"For consumers holding out for the traditional summer selldown events, the reality of this market is going to be a tough pill to swallow,” says Edmunds.
Posts tagged as “new vehicle sales”
Hybrid vehicles were 15.2% year to date through May while battery electric vehicle sales fell significantly, down 30.8%.
Buyers today are more affluent than ever, so they may not be as impacted by inflationary pressures as much as other consumers.
OEMs have indicated, however, that it will take sustained gas prices of greater than $5 a gallon before a big industry-wide shift in the vehicle mix.
March, however, typically sees stronger sales compared to February, but ongoing affordability issues, inflationary pressures and interest rates are affecting the market.
In six past oil supply shock episodes, auto sales dropped by more than 10% of average sales. Three times, they dropped by 40% or more.
Read the highlights from the California New Car Dealers Association's just-published 2025 Economic Impact Report.
