Q3 2024 New Car Insights
Read what we learned during Q3 below:
- Insight: Average daily retail sales dipped down in August.
- Insight: Average transaction price dipped down in August.
- Insight: Days’ supply gradually increased throughout Q3.
- Looking Ahead to Q4: Days’ supply looks to be getting back on track. 2019 was the last year we had “normal” days’ supply.
- Insight: Daily holding cost per new car decreased in September.
- Action: Continue to find ways to move inventory so your floorplan expenses don’t cut into your bottom line.
- Insight: Dealer profit per new car decreased in August, but spiked in September.
Q3 2024 Used Car Insights
Read what we learned during Q3 below:
- Insight: Total vehicles sold decreased throughout Q3.
- Insight: With the slower sales in September, the days’ supply measure was driven higher.
- Insight: The average used-vehicle listing price in September was 5% down from a year earlier.
- Insight: Average trade-in equity saw a significant increase during September.
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