The Economic Times’ Post

Not a great news to start the day, but problems open windows for opportunities & innovation !! #automotiveindustry is expected to experience stagnation of #sales in FY 2025 as the pent up demand is met !! Its time for the industry to look for another breakthrough/tipping point to get that extra demand & growth like - New #suvs #connectedcars #adas & #dms features did to the industry. May be a sub 5 lakh #electric #car to push 2nd car demand from existing car owners Because the economy is expected to be on #growth trend, its for the #automotive industry to grand it's share of growth Your views are highly appreciated. ETAuto

US auto sales were OK in April, but there is a sense in which the market is getting tougher, as high financing costs and still-elevated transaction prices, combined with stumbling EV rollouts, create headwinds. We at GlobalData Automotive still think the market will achieve growth this year, at 16.1 mn units, but more discounting might be required to get there. https://lnkd.in/gJZzN-wb #auto #automotiveindustry #economy #retail

"Despite the challenges facing the used car market, including tightening supply, shifting consumer demands, and the volatile transition to electric vehicles (EVs), the long-term outlook remains cautiously optimistic. While the second half of 2024 and into 2025 are expected to test the resilience of even the most seasoned operators, the sector’s inherent adaptability suggests that opportunities for growth and profitability still exist. Success in the coming years will hinge on strategic innovation, embracing regulatory changes, meeting evolving consumer needs, focusing on sustainable practices and leveraging technology to drive engagement and efficiency." Business Car Jack Carfrae Cox Automotive Europe Philip Nothard Check out the IQ (Insight Quarterly) Q3/2024 here 👉 https://cox.auto/uhj9L

🚗 Cox Automotive predicts used car market growth slowdown, but sales increase overall 🚗 Used car market growth seen in the first half of 2024 is unlikely to continue during the rest of the year, according to Cox Automotive. The data company said its latest market forecast was showing a slight slowdown in Q3 and Q4 compared with its previous prediction. However, its full-year prediction of 7,434,709 sales is 1.2% up from its previous forecast, and would represent a 2.7% year-on-year increase. Cox Automotive insight director Philip Nothard said the revised forecast reflected a strong start to the year and expected influences on the market in the months ahead. Read more online: https://lnkd.in/eNYerjTv 🔔 Click our follow button to see regular car and fleet industry news and insights, and subscribe to our newsletter 🔔 #BusinessCar #usedcars #remarketing #carsales

In March 2024, new motor vehicle deliveries surged for the 11th consecutive month, reaching a record high despite industry predictions of an impending slowdown. Sales grew by 12.7% compared to the previous year, totaling 109,647 vehicles, aided by a 4% decline in the same period last year due to quarantine delays. Despite concerns raised by industry analysts about a decrease in new orders post-pandemic peak, the market continued its robust performance. READ MORE: https://lnkd.in/g4nu6tdc

What’s the worst thing somebody can say when you ask them for something? “No” right? If you’d like to source more cars from your current customers, there’s a perfect time and a perfect question to ask them. Our friends at DealerRater and Cars.com asked 21,000 consumers “The last time you took your vehicle in for service, did anyone from the dealership discuss the trade-in value of your vehicle with you?”. Sixty percent of those people replied “No”. There it is again…that aroma of opportunity. With new car inventory piling up at most dealerships, cars getting more expensive, and interest rates being high, more customers are looking for affordable used vehicles that are just a few years old. Unfortunately those are becoming a lot harder to find given the decline in lease returns (check out “The Impending CPO Drought" for that story). What to do? Ask everyone that’s coming in for service if they’d like to see what their car is worth. What’s the worst they can say? No? Even better, just go ahead and print out their trade-in market report, staple it to the receipt, and show it to them to start that conversation. You will source more vehicles each month. #automotive #usedcars #cardealerships

The U.S. automotive industry has undergone a significant transformation over the past decade, driven by fluctuations in car prices, interest rates, and changing consumer habits. These factors have affected the average age of vehicles on the road, increased demand in the automotive repair market, and reshaped the dynamics of new and used car sales. For more insights into trends and opportunities in automotive services, explore this article: https://lnkd.in/evSyv3JT. #AutomotiveIndustryTrends

The U.S. automotive industry has undergone a significant transformation over the past decade, driven by fluctuations in car prices, interest rates, and changing consumer habits. These factors have affected the average age of vehicles on the road, increased demand in the automotive repair market, and reshaped the dynamics of new and used car sales. For more insights into trends and opportunities in automotive services, explore this article: https://lnkd.in/ezkAJWWF. #AutomotiveIndustryTrends

The U.S. automotive industry has undergone a significant transformation over the past decade, driven by fluctuations in car prices, interest rates, and changing consumer habits. These factors have affected the average age of vehicles on the road, increased demand in the automotive repair market, and reshaped the dynamics of new and used car sales. For more insights into trends and opportunities in automotive services, explore this article: https://lnkd.in/e6qrtgk4. #AutomotiveIndustryTrends

📢 Residual values set to decline in 2024 - The RVs of three-year-old cars at 60,000km, presented as a percentage of original list price (%RV), are expected to follow a falling trend into 2024. - The used car markets of Austria, Germany, Italy, Spain, Switzerland and the UK can all expect to see values decline this year. - The largest drop is expected in the UK, with %RVs forecast to fall 7.5% year-on-year by December. This is followed by predicted declines of 4% in Switzerland and 3.5% in Austria. Italy is not far off, with an expected drop of 2.3%. Meanwhile, the declines forecast in Germany and Spain are more marginal, at 1% and 0.7% respectively. - These projections follow on from a negative trend established in 2023. The year got off to a good start, but higher living costs soon began to erode spending power across Europe. This meant used-car demand slowed across many markets. - Additionally, consumers who did venture onto forecourts were more likely to find older models in countries like Germany. This was due to a lack of supply from de-fleeting, as new-car purchases in 2020 and 2021 were heavily impacted by the COVID-19 pandemic. Read the full analysis provided by experts from across Autovista Group here https://lnkd.in/eyyQcseR #UsedCars #AutomotiveIndustry #Europe #Sales #ResidualValues