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CDK Global’s monthly purchase scorecard highlights buying trends in light of rising interest rates, inflation.
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Still off historical norms, improvement leads to more sales.
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Conditions still a long way from prepandemic, and greater economic forces could dampen demand.
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Annual census shows the number of stores increased 0.4% last year.
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Cox Automotive forecasts sales will increase nearly 4% from 2022 and from January 2023.
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The Detroit automaker sold 1.86 million vehicles in 2022, down from 1.91 million in 2021.
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Sales of new automobiles plunged to under 14 million vehicles in 2022, the lowest since 2011, reports Kelley Blue Book.
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Industry analysts predict U.S. auto retail sales will dip in January as manufacturing slows.
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