🗞️ Industry roundup:
FROM WARDS AUTO: Most automakers anticipate bright 2025
U.S. light vehicle sales reached over 15.8 million units in 2024, up 2.2% year-over-year and the highest recorded year of sales since 2019. GM and Ford maintained healthy sales increases, while Stellantis took a 20% hit. Many brands saw major double digit sales gains for hybrid and EV inventory, confirming a trend that will stick around in 2025.
FROM CAR AND DRIVER: The biggest winners and losers in auto sales in 2024
Not all sales growth is created equal, and certain brands, makes, and models stood out last year – for better or for worse. Subcompact SUVs took the place of sedans as the affordable transportation option, while mid-size trucks made a play for the full-size market. A number of EV crossovers made successful debuts, while other model rollouts didn’t live up to the hype.
FROM CBT NEWS: Monthly new car payments hit all-time high in Q4 2024
Last year’s new car sales growth was accompanied by increases in both the volume and size of new car loans. By Q4, the average amount financed exceeded $42,000, with 1 in 5 shoppers committing to monthly payments of $1,000 or more. As a result, a category of new car shoppers are being relegated to the used car lot.
FROM CNBC: Used vehicle prices expected to continue to stabilize in 2025 after pandemic volatility
Analysts predict that used vehicle prices will end 2025 in a better place than they ended 2024, but not without a bit of fluctuation first. Retail prices have not moved in line with wholesale prices in recent years, and the average listing price last December was $25,565. If prices cooperate, used vehicle retail sales are expected to increase 1.2% year-over-year.
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