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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.
The car-buying public has a message for the used-car industry, and it’s this: We don’t want to pay too much for a vehicle. That message was clearly conveyed in CarGurus’ latest Quarterly Review, which found sales of lower-priced used cars rising and high-end vehicle sales falling. “As days on market) and 2-3 year-old (58.5
The steady growth in digital documentation processes reflects a mature understanding of the long-term benefits, positioning digital transformation as a critical pillar for the auto industrys future. Todays Rebounding AutoMarket The positive trends in the reported digital adoption coincide with a continued rebound in the U.S.
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 survey also asks dealers to rate new-car sales and used-car sales separately, along with various key drivers, including consumer traffic.
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