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

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The increase in inventory is expected to lead to higher incentives and discounts; however, we won’t see incentives at the record highs reached in 2019 when discounting exceeded 10% of transaction prices and the new-vehicle market was pushed above 17 million units for a fifth consecutive year according to Kelley Blue Book counts.