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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. And both supply of and demand for used EVs is rising, and prices are softening. Used-car demand fell 7.6% Used prices dropped 2.9%
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. for usedcar loans.
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. Of course, that’s not necessarily a good thing.
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