These are Cox Automotive 2024 forecasts:
- Only 1.30% growth is expected in new vehicle sales, and only 0.8% for used sales.
- These forecasts are based on slower growth, but no recession, and declining inflation.
As a reference, their initial 2023 forecasts were so-so.
New vehicle sales: 15.46 M vs 14.1M forecasted
Used vehicle sales: 35.9 M vs 35.6M forecasted
Used Value Index: -7% vs -4.3% forecasted