According to foreign media reports, industry consulting agency J.D. Power and GlobalData jointly released a report recently stating that new car sales in the United States are expected to increase in May driven by demand for cross-border SUVs and pickup trucks.
Weak consumer demand for electric vehicles has prompted U.S. automakers to slow down investment in electric vehicles and shift their focus again to hybrid and gasoline-powered models with higher profit margins.
The data, which is closely watched by analysts and the industry, also shows that despite improved supply, continued demand for electric vehicles has been gradually declining since last year.
, Photo source: J.D. Power, total new car sales in the United States in May 2024 (including retail and non-retail transactions) are expected to reach 1.
4468 million units, a year-on-year increase of 2.9%., The average transaction price of new cars in the United States this month is expected to be approximately $45,033, down $1,045 from the same period last year.
Average incentive spending per vehicle increased 48.
1% from a year ago and is expected to reach $2,640.
Retailers ‘total bicycle profits are expected to fall 31.
5% this month.
, The report shows that 24% of car buyers said they are “very likely” to consider buying an electric vehicle in 2024, down from 26% a year ago. J.D. “The automotive industry’s production will continue to exceed sales, leading to higher inventories and increasing the likelihood of higher discounts over time,” said Thomas King, president of data and analytics at Power. J.D. Elizabeth Krear, vice president of Power’s electric vehicle business, said: “What we are seeing now is a ‘low tide’ for electric vehicles.
It’s unclear how long this will last.
” Kears added: “Consumers who refuse to buy electric vehicles believe that insufficient charging stations,(high) car prices, limited distance to travel after each charge, long charging time and inability to charge at home or at work are all reasons why they would not consider electric vehicles.
“, Return to the first electric network home page>,.
