Consumer spending on vehicles up 11.8% year over year. Total new-vehicle sales for October 2024, including retail and non-retail transactions, are projected to reach 1,327,600, a 2.1% increase from October 2023 on a selling day adjusted basis, according to a joint forecast from J.D. Power and GlobalData. October 2024 has 27 selling days, 2 more […]
Electric Vehicle Sales Mark Another Record in Q3
Higher incentives and more choices lead to growth in U.S. EV sales. According to new estimates from Kelley Blue Book, electric vehicle (EV) sales in the U.S. grew by 11% year over year in the third quarter and reached record highs for both volume and market share. According to the latest counts, an estimated 346,3091 […]
September Light Vehicle Sales Rate Up in U.S.
While sales rate improved year-over-year, NADA reduced its full-year sales forecast. New light-vehicle sales in September 2024 totaled a SAAR of 15.8 million units, an increase of 0.5% year-over year, according to the National Automobile Dealers Association (NADA) Market Beat report. Following a strong start to the year in Q1 2024, where raw sales volumes […]
September U.S. Auto Sales Rate Up
While the sales rate was up, unit sales were lower compared to last year due to Labor Day timing. Given a relatively small number of selling days, 23, and with Labor Day volume counted in August, total U.S. auto sales in September are expected to be much lower than the year-ago and month-prior levels, but […]
U.S. Consumers Less Likely to Purchase an EV Than Last Year
An increase in interest for hybrid vehicles, however, shows a new pathway to EV adoption. The fifth iteration of the EY Mobility Consumer Index (MCI), a global survey of almost 20,000 consumers from 28 countries, found that despite record U.S. consumer interest in electric vehicles (EVs) in 2023, only 34% of U.S. consumers intend to […]
New Light Vehicle Sales Rate Lower in August Despite Volume Increasing
The National Automobile Dealers Association (NADA) reported new light-vehicle sales in August totaled a SAAR of 15.1 million units, down 1.1% from August 2023’s 15.3 million. According to Patrick Manzi, NADA Chief Economist, the August 2024 sales calendar included Labor Day weekend this year, which led to a raw sales volume totaling 1.42 million units, […]
International Energy Agency Reports Global EV Sales Expected to Reach 17 Million in 2024
U.S. EV market share could reach one-in-nine new vehicles sold in 2024 and one-in-five by 2030. According to the International Energy Agency (IEA) despite near-term challenges in some markets, based on today’s policy settings, almost 1 in 3 cars on the roads in China by 2030 is set to be electric, and almost 1 in […]
New Vehicle Retail Sales Were Lower Than Expected in July
According to NADA, the hoped for increase in new vehicle sales in July following missed sales from June’s cyberattack on dealer management systems did not boost sales above last year’s rate. According to the National Automobile Dealers Association (NADA) new light vehicle sales in July were down year-over-year. According to the NADA Market Beat report, […]
Vehicle Manufacturers Making Contingency ICE Production Plans as EV Sales Miss Projections
OEMs are increasingly optimistic about health of U.S. auto retail industry. Automotive OEMs are generally optimistic about the health of the automotive industry over the next 12 months, with the vast majority expecting new vehicle sales to increase or remain the same versus 2023, according to the just-released 2024 Kerrigan OEM Survey. The 2024 results […]
July New Vehicles Sales Projected Up on Bounce Following June CDK Global Outage
S&P Global Mobility projects the pace of sales in July is expected to realize a notable boost on delayed sales from June cyberattack on dealer management system provider. S&P Global Mobility projects new light vehicle sales volume in July 2024 to reach 1.32 million units, up approximately 1% year over year. This volume would translate […]
- 1
- 2
- 3
- …
- 15
- Next Page »