a big as it used to be.
Exxon Mobil production sank below 3.6 million barrels a day in the second quarter, the lowest since the 1999 merger.
Electric vehicles
Sales of nearly every type of new care are up but nothing is selling faster than electric vehicles – the combined total of electrics, hybrids and plug-in hybrids.
In the second quarter, total new vehicle sales were up 49% but electrified vehicle sales jumped 201% during that same time.