New Vehicle Sales Expected to Remain Flat in Q2 Despite Ongoing Affordability Hurdles and a Challenging June, According to Edmunds [Yahoo! Finance]
Toyota Motor Corporation (TM)
US:NYSE Investor Relations:
toyota-global.com/investors
Company Research
Source: Yahoo! Finance
forecast that 4,112,804 new cars and trucks will be sold in the U.S. in the second quarter of 2024, which will be a 0.1% increase from the second quarter of 2023 and a 8.5% increase compared to the first quarter of 2024. “Despite elevated interest rates, new vehicle sales looked ready to pack some punch in Q2 thanks to healthier inventory levels and the revival of summertime incentives. But the CDK cyberattacks have thrown a monkey wrench into sales during the second half of June, affecting what is arguably one of the most lucrative and busiest times of the month and quarter for dealerships,” said Jessica Caldwell, Edmunds' head of insights. “Although the impact of these attacks will be different from dealer to dealer, this event is another speed bump on the automotive industry's long road to recovery. The good news is — unlike other black swan events that the industry has contended with in the past — sales shouldn't be lost or severely deferred, but rather pushed into the third qua
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