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Cox Automotive welcomes a return to normalcy after four years of everything but normal, with nothing in the data suggesting vehicle market surges in any direction.
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Supply chains have stabilized while market headwinds from high interest rates and high prices are muting sales.
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Sales in Q3 are expected to surpass 3.9 million, a jump of more than 15% from the same timeframe one year ago.
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Analysis: The actions of the UAW will reverberate through the larger auto business, but nowhere near what was experienced in April 2020. Sales into fleet could suffer in 4Q if a strike is wide and persists. Rental car companies may return to the used car market like they did in 2021 and 2022, driving prices higher.
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Dealer lots are no longer empty, with far more selection for vehicle shoppers who may have been waiting to buy a particular model.
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Despite elevated vehicle prices, soaring interest rates and high inflation, there are no signs that demand is falling off yet.
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If retail consumers avoid buying new vehicles because of high inflation and interest rates, then OEMs may route more of them into fleet and lease channels.
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A Cox Automotive Mobility white paper delves into "a perfect storm of bottlenecks" for vehicle electrification as supply chain and economic pressures mount.
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See how Cox Automotive scored when its earlier outlook met the economic and market realities so far this year.
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IARA Summer Roundtable: Auto sales and transactions reap more stats, info, and input than ever, but it’s not useful unless you can apply it to business.
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