Cox Automotive expects U.S. sales growth to slow during the second half of the year to end 2024 at 15.7 million units, roughly a 1.3% increase compared to 2023.
That's largely good for consumers, some of whom have been waiting years to purchase a new vehicle, but a headwind for automakers. The auto data and research firm expects sales growth to slow during the second half of the year to end 2024 at 15.7 million units, roughly a 1.3% increase compared to 2023. And,"Overall, we're expecting some weakness in the coming few months," said Cox chief economist Jonathan Smoke during a mid-year review briefing Tuesday."We basically are making some assumptions that we can't quite hold the pace that we've been seeing. But we're not expecting a collapse either.