NADA reports new vehicle sales were down on both a month-over-month and year-over-year basis. Projects production to increase in 2024.
New light-vehicle sales cooled at the start of 2024 according to the National Automobile Dealers Association (NADA) Market Beat report. The January 2024 seasonally adjusted annual rate (SAAR) of 15.0 million units represents a decline of 5.6% compared to December 2023 and 0.7% compared to January 2023.
According to the association, it is likely that some of January’s sales volume was pulled into December 2023, given the increase in OEM incentive spending seen at the end of 2023. According to
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