Tags: auto | sales | prices | second | quarter

New Car Sales Barely Rise as Buyers Balk at High Prices

New Car Sales Barely Rise as Buyers Balk at High Prices
A 2024 Mach E electric sports-utility vehicle sits on display in the Ford exhibit at the Denver Auto Show, April 4, 2024, in Denver. (David Zalubowski/AP)

Tuesday, 02 July 2024 05:26 PM EDT

U.S. new-vehicle sales rose only slightly in the second quarter, despite larger discounts and slightly lower prices.

Industry analysts say they expect prices to drop further, and suggest buyers consider waiting for better deals and possibly an interest-rate cut.

Overall, U.S. sales were up only 0.1% compared to a year ago, as still-high prices kept many potential buyers out of the market, according to preliminary tallies Tuesday by Motorintelligence.com.

Sales were crimped in late June, when cyberattacks knocked out software from CDK Global that dealerships use to do sales paperwork. CDK said most dealers were back up by Tuesday afternoon, but companies such as General Motors said the problem pushed some deliveries into the third quarter.

Analysts say inventories on dealer lots is building, especially for pickup trucks and other higher-priced vehicles.

Discounts vary by demand for vehicles, with smaller, less-expensive models and gas-electric hybrids generally being in shorter supply. Many customers are delaying purchases, figuring that bigger discounts are coming.

Copyright 2026 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.


StreetTalk
U.S. new-vehicle sales rose only slightly in the second quarter, despite larger discounts and slightly lower prices.Industry analysts say they expect prices to drop further, and suggest buyers consider waiting for better deals and possibly an interest-rate cut.
auto, sales, prices, second, quarter
161
2024-26-02
Tuesday, 02 July 2024 05:26 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved