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Despite a dip in September sales, Canada’s automarket maintains a robust year-to-date growth, driven by strong performances from key brands. Canada’s automotivemarket experienced a slight setback in September, with sales of new vehicles dropping 3.6 per cent increase in 2024. per cent rise from 2023.
The theme of Cox Automotive’s2024 midyear review is… wait for it … No, I mean, that’s the theme: Wait for it. Uncertainty is the name of the game right now in the automotivemarket, according to chief economist Jonathan Smoke and Cox’s team of analysts, as consumers wait for any number of things — including.
automarket, the word that will likely sum up 2024 is “normalcy,” according to Cox Automotive’s Forecast: 2024. Powered by the best data and keenest insights, Cox Automotive developed five themes that offer a collective vision and valuable perspective on the road ahead for the U.S.
Auto dealers are particularly impacted, facing challenges in vehicle availability and profitability. Let’s explore the factors driving inflation in the automotivemarket and discuss strategies for dealers to support their customers through these difficult economic conditions. year-to-date as of June 2024.
Data analysts from the company develop the report, which delves into a range of macro and micro automarket trends through analysis of supply, demand, pricing and consumer behavior across the various Cars Commerce platforms. Like the Cars Commerce report, the CarGurus analysis breaks down movement in the used EV market, as well.
In the face of uncertainty in the automotivemarket, 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. auto dealer respondents, comprised of 550 franchised dealers and 476 independents.
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