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Commentary: The average price of a new vehicle in the U.S. is expected to break the $50,000 barrier in 2025, as automakers begin to pass along tariff costs and the market sells a larger share of higher-end vehicles.
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Consumer confidence plunges worse than expected across leading indexes after tariffs and added import duties seep into automotive markets.
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As April opened, the total supply of new vehicles on dealer lots across the U.S. was down 10%+ and counting with days' supply down to 10.
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The share of new-vehicle sales from luxury brands drove up average transaction prices, when combined with fewer discounts and incentives, caused new vehicle affordability to fall.
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Domestic brands continue to have the highest inventory while Asian imports rank lowest.
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EV inventory is stacking up on dealer lots as consumers spooked by high prices and sparse charging stations second-guess or resist buying them.
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Bobit releases the latest aggregate numbers for specific fleet sectors as total sales look to close out 2023 well ahead of last year.
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While the UAW strike has slowed output at auto factories nationwide, the fallout has not fully hit consumers in dealer showrooms.
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Sales in Q3 are expected to surpass 3.9 million, a jump of more than 15% from the same timeframe one year ago.
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Fleet sales have helped underpin the market improvement so far this year. Forecasts suggest fleet sales could increase by more than 40% year over year,
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