Lotlinx Weekly News Vol. 248: Sales can only go up from here!

FROM CNBC: Automakers are cautiously optimistic for a 2023 rebound after worst new-vehicle sales in more than a decade

Nearly every major automaker saw year-over-year declines in new vehicle sales last year, with Stellantis, Nissan, and Honda seeing double-digit dips. However, auto executives remain hopeful that the inventory and demand stars will align for a sales rebound in 2023.   

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FROM CBT NEWS: New car buyers face record-high monthly auto loan payments

At the end of 2023, 15% of new car buyers were paying over $1,000 per month to finance their purchases. This percentage is up 5 points year-over-year and marks a continued trend toward volatile consumer purchases despite the overpriced market.   

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FROM COX AUTOMOTIVE: Used vehicle values expected to normalize in 2023 after record volatility

Used vehicle values declined 14.9% year-over-year – a significant shift in just 12 months, but a sign that the used car market is finally returning to its pre-pandemic state. All eight major market segments also saw price declines over 12%.  

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FROM CAR AND DRIVER: The 25 bestselling cars, trucks, and SUVs of 2022

A handful of brands and models overcame last year’s supply chain roadblocks and sales slumps to satiate consumer needs. Trucks, like the Ford F-Series, and Toyotas made up the bulk of the top-selling list. 

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