Decisive election results and falling interest rates pushed Cox Automotive’s Dealer Sentiment Index into positive territory as a tumultuous 2024 draws to a close. +
U.S. dealers sold 106,155 new EVs and 23,788 pre-owned EVs in October, according to Cox Automotive’s latest EV Market Monitor report. +
Declining interest rates, increased incentives and personal income gains have led to the best new-vehicle affordability level since August 2021. +
Even with major year-over-year increases in sales volume, new-vehicle inventory keeps rising with the arrival of the holiday season. +
New-vehicle incentives have continued their growth trend as factories compete for sales and help dealers move their remaining 2024 inventory. +
October rarely brings good news for wholesale values, but the lingering effects of severe weather made a down month worse. +
Hybrid cars are currently the king of the lot in terms of holding their value, with used EVs coming in last behind gasoline-powered vehicles. +
