Cox Automotive forecasts an improved used-vehicle market in latter half of the year.
U.S. auto dealers cite a poor economy, higher interest rates and low inventory as the reason why, finds the Cox Automotive Dealer Sentiment Index.
Concerns over the economy and political climate failed to discourage franchised and independent retailers surveyed for Cox Automotive’s latest Dealer Sentiment Index.
Stock are on the rise following the second quarter-point reduction to the federal funds rate in less than two months. No further cuts are planned for this year or next, guaranteeing further pressure from the White House.
Cox Automotive’s latest Dealer Sentiment Index shows a marked disparity in optimism and fear factors between America’s new- and used-car dealers.
Cox Automotive analysts say U.S. dealers reported strong traffic and profits but have remained largely pessimistic in their view of the auto retail market in the second quarter.
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