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Auto Sales Shift from Supply to Demand
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Auto sales in the US are expected to reach around 15.9 million in 2024, reflecting a shift from supply availability to consumer demand. J.D. Power and GlobalData predict a 13.2% increase in 2023 sales, attributed to higher consumer demand and improved vehicle supply. The average new-vehicle transaction price in December is trending towards $46,055, down 2.7% from December 2022.
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How could the changing dynamics in the US auto market affect global automotive trends and competition?
How might the shift from supply availability to consumer demand impact the auto industry's strategies and investments?
What factors could influence the average new-vehicle transaction price in the coming years?
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