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March U.S. auto sales, when reported on Friday, will show a notable drop from last March as the market remains significantly constrained by lack of supply.
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Provides ActivEngage’s managed messaging and customer engagement solutions across Cox Automotive brands.
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February’s CPO result is the highest since October 2021 and interrupts a six-month downward trend.
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Facing a slow start to the year, and with concerns over inflation and the economy, automobile dealer sentiment softened in Q1, marking the third consecutive quarter-over-quarter decline in current market sentiment.
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New-vehicle sales volume has been averaging just over 1.05 million each month since last August, and this February is not expected to buck the trend.
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In the most recent Auto Market Report video, Cox Automotive Chief Economist Jonathan Smoke notes that 2022 has started slower for the U.S. economy and for vehicle sales.
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Tesla’s Model Y could overtake BMW as the top-selling luxury model when its plant opens in Texas.
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Consumers continue to pay well above MSRP for a new vehicle, marking eight straight months of paying more than sticker price.
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Watch the Auto Market Report video for more data and insights that provide a holistic view of the auto industry.
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Industry analysts predict U.S. auto retail sales will dip in January as manufacturing slows.
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