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Cox Automotive’s Forecast: 2024 – A Return to Normalcy in the U.S. Auto Market

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auto market, the word that will likely sum up 2024 is “normalcy,” according to Cox Automotive’s Forecast: 2024. auto industry. auto market 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.

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Report shows consumers ‘speaking with their wallets’ on affordability concerns

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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

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U.S. Automobile Dealer Sentiment: Dealers Remain Pessimistic, Cautious

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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.