Automotive Market Update 5-22-2024

Stock Market Highs and Automotive

Used cars below $15,000 continue to show constrained availability with only 36 days’ supply, 22% less than all other price ranges.

With an average U.S. new-vehicle selling price of just over $45,000 last month, many can't afford to buy new - even though prices are down more than $2,000 from the peak in December of 2022, according to J.D. Power.

Affordability remains challenging for consumers, and supply is more constrained at lower price points. The top five sellers of the month sold at an average price…READ MORE HERE.