July 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 July, the car market showed overall stability despite some shifts in inventory and pricing. New car inventories decreased by 0.5%, while used vehicle inventories fell by 1.5%. Prices for used cars remained stable at $24K, with a slight 1.5% increase during the month, indicating steady demand. Meanwhile, new car prices saw a minor 1% drop, averaging $48K. These trends suggest a balanced market environment for both new and used vehicles in July 2024