2022 Auto Market Car 
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 6, 2024
cars or roughly two vehicles, according to Money Geek. This means the average household spends over $2,000 per month to own and maintain their cars. Consumers are holding onto their cars longer, reducing the availability of used vehicles for sale. for used car loans. for used car loans, according to Car and Driver.
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Auto Remarketing
JUNE 12, 2024
In the face of uncertainty in the automotive market, the American economy in general and the nation’s political future, the outlook of car dealers remains remarkably steady, according to the latest Cox Automotive Dealer Sentiment Index. While franchises rated the overall market at 49 – just below threshold – independents gave it a 40.
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.
AutoSuccess
APRIL 29, 2024
With this new technology, car manufacturers and dealers must also ask the question, “What happens if these technologies stop working or need to be repaired?” Automotive Technology on Display at CES 2024 Automakers have been incorporating AI into cars for over 10 years. 7 electric vehicles. Why the increase?
AutoSuccess
JANUARY 31, 2024
auto market in 2024 , auto dealers face many new challenges: tighter margins, new technology, and a shift to a more electrified future. Satisfaction with Car Buying Improves After Two Years of Decline As U.S. In 2023, 69% of consumers were highly satisfied with the car buying process compared to 61% in the 2022 study.
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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