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automarket, the word that will likely sum up 2024 is “normalcy,” according to Cox Automotive’s Forecast: 2024. auto industry. ” For 2024, the Cox Automotive Economic and Industry Insights team sees the U.S. automarket being steered by five key themes. For the U.S.
It was good news, bad news for the retail used-carmarket in January. Used-car demand fell over 7% from January 2023, but was up almost 14% from December. These are just some of the trends and data shared in the inaugural monthly Industry Insights Report from Cars Commerce released Thursday. Used-car demand fell 7.6%
The Renault 5 E-Tech Electric is bringingstyle and fun back to the European automarket with a retro design that looks just as good in 2024 as it did in 1972, when the original Renault 5 came out.
Cox Automotive will occupy the largest exhibition space at NADA Show 2024, Feb. “We are excited to showcase the most complete and connected ecosystem in the auto industry at the NADA Show 2024, which is undoubtedly the auto industry’s event of the year.” 1-4 at the Las Vegas Convention Center.
The Q4 2024 Cox Automotive Dealer Sentiment Index (CADSI) reveals renewed optimism among U.S. The latest survey, conducted immediately following the national election in early November, indicates that, while current market conditions are still viewed as weak, dealers are increasingly optimistic about the future. automobile dealers.
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.
The Consumer Electronics Show (CES) 2024 proved once again that the biggest technology show of the year is also becoming an important automotive show as well. 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?” Why the increase?
automarket fills in another piece with the arrival of the 2025 Hyundai Sonata. Given a pretty big refresh for the 2024 model year that introduced stern looks and a racier N Line trim, the popular sedan rolls into 2025 with just a few small updates. That's $850 less than the price of the low bar in 2024, the SEL.
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
The auto finance and retail industries continued to embrace the adoption of digital documentation and back-office strategies toward the end of 2024. Todays Rebounding AutoMarket The positive trends in the reported digital adoption coincide with a continued rebound in the U.S. automarket.
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.
The latest Cox Automotive Dealer Sentiment Index (CADSI) remained stable from Q1 to Q2 2024 despite dealer uncertainty in the market and economy. The Q2 current market index score of 42 indicates most U.S. auto dealers see the market as weak. The Q2 2024 CADSI is based on 1,026 U.S.
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. “After some highly profitable years for many dealers, 2024 will be a tough comparison. . 4 on the list.
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