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2024 NADA Data Mid Year

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818 views19 pages

2024 NADA Data Mid Year

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chinmay.a
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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M I D Y E A R

R E P O R T

2024
ANNUAL FINANCIAL PROFILE
OF AMERICA’S FRANCHISED
NEW-CAR DEALERSHIPS

NATIONAL
AUTOMOBILE
DEALERS
ASSOCIATION
Overview
The NADA Data financial profile of new-car dealerships is now published twice a year—as a full
annual review at year-end and as a midyear update.
This midyear 2024 review features the many major milestones achieved by the retail auto
industry during the first half of 2024, including such highlights as:
• The nation’s 16,936 franchised light-vehicle dealers sold 7.8 million light-duty
vehicles.
• Total franchised light-vehicle dealership sales topped $613 billion.
• Dealerships wrote more than 133 million repair orders, with service and parts sales
exceeding $76 billion.
In the first half of 2024, new light-vehicle inventory continued to grow steadily. At the end of
June 2024, new light-vehicle inventory on the ground and in transit totaled 2.8 million units,
an increase of 48% year over year. More available inventory meant consumers didn’t have to
wait as long to secure a new vehicle as they did during the past several years. Days’ supply
Patrick Manzi by brand varied significantly across the industry, as OEMs with vehicles most in demand saw
Chief Economist, NADA their inventory sell quickly. Looking ahead, we expect that inventory levels will increase slightly
throughout the remainder of the year and that the industry will see month-to-month sales and
inventory patterns that were considered normal before the turbulent few years caused by the
pandemic and microchip shortage.
As inventory levels have grown so, too, has OEM incentive spending. According to J.D. Power,
average incentive spending per unit totaled $2,695 in June 2024, up 55% from June 2023.
Still, inventory levels vary by OEM, and those with more available inventory are likely to have
higher incentive spending in the second half of 2024. Average new-vehicle transaction prices
were roughly flat at the end of June 2024. The average new-vehicle transaction price at
that time decreased by $53 year over year, a decline of 0.1% and significantly less than the
previous year’s increase of 3.7% We expect that average transaction price growth will be flat to
up slightly for the remainder of 2024.
To improve the breadth of information provided in NADA Data, we offer a section focusing on
the new- and used-vehicle consumer, with in-depth data from Experian. These stats include
average monthly payment, average loan term, leasing and more.

Note: NADA Data was first published in 1979, and some of the methodology and data sources have naturally changed
along the way. Therefore, previous reports may not be directly comparable with the current version.

CONTENTS
Franchised Dealership Workforce ..................................................................................2
New Light-Vehicle Dealerships ......................................................................................3
Dealership Financial Trends ..........................................................................................5
New Light-Vehicle Department ......................................................................................7
Used-Vehicle Department .............................................................................................9
Service and Parts Department .....................................................................................10
Body Shop Department ..............................................................................................12
Dealership Advertising ...............................................................................................13
Employment and Payroll ............................................................................................14
New- and Used-Vehicle Consumer................................................................................16

NADA DATA 2024: MIDYEAR REPORT | nada.org 1


Franchised Dealership Workforce
Average Weekly Earnings
Growth
Data resource 2019 2020 2021 2022 2023
2022-2023

Total sample, franchised dealerships $1,470 $1,554 $1,987 $2,045 $1,929 ▼ 5.7%

Franchised dealers, same stores $1,494 $1,565 $2,026 $2,071 $1,965 ▼ 5.1%

Franchised dealers, same employees $1,560 $1,665 $2,126 $2,218 $2,025 ▼ 8.7%

BLS franchised dealerships $1,180 $1,292 $1,601 $1,681 $1,609 ▼ 4.3%

BLS U.S. private sector $963 $1,015 $1,063 $1,114 $1,160 ▲ 4.1%

Source: Bureau of Labor Statistics (BLS), NADA

Median Weekly Earnings


Growth
Data resource 2019 2020 2021 2022 2023
2022-2023

Total sample, franchised dealerships $1,142 $1,181 $1,392 $1,461 $1,464 ▲ 0.2%

Franchised dealers, same stores $1,160 $1,179 $1,428 $1,483 $1,489 ▲ 0.4%

Franchised dealers, same employees $1,219 $1,245 $1,450 $1,551 $1,536 ▼ 1.0%

BLS franchised dealerships N/A N/A N/A N/A N/A N/A

BLS U.S. private sector $917 $966 $988 $1,059 $1,117 ▲ 5.5%

Source: Bureau of Labor Statistics (BLS), NADA

Earnings Growth, 2023-2024 June YTD


■ Average ■ Median
10%

5.5%
5% 4.1%

0.2% 0.4%
0% N/A

-1.0%

-5%
-5.1% -4.3%
-5.7%

-10%
-8.7%
Total Sample, Franchised Dealers, Franchised Dealers, BLS Franchised BLS U.S. Private Sector
Franchised Dealerships Same Stores Same Employees Dealerships
Source: Bureau of Labor Statistics (BLS), NADA

