Reported 11 months ago
A report from Cox Automotive warns of uncertainties in the U.S. auto industry as the upcoming presidential elections are anticipated to impact the economy, interest rates, and inflation levels. Consumers are hesitant to make significant purchases like vehicles due to inflation, and economic uncertainty linked to the election may continue to deter purchases. Market forecasts suggest a 2.9% year-over-year rise in new-vehicle sales volume for the first half of 2024, with a steady full-year forecast of 15.7 million. Both consumers and dealers express concerns over inflation, with differing views on how the election will impact vehicle sales.
Source: YAHOO