J.D. Power-GlobalData U.S. Automotive Forecast for February 2024
Spending as a percentage of the average MSRP is expected to increase to 5.3%, up 2.3 percentage points from February 2023.
- Spending as a percentage of the average MSRP is expected to increase to 5.3%, up 2.3 percentage points from February 2023.
- Retail buyers are on pace to spend $40.8 billion on new vehicles, up $1.4 billion from February 2023.
- “Global light-vehicle sales in 2024 are projected to be 89.1 million units (adjusted for China exports), an increase of 3% from 2023.
- Global inventory is expected to build slightly in 2024 as production returns to predictable levels and outpaces demand.