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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 June 2024, the automotive market remained relatively stable with minimal changes in inventory and pricing. New car inventory experienced a modest 1% increase, while used vehicle inventory saw a slight decrease of 2%. The average price for used cars rose by 2% compared to May 2024, whereas new car prices remained steady at $48,338. Additionally, the average days on market increased by 6 days for used cars and by 3 days for new cars, indicating a broader market slowdown.
In June 2024, the automotive market remained relatively stable with minimal changes in inventory and pricing. New car inventory experienced a modest 1% increase, while used vehicle inventory saw a slight decrease of 2%. The average price for used cars rose by 2% compared to May 2024, whereas new car prices remained steady at $48,338. Additionally, the average days on market increased by 6 days for used cars and by 3 days for new cars, indicating a broader market slowdown.
2024 Jeep Wrangler – Top Vehicle of June 2024
