Lower new vehicle sales increase miles driven on aging car parc, elevating aftermarket auto repair and parts sales for foreseeable future.
Posts tagged as “new vehicle sales”
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.
NADA expected a boost to July sales total due to the CDK cyberattack in June, which limited many dealers’ ability to process transactions.
End of Q1 2024 SAAR 2.7% higher than same period in 2023 as new-vehicle shoppers had many more vehicles to choose from versus last year.
The crossover segment continues to grow and remains the largest new-vehicle segment in the industry.
The sharp increase from 2022 when the average yearly cost was only $10,728, or $894 monthly, is likely due to three factors.
New vehicles are critical to the aftermarket in at least five significant ways, ranging from the average age of vehicles to the annual miles of different vehicle age groups.
