The automotive industry is transforming how vehicles are powered, driven, and shopped for. Moreover, with advanced technology integration, innovative zero-emission vehicles and autonomous self-driving vehicles are expected to be more prevalent in the near term.
The vehicle market’s low inventory amid solid demand is likely to significantly offset the impact of the Fed’s rate hike on the industry’s revenues. Cox Chief Economist Jonathan Smoke agreed that new vehicle sales would likely remain unaffected by the aggressive rate hike cycle.
