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The Cox Automotive Dealer Sentiment Index for the fourth quarter of 2023 showed a sharp drop from Q3, which Cox analysts attributed to the ongoing adverse effects of high interest rates and a weakening economy on the automotivemarket, the two factors cited most by dealers as holding back their business.
Running throughout the five themes is a welcome return to normalcy after four years of everything but normal, with nothing in the data suggesting surges in any direction, as the industry witnessed in 2021 and 2022. Nevertheless, Cox Automotive expects 2024 to be the Year of More for EVs. The expectations for EV growth in the U.S.
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