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Cox Automotive’s Forecast: 2024 – A Return to Normalcy in the U.S. Auto Market

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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. In 2024, the used-vehicle market is expected to grow by less than 1%. million vehicles sold via retail channels.

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Cox survey finds dealer sentiment stable – at a pessimistic level

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“Overall, dealer sentiment is likely worse than actual market conditions,” Smoke said. Retail vehicle sales have been fairly consistent so far this year, inventory has returned to reasonable levels and we believe interest rates have likely hit a ceiling.

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U.S. Automobile Dealer Sentiment: Dealers Remain Pessimistic, Cautious

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. “Overall, dealer sentiment is likely worse than actual market conditions,” added Smoke. Retail vehicle sales have been fairly consistent so far this year, inventory has returned to reasonable levels, and we believe interest rates have likely hit a ceiling. 3 on the list of top 10 factors affecting business.

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U.S. Auto Dealer Sentiment Improves in Q1, Market View Remains Weak

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auto market is very different than it was just two years ago.” ” While the current market index, and many of the factors driving it, remains weak, the market outlook index improved significantly in Q1, jumping from 41 last quarter to 51 in Q1. automobile dealers.