From CNBC: 2024-09-26 14:18:47

U.S. new vehicle sales expected to drop by roughly 2% in the third quarter compared to 2023, totaling about 3.9 million vehicles sold. Analysts attribute struggling sales to economic and political uncertainties, high interest rates, and prices.

Average transaction price for new vehicles remains high at $47,870, limiting affordability for many consumers. Honda and Ford expected to see growth, while Stellantis, Toyota, and BMW face major losses. Jeep and Ram brands remain a priority for Stellantis CEO amidst sales decline.

Electric vehicle sales continue to grow slowly, with an expected 8% increase in the third quarter. Despite this, Tesla’s market share is projected to fall below 50% for the second consecutive quarter. EV sales boosted by incentives, representing 13.3% of the average transaction price, the highest rate this year.



Read more at CNBC: U.S. new vehicle sales expected to have struggled during third quarter