The biggest market share year-over-year declines were in the midsize and luxury car segments; vehicle inventory has risen so has OEM incentive spending.
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U.S. dealers view the market as weak in Q3, reflecting growing concerns about the political climate, rising costs and economic uncertainty.
Q1 2024, however, was the busiest quarter on record for dealership buy-sells; market remains busy with a sustained appetite for strong franchises in attractive markets.
The outlook is across firms of all sizes, with the largest, most globally exposed suppliers having the most "pessimistic" view.
Sales pace is forecast to finish near 15.4 million, up 0.1 million from last August's 15.3 million pace but down from July's robust 15.8 million level.
These will be Ed Morse Automotive Group's first stores in Arizona and the acquisitions will increase the company's total to 56 dealerships across the country.
As sales of hybrids and EVs have grown over the years, a question faces the industry: where do these buyers go next when returning to market?
