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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. Limited production between 2020 and 2022 has led to a scarcity of prime, available CPO products despite strong demand.

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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. Auto Dealer Sentiment Improves in Q1, Market View Remains Weak

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At 33, the profitability index fell to its second-lowest score ever, behind only Q2 2020, at the height of the COVID-19 pandemic. Beginning in the second half of 2022, the index has dropped significantly and, in Q1 2024, hit 41 – the lowest point in the survey’s history excluding Q2 2020. “The vehicle market in the U.S.

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Tariff tension continues to mount in US auto industry

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automakers, issued a statement from its president Matt Blunt urging the President to exempt automotive items that are in accordance with the 2020 United States-Mexico-Canada Agreement from the new tariffs. Those tariffs, CarGurus director of economic and market intelligence Kevin Roberts said, could present another major problem for a U.S.