Think of automotive sales in 2024 like you would a new car. On the outside, the paint looks good: Sales in the U.S. rose to a five-year high. But inside, there were some pesky problems affecting the way the car ran.
性视界传媒2024 presented more challenges than we性视界传媒檝e seen in probably five or 10 years, honestly, with availability issues, interest rate hikes and basically just economic pressures that our customers were facing,性视界传媒 said Greg Michelsen, president of Toyota of Longview.
So, 2025 might be the year when the kinks get worked out, letting customers zip down the road in the new vehicles they性视界传媒檝e been wanting. For car buyers who性视界传媒檝e been holding off on purchasing a new ride, this might be the year to buy.
性视界传媒淚 do believe that 性视界传媒25 will offer some opportunity, and I do believe the economy is going to improve,性视界传媒 Michelsen said. 性视界传媒淭he availability of both new and pre-owned automobiles will also improve. I think that性视界传媒檚 pretty much a certainty. And interest rates 性视界传媒 we性视界传媒檙e hopeful that we see some relief in that area.性视界传媒
U.S. auto sales in 2024 reached their highest levels since 2019, the year prior to the coronavirus pandemic. About 15.9 million new vehicles were sold in 2024, and the fourth quarter had the strongest sales 性视界传媒 especially in December, the Nasdaq stock market exchange reported. Sales of hybrid automobiles increased 36.7%, while sales of electric vehicles increased 12% year over year.
Michelsen, like auto dealers around the nation, hopes for even stronger sales in 2025, partly because of a renewed sense of vigor about the economy. Nasdaq reported that new-car sales are expected to reach 16.3 million this year.
性视界传媒淲e性视界传媒檝e seen a pretty substantial jump in what we性视界传媒檇 call shoppers, car shoppers, since the election,性视界传媒 he said. 性视界传媒淚 believe everybody was just up in the air about which direction both the government and the economy was going to go, and I think there性视界传媒檚 a big sense of optimism among the public.性视界传媒
Some vehicle buyers might not view the incoming administration of President-elect Donald Trump quite as favorably. Trump plans to eliminate electric vehicle tax credits and impose higher tariffs on foreign-made vehicles. Nevertheless, electric and hybrid vehicles are expected to remain popular, Nasdaq reported.
But welcome news for all potential car buyers is that interest rates are expected to decline in 2025.
性视界传媒淩ates are softening, and I think there are some attractive loan options for just about every kind of client we run into,性视界传媒 Michelsen said. 性视界传媒淚性视界传媒檓 hopeful this year will be tremendous improvement over the last year.性视界传媒
Used vehicle prices, which skyrocketed during the coronavirus pandemic, could stabilize in 2025, according to auto data and logistics firm Cox Automotive. But while used vehicle prices might not increase significantly this year, that doesn性视界传媒檛 mean they性视界传媒檒l return to their pre-pandemic prices.
Specifically for Toyota, used car prices haven性视界传媒檛 dropped much, Michelsen said.
性视界传媒淭oyota product is absolutely the No. 1 resale product in the U.S., and so far, we have not seen a big reduction in the value of the Toyota used cars,性视界传媒 Michelsen said. 性视界传媒淓ighty-three percent of Toyotas sold 20 years ago are still on the road today.性视界传媒
SUVs continue to be top sellers for a number of automotive makers. The nation性视界传媒檚 largest automakers are unveiling new or modified SUVs in 2025, including revamps of the Ford Expedition, GMC Terrain, GMC Yukon and Honda Passport.
Toyota isn性视界传媒檛 missing out on the SUV hype, either. The company has brought back its popular Land Cruiser SUV, which Michelsen said is 性视界传媒渁bsolutely taking the car market by storm.性视界传媒 The Sequoia SUV and midsize Crown Signia SUV are selling well, too. Toyota性视界传媒檚 redesigned RAV4 midsize crossover and remodeled Toyota 4Runner crossover SUV will hit the market this year.
性视界传媒淭hey have really dressed up and put extra amenities in our lineup from top to bottom, and the product is just being very well received,性视界传媒 Michelsen said. 性视界传媒淲e性视界传媒檝e got new, more efficient power plants in just about every car we make.性视界传媒
