I believe two things are true of the car market in the summer of 2024. First, Americans are fed up with the car prices that shot up during the pandemic, especially now that they have to finance them for 7% even if they have amazing credit. And second, they will break up with gasoline if they're given a chance. Those two factors help explain the overall flat new car sales we saw in Q2, with the exception of EVs, which are on the rise from most brands thanks to aggressive price cuts, tax credits, lease deals and even dealer incentives.
