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The historically less expensive buying month presented consumers with higher ATPs and MSRPs than it ever has, Cox Automotive found. A large part of the inflation comes in many shoppers’ taste for size.
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Growing access shows greater lender appetite for risk as consumers take on heavier debt burden in an inflated market.
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Auto consumers reported greater satisfaction last year despite higher prices and rising tariffs, due to an omnichannel approach blending online and in-person shopping, Cox Automotive research found.
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December brought some of the best borrowing availability for consumers in years, though lenders tightened their reins on riskier segments of the market.
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Purchases of new and used vehicles were down in December despite several positive market turns for consumers, whose optimism didn’t match their big-ticket spending.
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New-vehicle sales are up from last year but show a slow fourth quarter.
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Personalized messaging is increasing appointment conversions by 26%, Cox Automotive says.
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ATPs, asking prices stay elevated as affordable model sales languish and pricey ones flourish
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In the wake of a healthy year of business, many are seeing slowed traffic and otherwise gloomy conditions.
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Consumer bright spots don’t make up for erosion in other areas
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