🤓 + 📝 x (🚗+🛻) = 📈
According to a report from J.D. Power-LMC Automotive, sales of new vehicles in the U.S are expected to increase in March as pent-up demand for cars and trucks continues. Total sales are projected to reach 1.33M units, a 6.2% increase from last year.
🆕 x 🏷️ = 💰💰💰
The only thing rising faster than new-vehicle sales is the price tag. The average price reached $45,818 in March, a 3.5% increase from a year ago.
🚘 x 🤑 x 🚘 x 🤑 x 🚘 = 🌎
The industry remains supply-constrained, but profitability is expected to remain above historical norms, and global vehicle sales have increased to 86.1M units, up 6.2% from 2022.