The IRS reported that the average refund is now up 6.1% from $3,145, 1% higher than reported two weeks back and the IRS-issued refunds are still down 13.8% from a year ago, creating a longer runway for dealers to see returns coming into the stores. This is great news for dealers seeing sales pick up week after week.
More consumers are feeling optimistic about consumer sentiment at 95%, which is the highest it’s been since January of 2022 despite the uptick in gas prices as shown below….
See the graphs and read more here: Automotive Market Update 3-22-24 - Auto Dealer Insights