The auto industry has been struggling amid widespread macroeconomic headwinds. Rising rates and high inflation have grossly added to the industry's woes.
According to Cox Automotive, total used-vehicle sales in November 2022 are estimated to be nearly 2.70 million units, down 4.5% year-over-year. Moreover, retail used-vehicle sales are estimated to be 1.40 million, down 3.7% year-over-year.
