February 14, 2022 – It hasn’t been an easy start to 2022 for the auto industry, but there are reasons to be bullish the retail market will turn around by year’s end, or sooner.
“All of our data shows us that we’ve we found the bottom at the end of Q4 (in 2021), and we think the first half of 2022 will be a gradual build—inventory will slowly start building,” Mike Darrow, president and CEO of TrueCar said.
While Darrow sees the new car market coming back strongly by the end of this year, he also sees the used car market remaining strong, perhaps longer than it will take for the new car market to fully rebound. As a result, used car prices should remain high until new car sales ramp up significantly.
via AutoWeek
