Vehicle Supply and Demand Stabilizing Around a New Normal
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Freitag, Mai 3, 2024
GRAND RAPIDS, Mich., May 3, 2024 /PRNewswire/ -- Cloud Theory, the real-time automotive data insights provider for automotive manufacturers, agencies, and affiliates is reporting in May's On the Horizon report that new vehicle inventory, although still growing month-over-month, has begun to stabilize. While new vehicle supply grew by 1% on a month-over-month basis, broader trends are indicating that the automotive industry is shifting from recovery to a more stable picture on the supply side.
Key Points:
- While new vehicle supply grew by 1% on a month-over-month basis, broader trends are indicating that the automotive industry is shifting from recovery to a more stable picture on the supply side.
- Vehicle movement has largely maintained its March gains and is expected to do the same in May.
- Higher incentive levels and seasonal tax refunds have helped to boost demand, though stubbornly high interest rates are still tempering results on the demand front to some extent.
- "After a long period of recovery, we are very near to what will be the new normal of full supply."