20-month milestone reflects more availability of lower-priced models.
Conditions still a long way from prepandemic, and greater economic forces could dampen demand.
Annual census shows the number of stores increased 0.4% last year.
Cox Automotive forecasts sales will increase nearly 4% from 2022 and from January 2023.
The Detroit automaker sold 1.86 million vehicles in 2022, down from 1.91 million in 2021.
Sales of new automobiles plunged to under 14 million vehicles in 2022, the lowest since 2011, reports Kelley Blue Book.
Industry analysts predict U.S. auto retail sales will dip in January as manufacturing slows.
The digitization of the auto retail and finance industry has helped level the playing field for dealers who are willing to invest in new tools — no matter your size or location.
IHS Markit finds the average age of a car on U.S. roads rose to 12.1 years in 2021, up from 11.9 years in 2020. In comparison, the average age was 9.6 years in 2002.
U.S. new vehicle retail sales are expected to drop 888,900 units in September, from 1,182,788 a year ago.
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