August 2024

The Automotive Market Insights provides comprehensive monthly analyses of the US automotive market, leveraging extensive data on vehicle pricing derived from hundreds of thousands of new and used vehicle listings. Our insights are based on Automotive Market Data and help illuminate pricing shifts and emerging trends, empowering stakeholders with actionable market intelligence.

In August, the U.S. auto market exhibited stability, supported by a seasonal uptick and strong sales momentum around the Labor Day period. As 2025 model year vehicles begin to arrive at dealerships, several automakers have reported that more than 40% of their current inventory consists of MY25 vehicles. To accommodate these new arrivals, manufacturers are actively clearing out older models, offering attractive financing options on select 2024 models. These enhanced incentives, combined with a robust inventory, are expected to sustain higher sales volumes for the month. Retail sales figures reflect this trend, with new vehicle sales rising by 8% and used car sales growing by 4%, indicating a positive trajectory in consumer demand.