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automarket, the word that will likely sum up 2024 is “normalcy,” according to Cox Automotive’s Forecast: 2024. auto industry. automarket being steered by five key themes. Meanwhile, the used EV market is expected to be the fastest-growing segment of the wholesale/used-vehicle market.
According to the study, which analyzed more than 10 million 1- to 5-year-old used cars sold in 2018 and 2023, gray has gained four percentage points in those five years, rising from 15.2% of the market to 19.2%. automarket, representing 78.9% Since then, though, silver has fallen to 11.7% of vehicles – up from 77.2%
The analysis ranked markets on Realtor.com based on the combination of EV-friendly listings and the congestion index — the ratio of EVs and plug-in hybrids to public charging ports. of for-sale homes on Realtor.com in in 2018 to 0.9% In the San Jose market, the report said, one in five households has an EV and 4.9%
This indicates that dealers feel pressure to lower prices while still facing challenges in offering the value consumers expect, as incentives remain below 2018 and 2019 levels. Similarly, price pressure is down slightly from Q1 but remains high with an index score of 65, up from 58 a year ago.
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