Jan 2023

2023 Rebound Uncertain After Low 2022 Sales

Experts warn the industry will grapple with numerous challenges this year that could slow its recovery, including rising interest rates and sky-high transaction prices that may turn away some buyers.

“We’re not seeing demand collapse; there’s still strong demand, but it’s certainly weaker than it was,” Michelle Krebs, executive analyst at Cox Automotive, told Automotive News. “Interest rates on top of high prices are just freezing some people out of the market.”