U.S. Auto Dealer Sentiment Improves in Q1, Market View Remains Weak
The Q1 2024 Cox Automotive Dealer Sentiment Index shows an overall increase in current market sentiment, but the profitability index dropped to nearly an all-time low.
High Interest Rates, Slow Economy Repress U.S. Auto Dealer Sentiment
The Q3 report is the fifth consecutive quarter with dealer sentiment below the 50 threshold.
As Inventory Concerns Begin to Fade, Economic Uncertainty and High Interest Rates Take Center Stage
According to the Cox Automotive Dealer Sentiment Index, the current market index is now at 45, up from 43 in Q1 but still below the threshold of 50, indicating that more dealers see the current auto market as weak than see the market as strong.
Franchised, Independent Dealers See 2 Different Auto Markets, Latest Cox Automotive Study Finds
Expectations for the next quarter differ between the two groups with franchised dealers believing the market will remain strong. Independent dealers, conversely, expect the market to be weak in the next quarter.
