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Indy Auto Man car dealership, Indianapolis
Sales of Compact and Cheap Cars Have Soared in the US: How to Benefit from the 2024 Trend
Low price tag, high fuel economy, and compact size are the key characteristics US buyers want in their cars in mid 2024.” - Eugene Gorin, co-founder for Indy Auto Man dealership
INDIANAPOLIS, INDIANA, USA, August 28, 2024 /EINPresswire / -- The main tendency in the US car market is a noticeable increase in sales of cheap small-size passenger cars. The experts from the Indianapolis used car dealership, Indy Auto Man, comment on the trend and share insights on how consumers can benefit from it.
Pickups and SUVs still feel confident at the top of the sales ratings , but small cars consistently gain the US audience. As KBB reports, the new Honda Civic (MSRP is $24,000) sold 129,788 units in the first six months of 2024, which is 38% more than in the same period last year. This is the second place in sales among all Honda models. The main competitor is in a similar situation: Toyota Corolla (priced from $22,000) showed a 25% increase in sales (to 121,991 units), more than twice outpacing the crossover of the same name and taking third place in the internal brand rating. Even the retiring Kia Forte sedan (starting price - $20,000) managed to show a 13% increase with sales 70,474 of new cars. A larger and more aggressive Kia K4 model will soon replace it, and used Forte models will remain the only options available. Nissan had real success: sales of Sentra sedans priced from $21,000 soared by 55% (to 89,028 units). The even more compact and affordable Versa (from $17,000) showed a 61% increase, although the absolute figure is still modest (17,812 units). Finally, the ancient (debut in 2011) and miniature Mitsubishi Mirage, which in the States costs around $16,700, showed a cosmic sales growth of 85% (9,862 units).
All these statistics show that Americans still need cheap cars to update the country's aging vehicle fleet. Following the demand, dealerships are willing to buy popular models.
Victor Figlin, the GM at Indy Auto Man, the Indiana dealership, explains the trend by the change in the consumer generation:“Priorities evaluate. The car becomes more of a means of transport and less of an image attribute. Today, buyers want an economical, ecological, reliable, and maneuverable vehicle for a big city. They prefer spending money on entertainment and self-development rather than on an expensive car. And we strive to meet their demands and expand our range of affordable models.”
The peak of the trend is the best time to trade in a sedan or small hatchback, especially in good condition. In addition to attractive prices, consumers can benefit from the large assortment in the same category or opt for a crossover. Considering the changing preferences, the chances are high that larger vehicles will slightly lose value. The easiest way to find the best deal in Indiana is to monitor prices on indyautoman. The dealer integrated the smart dynamic system that automatically changes the prices of the models in stock based on the hyperlocal analysis of the market demands.
About Indy Auto Man
The Indy Auto Man dealer has established itself as a respected name in the Indiana used car market for over 15 years. Their dealership offers a wide selection of vehicles in various price categories from renowned American, German, and Japanese brands, including Ford, Chevrolet, Dodge, Volkswagen, Kia, Nissan, and Toyota. Each vehicle undergoes a comprehensive reconditioning process, and buyers receive a complimentary Carfax history report, along with a 7-day policy and a 30-day price match guarantee.
Victor Figlin
Indy Auto Man
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Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.