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As April opened, the total supply of new vehicles on dealer lots across the U.S. was down 10%+ and counting with days' supply down to 10.
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Uncertainties in policy changes are creating challenges for automakers as they await further information.
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The tightening of days' supply for new and used electric vehicle markets shows healthy consumer interest.
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The market moves reflect an ideal blend of improved consumer sentiment, bigger discounts, and evident optimism in the market.
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Lower interest rates, more incentives, and increased incomes could not offset the effects of higher prices, which drove down affordability.
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Used EV sales rose a whopping 63% so far year over year, while new EV sales increased about 14%.
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Many buyers waiting for the best deals realize now is the time to buy a vehicle before the new Administration's possible policy changes.
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EV sales may experience some tailwinds, leading to robust activity through the end of the year.
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As the number of new vehicles increases and incentives rise, the auto industry is seeing the highest days’ supply in two years.
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Sales trends may have been affected by business disruptions early in October caused by hurricanes Helene and Milton coming back-to-back.
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