7/29/2024

The Automotive Industry has faced some challenges over the past few years, especially as it relates to the transformation from ICE to EV or HEVs.

Also, interest rates have held fairly high compared to the recent past, and consumers have fought challenges presented by inflation.

The beliefs of many, are that the automotive industry is struggling mightily.


Even though the transformation has not been smooth, new EV sales have steadily increased. Also, new vehicle sales are actually trending up these days.

July 2024’s new vehicle sales are projected at 1,3450,000, which is a 2.8% increase from July 2023 (both July 2023 and 2024 had 25 selling days).

2024 annual sales are projected to be 16.7 million units, which would be the highest new vehicle sales total in the last 3 years.


OK, not too bad. Sure things could always be better.

But the #’s right now are tracking ahead of beliefs …


71-83, clouds, and maybe some rain (coming off a humid 90 degree weekend).

Make it a great Monday!

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SCN – Search Consulting Network