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Cox’s Auto Market Weekly Summary for January 13 shared both positives and negatives.
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Auto industry analysts remain on high alert for “demand destruction” as high interest rates, escalating vehicle costs, and a down economy threaten auto sales.
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Report shows pace of adoption building as ICE vehicles wane.
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Dealer profits still high, though fewer units marked above MSRP.
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Volvo Car AB of Sweden reported sales grew 7% year-over-year in October.
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Carmaker has best quarter of year despite overall industry problems.
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The automaker’s new vehicle registrations grew 61% in the first half of the year to take the top spot among luxury automakers.
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As automakers report second quarter results, analysts say a market rebound may be on the way.
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Ford Motor Co. reported nearly a 32% increase in U.S. sales in June, as it improved truck and SUV deliveries and rolled out an all-electric pickup.
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Stellantis has suspended production at its Russian plant, which employs 2,700 people, over logistical difficulties and sanctions imposed on Moscow.
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