Car Market Forecast For 2024: Shocks and Twists You Need to Know | Jonathan Smoke, Chief Economist at Cox Automotive

Welcome to the Car Dealership Guy Podcast! In this episode, I'm joined by Jonathan Smoke, Chief Economist at Cox Automotive. We dive into some of the biggest topics shaping the 2024 car market, including shocks and surprises, the painful new phase for the used car market, why new car discounts have plateaued, and the evolving segments of the U.S. car market—and much more.

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Topics:

(00:00:00) - Intro

(00:01:46) - Jonathan’s background and career

(00:03:24) - What’s happened in the market in the last 18 months?

(00:07:32) - What would be the best way for dealers to optimize in this environment?

(00:13:22) - Where are prices headed?

(00:18:01) - How many new cars are on track to be sold?

(00:25:33) - Where is dealership profitability trending?

(00:32:16) - How are auto loans affecting things?

(00:37:21) - Are used EVs or new EV leases still the best deal on the market?

(00:39:28) - Thoughts on Stellantis

(00:44:54) - Will the election have any impact on the industry?

(00:48:40) - What would you ask Elon if you could?

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