Car Market Crash 2024. New car prices remain elevated. The top 4 constitute a whopping 81.5% of total dispatches and 81% of retail sales.
Chip shortages affecting auto industry and equipment makers. In 2023 and 2024, it’s the reduced supply of used cars that ensures prices will remain elevated.
This Hike In Rates Is Squeezing Consumer Budgets, Making It Challenging To Find Affordable Monthly Payments.
Many folks who watch the car industry predict that trend will continue in 2024.
In 2024’S Car Market, We’ll Take Good News Where We Can Get It.
The average transaction price for an electric vehicle is now 16.7% higher than the overall market.
Hybrid And Ev Prices Remain Elevated Above The Overall Market, But The Gap Is Narrowing.
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Few Cars And Pickup Trucks Received The Designations.
This hike in rates is squeezing consumer budgets, making it challenging to find affordable monthly payments.
However, We’re Seeing A Different Trend This Spring:
Data showed a 1% decrease from 2022, and prices continuously went down 3.5% since december 2022.