S&P Global Mobility Special Report: US Automotive Market Share Wars will Resume in 2023
SOUTHFIELD, Mich., Feb. 2, 2023 /PRNewswire/ -- After nearly two years of inflated new- and used-car prices – with car dealers asking consumers to pay thousands of dollars over MSRP – the US industry is primed for a reset to previous competitive norms.
- A combination of industry factors and macroeconomic conditions could trigger a potentially bloody battle for market share this year, according to an analysis by S&P Global Mobility.
- "Things will heat up this year when the first tranche of COVID-sold vehicles starts returning to market," predicts Dave Mondragon, vice president of product development for S&P Global Mobility.
- Among luxury brands, Mercedes-Benz and Lincoln still showed the most remaining 2022 vehicles in dealer advertised inventory, according to the S&P Global Mobility analysis.
- From a forecasting perspective, S&P Global Mobility recently downgraded the US demand settings for 2023 due to darkening economic clouds.