New Vehicle Sales Expected to Lift Slightly in Q1 Despite Affordability Challenges, According to Edmunds
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Thursday, March 28, 2024
“New car sales continued in the right direction in Q1, but given the notable rebound in new vehicle inventory, they arguably could have been a bit stronger,” said Jessica Caldwell, Edmunds’ head of insights.
Key Points:
- “New car sales continued in the right direction in Q1, but given the notable rebound in new vehicle inventory, they arguably could have been a bit stronger,” said Jessica Caldwell, Edmunds’ head of insights.
- “In this era of sky-high interest rates, affordability is the name of the game, and consumers are laser-focused on monthly payments.
- According to Edmunds data, days to turn (DTT)* for Honda and Toyota dropped to 22 days and 27 days, respectively, compared to the industry average of 50 days.
- “But shoppers need to temper their expectations as to the brands that they’re going to find deals on.