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The popularity of hybrids and a sharp rebound in their inventory played an important role in bringing more buyers into dealers, helping the majority of automakers improve their year-to-date numbers. According to a preliminary report by GlobalData, the daily vehicle sellingrate rose to 50,000 in February, up from 42,400 in January.
As automakers work to make room for the new model year, various financing deals are being offered, including options for 0% financing and up to $10,000 in customer bonuses for buyers choosing a new 2024 model. ” All percentages are based on raw volume, not daily sellingrate.
Sales were stable throughout Q3 despite affordability and rising interest rates pushing some buyers out of the market. However, the daily sellingrate metric in September reflects a continued deceleration from the monthly readings in March-July. According to S&P Global Mobility , U.S. million units.
Experts Advise Buyers To Hurry According to Brinkman, “the slowing of deliveries even ahead of a likely subsidy removal we think has the potential to refocus investors on the deterioration in deliveries, revenue, gross profit, EBIT, EPS, and FCF estimates across all periods.” Read: Is Time Running Out For $7,500 EV Tax Credits?
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