Edmunds experts have compiled a list of the three major industry trends they believe will influence the roads in 2024.
- Following an explosive rise, new vehicle prices will level off.
- EVs continue to disrupt brand loyalty.
- Hybrid sales will increase as automakers reevaluate their electrification strategies.
Jessica Caldwell, head of analytics at Edmunds, notes, “While the upcoming year holds the promise of further increased inventory and enticing deals that consumers have eagerly awaited, 2023’s high-interest rates are expected to linger, provoking conflicting market dynamics.”
