National Automobile Dealers Association (NADA)’s Post

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

🚗📈 Exciting Update from Cox Automotive! 📈🚗 In their latest forecast for August 2024, Cox Automotive Inc. is projecting some intriguing shifts in the U.S. auto sales landscape. According to their report, we're seeing a mix of strong demand for both new and used vehicles, coupled with a steady recovery in inventory levels. Key highlights include: - New Vehicle Sales: A notable uptick is anticipated, driven by continued consumer interest and new model releases. - Used Vehicle Market: Despite supply chain challenges, the used car market remains robust with resilient prices. - Inventory Trends: Improvement in inventory levels is expected to ease some pressure and offer more choices for buyers. This forecast underscores a dynamic period for the automotive industry, with opportunities for growth and adaptation on the horizon. It’s a great time to stay informed and agile in this ever-evolving market! #AutoIndustry #CoxAutomotive #MarketTrends #AutomotiveForecast #CarSales #IndustryInsights

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

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.

The latest Cox Automotive Inc. Dealer Sentiment Index for #Q2 2024 remained stable compared to #Q1, indicating a consistent outlook among U.S. auto dealers despite ongoing market and economic uncertainties. The Q2 current market index score of 42 suggests that most dealers perceive the market as weak, reflecting a trend observed over the past year. https://lnkd.in/eWRjF4wn

Cox Automotive reported that U.S. new vehicle sales volume totaled an estimated 4.16 million units in Q2’24, representing an increase of 1% year-over-year (y-o-y) from 4.12 million units in Q2’23, according to Reuters. In June 2024, a cyber-attack at a retail technology and software provider impacted over 15,000 retail automotive locations in the U.S., leading to a decline in sales for the month. Despite the disruption, new vehicle sales volume is forecast to reach 15.7 million units in the U.S. in 2024, an increase of 1.3% y-o-y from 15.5 million units in 2023.

[NEWS] New car sales are hitting a speed bump: Q3 has been eventful… we’ve seen cyberattacks, Federal interest rate cuts, and a crazy election cycle. In short, uncertainty is impacting new vehicle demand— So what’s the damage? Analysts predict Q3 sales will hit 3.9 million units, down 2.3% from last year. And Sept. sales are expected to be especially weak–down 11% YoY. Part of the reason? A calendar quirk. Sept. had 5 fewer selling days in Aug. But combining sales for these 2 months tells us a more encouraging story – sales are actually up about 2.6% YoY. Yet — at the end of the day — many car buyers are stalled and still waiting for better new car market conditions that could be coming down the pipeline. Read today’s top automotive stories, presented by Anyline: https://lnkd.in/g6dQG2ZT (Data source: Edmunds / Cox Automotive / J.D. Power)

Auto dealers have a better feeling about near-term market conditions than current ones. Read more about the overall sentiment in Cox Automotive's latest report: https://loom.ly/prrMxIw #sales #future #autodealersentiment

Auto dealers may not be keen on current market conditions, but they have a sunny outlook for the near term. Cox Automotive explains where they fall from various angles: https://loom.ly/prrMxIw #future #sales #automotiveoutlook

🚗 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