Many increasingly price-sensitive auto shoppers are staying on the sidelines hoping for better deals in the near future, according to Cox Automotive. In addition, Cox Automotive research shows rising uncertainty among dealers and customers related to the upcoming presidential election. “Politics are the poster child of uncertainty,” says Erin Keating, executive analyst for Cox Automotive, during the webinar that also updated Cox Automotive forecasts. For the full year, Cox Automotive expects new light-vehicle sales of 15.7 million, up from 15.5 million in 2023. Charlie Chesbrough, senior economist for Cox Automotive, says the average new-vehicle transaction price is $48,389.

Source: Forbes July 01, 2024 11:46 UTC