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automarket, the word that will likely sum up 2024 is “normalcy,” according to Cox Automotive’s Forecast: 2024. auto industry. “To name a few, we saw historic appreciation in vehicle values, unimagined drops in supply, and interest rates moving from all-time lows to 23-year highs at an unforgiving pace.
In fact, the 2024 Realtor.com Housing Market and ElectricVehicle Report found three of the top 10 and eight of the top 20 housing markets for EV ownership are in the Golden State. The San Jose-Sunnyvale-Santa Clara market ranked No. of for-sale homes on Realtor.com in in 2018 to 0.9% and Denver. “A
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. The used-vehicle inventory index declined in Q2, which is not uncommon for the spring survey. 3 on the list of top 10 factors affecting business.
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