The new car market will face huge challenges by year-end, according to Cox Automotive which is warning that pressures could be even worse that those caused by the 2008 financial crisis and the 2020 pandemic.
The warning follows the release of Cox Automotive’s revised 2024 new car forecast, now predicting 2,018,446 registrations for the year.
This represents a slight 2.07% decrease from the previous forecast, factoring in the performance recorded by the Society of Motor Manufacturers and Traders (SMMT) in the first two quarters and the expected volatility in Q4 as the Zero Emission Vehicle (ZEV) mandate influences manufacturer strategies.
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Spotlight on the customer
In this issue:
What consumers really want - trends and habits dealers must understand to provide the right buying experience
Barriers to EV purchase - many private motorists need extra help before they take the plunge
Delighting used car buyers - it's essential for retailers to offer tailored experiences and great value
Aftersales customer care - valuable interactions are vital as dealerships face fishing in a diminishing pool
A customer-first future - Steve Young, ICDP MD, gives AM an exclusive insight.
Read nowAuthor:
Aimee Turner
Deputy editor
AM deputy editor Aimée Turner has been a specialist B2B editor and journalist covering the international transportation sector for more than 20 years.
She has specialised in the significant safety, regulatory, and environmental issues that impact advanced technology businesses in the pursuit of more efficient, safer and sustainable transportation modes.
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