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Subdued spring sales due to affordability issues pad inventory, except for the least expensive vehicles.
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Waning tax refunds pair with high interest rates to mute demand, Cox Automotive says.
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Slight incentives pullback pushes ATP to its highest of the year, but Cox expects them to resume along with inventory.
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Cox forecast puts mass adoption on the fast track within a decade.
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Credit access varied depending on vehicle, lender type, Cox says.
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Fewer selling days explain the difference. Sales pace on track to be the best sales year since 2019.
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Though days’ supply far exceeds a year earlier, it fell for the month.
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Retail sales were up from January and a year earlier for the strongest volume in nearly a year.
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