The NADA Show has officially wrapped, but the year is still heating up!
Over 23,000 automotive professionals attended NADA for a weekend filled with game-changing technology, revenue-generating best practices, and trailblazing partnerships. Check out everything that went down during the event!
FROM AUTOMOTIVE NEWS: Market cools as sales pace tumbles; Toyota, Honda rebounds roll on; Ford, Subaru, Mazda up
Despite improved inventory and discounts, the U.S. light-vehicle market saw only a marginal 0.1% increase in January sales, falling short of expectations. Notably, Toyota and Mazda saw sales surge, while Hyundai and Kia experienced declines.
FROM AUTO REMARKETING: Price declines slowing in wholesale market, accelerating in retail
At the end of January, used vehicle prices saw a slower decline, down 0.33% from the previous week’s 0.49% drop. The overall wholesale market showed reduced depreciation rates, signaling a potential early spring market, with some segments of 8-to-16 year-old vehicles seeing price increases.
FROM REUTERS: Toyota to outshine rivals as more consumers opt for hybrids amid EV slowdown
The Toyota RAV4 Hybrid has gained popularity amidst high interest rates dampening EV demand. Toyota’s hybrid reliance and exclusive hybrid plans contrast with industry-wide EV lag, leading analysts to expect a 40% rise in Toyota’s Q4 operating profits.
FROM COX AUTOMOTIVE: The Fed signals end of tightening era
Despite challenges like rising auto loan rates and squeezed dealer margins, there’s optimism for consumer relief with potential rate drops and declining vehicle prices. These factors could help alleviate inflation pressures, alongside a notable 3.3% real GDP growth in Q4 2023.
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