AutoSuccess
JANUARY 29, 2024
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.
AutoSuccess
SEPTEMBER 26, 2023
auto market, according to the Cox Automotive Dealer Sentiment Index (CADSI). The Q3 current market index was 45, still below the threshold of 50, indicating that more dealers see the current auto market as weak than see the market as strong. Overall dealer sentiment in the U.S. 8, 2023.
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AutoSuccess
SEPTEMBER 6, 2024
Interest Rates : Interest rates for auto loans have risen sharply. According to Cox Automotive’s June 2024 Auto Market Report, the average new car loan interest rate is 10.1% cents per mile in 2022. Higher rates lead to increased monthly payments, making vehicle financing more challenging. for used car loans.
AutoSuccess
MARCH 19, 2024
For franchised dealers, the profitability index has declined significantly from the first half of 2022, when the index was near a record high and above 80. 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.
Auto Remarketing
JUNE 12, 2024
The index for the second quarter of 2024 was virtually unchanged from the previous quarter and has varied little since falling below 50 in late 2022 — but that level indicates a prevailing perception of a weak market. Of course, that’s not necessarily a good thing. Independent dealers’ score fell from 42 to 40.
AutoSuccess
APRIL 29, 2024
More than a third (36.7%) said their F&I sales increased more than 10% compared with 2022. Some emerged during the pandemic, while others were long-term trends in the auto market, such as the overall cost of components, parts availability, shortage of labor and more expensive technology found in today’s vehicles.
AutoSuccess
JUNE 11, 2024
The Q2 current market index score of 42 indicates most U.S. auto dealers see the market as weak. The last time current market sentiment was above 50 — suggesting the market was strong, not weak — was Q2 2022. The cost index in Q2 is at a record high, matching the peak in Q2 2022.
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