Car Dealership Guy’s Post

Exciting news! The latest forecast from Cox Automotive shows that the new-vehicle sales pace for November remains steady, indicating a strong finish for the auto market in 2024. 📈 Stay tuned for more updates and insights as we wrap up the year on a high note! #CoxAutomotive #AutoSales #MarketForecast #2024StrongFinish

🚗 October Auto Sales Shift into High Gear! In October, new vehicle sales are set to rise by 10% compared to last month, holding a seasonally adjusted annual rate (SAAR) of 15.8 million. This uptick comes thanks to October’s 27 selling days—four more than September and two more than October 2023. Overall, we're looking at a 7.9% jump from last year. Cox Automotive’s Charlie Chesbrough says it best: “No tricks, no treats—just stable sales." Key drivers? Strong inventory, rising incentives, and an interest rate environment that’s keeping buyers engaged. But it's not all smooth roads—recent weather in the Southeast may have slowed some sales momentum, while market incentives are helping balance the scale. #newcars #automotive #dealership #inventory #interestrates

New Vehicle Sales Reach Post-Pandemic Highs: What This Means for Dealership Owners and Valuations New data from Cox Automotive Inc. reveals that new vehicle sales have reached their highest monthly rate since the pandemic, with November's Seasonally Adjusted Annual Rate (SAAR) hitting 16.5 million. This marks the highest SAAR since May 2021, which had a monthly SAAR of 17.0 million. This resurgence signals that the improvements in new vehicle affordability, as highlighted in our Q3 2024 Haig Report®, are finally translating into higher sales volumes—a development that has significant implications for dealership values. https://hubs.la/Q030fWNC0

This is a relevant piece of information that was ignored by most analysts today: According to Wards Automotive, August annualized #US new car sales came in at 15.13 million (seasonally adjusted), down from 15.82 million in July, and significantly lower compared to the market consensus forecast of the annualized rate of sales coming at 15.4 million. This performance implies a sequential retrenchment of 4.36% in total new car sales, the most significant fall seen since January of this year. According to my forecasting model, based on this performance 2024 will likely end seeing the annual rate of car sales falling some 6% y/y (December 2024). And looking at 2025 as a whole, the model is estimating that sales should fall an additional 3.4% y/y, with sales falling 5.5% y/y in December 2025 --see graph.

[NEWS] New vehicle sales are expected to surge in December: Demand has been on the rise throughout Q4 — especially after the election — And this month — sales are forecast to hit 1.47M units — 7.7% higher than November. Putting 2024 full-year sales at 15.85M vehicles — up 2.3% from last year. What’s behind the jump? Slightly lower interest rates, much higher incentives, and renewed confidence from consumers. And these factors are also setting the industry up for a strong 2025 — In fact — analysts predict full-year sales of 16.3 million units next year — the highest level since 2019. Bottom line: 2024 set the stage — but 2025 is gearing up to be the main event. Read today’s top automotive stories, presented by Dealer Pay: https://lnkd.in/eSF7UZ-y (Data source: Cox Auto)

USA ■ September Car Sales Projected Down 13%! The number of new cars sold in the U.S. in September 2024 is expected to be less than in September 2023. J.D. Power and GlobalData projected in their joint September forecast that retail and non-retail new vehicle purchases for September 2024 would be 960,500, down 13.2 percent from September 2023's numbers (1,129,659 units). September sales are expected to be down in large part due to the timing of Labor Day weekend. Auto sales calendars do not follow traditional standards of measurement from Sunday through Saturday, first of the month through the last day of the month. Rather, they look at selling days. Car dealerships are usually closed at least one day a week, meaning that there are fewer than 28 to 31 selling days per month. September 2024 had 23 selling days. September 2023 had 26. When adjusted for the number of selling days, September 2024 car sales are projected to have been just 1.8 percent less than September 2023's numbers. "September sales volumes will be lower than a year ago because of a calendar quirk that saw the Labor Day holiday weekend fall into the August sales month. This boosted August's sales but will diminish September's sales from a year ago," Thomas King, president of data and analytics at J.D. Power said in a press release. #JDPower #Automotive #Autonews

Cox Automotive analysts just announced they expect consumer confidence to rise, which they forecast will result in accelerated vehicle sales: https://bit.ly/3VayK4r

US auto sales are expected to increase in the first half of 2024, but concerns about growing inventory levels, increasing incentives, and economic uncertainties may slow growth. Key takeaways: - U.S. auto sales are expected to be up by 2.9% compared to the previous year. - Sales growth is coming from commercial rather than consumer sales. - There is concern that the second half of the year will not maintain the same level of growth. #NNNPro #Dealership #Advisory

March 2024 brings a surge in new car sales, with analysts projecting a 12.1% increase, totaling 1,525,700 units sold! The strong momentum continues with a seasonally adjusted annualized rate of 16.4 million units. This month is expected to close out with a 10.7% growth, hitting 1,225,000 units. Thomas King of J.D. Power notes a historic decline in transaction prices, yet consumers are still expected to close the month with a record $51 billion in new vehicle sales! Read more in the article from CBT News: https://bit.ly/3xcOfiV #AutomotiveIndustry #autodealerships #dealership #cardealership #automobileindustry