NADA DATA 2024: MIDYEAR REPORT | nada.org 2


New Light-Vehicle Dealerships
New Light-Vehicle Dealerships by State, June YTD 2024
Alabama 283 Nebraska 154

Alaska 27 Nevada 107 TOTAL NEW-CAR DEALERSHIPS

16,936
Arizona 253 New Hampshire 133

Arkansas 208 New Jersey 464

California 1,337 New Mexico 111

Colorado 249 New York 859

Connecticut 252 North Carolina 582

Delaware 54 North Dakota 70

Florida 932 Ohio 712

Georgia 490 Oklahoma 246 Share of Dealerships by Volume of New-Unit


Sales, June YTD 2024
Hawaii 71 Oregon 222
Percent of dealerships
Idaho 104 Pennsylvania 871
25%
Illinois 702 Rhode Island 52

Indiana 398 South Carolina 262


20.9%
Iowa 262 South Dakota 83 20
18.8%
18.0%
Kansas 204 Tennessee 349
16.6%
Kentucky 232 Texas 1,273 15.3%
15
Louisiana 289 Utah 143

Maine 109 Vermont 80

Maryland 311 Virginia 469 10.4%


10
Massachusetts 387 Washington 313

Michigan 605 West Virginia 131

Minnesota 335 Wisconsin 464 5

Mississippi 178 Wyoming 46

Missouri 374
Total U.S. 16,936 0
Montana 94 1-149 150-299 300-499 500-749 750-1,499 1,500+
Source: NADA Source: NADA

NADA DATA 2024: MIDYEAR REPORT | nada.org 3


New Light-Vehicle Dealerships (continued)
Share of Owners by Number of Stores Operated, June YTD

Number
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
of stores

1-5 95.0% 94.8% 94.4% 94.3% 94.0% 93.8% 93.7% 93.2% 92.7% 92.2% 91.4%

6-10 3.4% 3.5% 3.8% 3.9% 4.1% 4.2% 4.2% 4.4% 4.8% 5.0% 5.3%

11-25 1.4% 1.5% 1.5% 1.5% 1.5% 1.6% 1.7% 1.9% 2.1% 2.2% 2.6%

26-50 0.1% 0.1% 0.1% 0.2% 0.2% 0.3% 0.3% 0.3% 0.3% 0.4% 0.5%

Greater than 50 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.2% 0.2%

Source: NADA

NADA DATA 2024: MIDYEAR REPORT | nada.org 4


Dealership Financial Trends
Total Sales by State, June YTD 2024
All Average per All Average per
State dealerships dealership State dealerships dealership
($ millions) ($ thousands) ($ millions) ($ thousands)
Alabama $7,887 $27,871 Nebraska $3,266 $21,207
Alaska $1,161 $42,994 Nevada $5,602 $52,359
Arizona $14,096 $55,717 New Hampshire $3,555 $26,730
Arkansas $5,219 $25,093 New Jersey $21,418 $46,160
California $69,441 $51,938 New Mexico $3,138 $28,268
Colorado $10,762 $43,219 New York $34,309 $39,941
Connecticut $5,939 $23,568 North Carolina $16,982 $29,179
Delaware $1,660 $30,745 North Dakota $1,460 $20,852
Florida $53,902 $57,835 Ohio $21,211 $29,791
Georgia $19,601 $40,001 Oklahoma $23,633 $96,068
Hawaii $2,773 $39,060 Oregon $6,675 $30,067
Idaho $2,796 $26,883 Pennsylvania $22,211 $25,501
Illinois $20,350 $28,989 Rhode Island $1,918 $36,894
Indiana $9,785 $24,586 South Carolina $8,730 $33,320
Iowa $4,551 $17,371 South Dakota $1,466 $17,667
Kansas $3,851 $18,880 Tennessee $12,201 $34,961
Kentucky $5,086 $21,921 Texas $58,502 $45,956
Louisiana $7,631 $26,407 Utah $5,885 $41,155
Maine $2,706 $24,826 Vermont $1,562 $19,520
Maryland $11,267 $36,229 Virginia $13,845 $29,521
Massachusetts $13,015 $33,630 Washington $11,328 $36,193
Michigan $20,848 $34,459 West Virginia $2,799 $21,363
Minnesota $9,077 $27,096 Wisconsin $8,836 $19,044
Mississippi $4,317 $24,252 Wyoming $832 $18,079
Missouri $12,320 $32,940
Total U.S. $613,835 $36,244
Montana $2,426 $25,813
Source: NADA

NADA DATA 2024: MIDYEAR REPORT | nada.org 5


Dealership Financial Trends (continued)
Total Sales of New-Vehicle Dealerships by Year, June YTD
$625 $40
All dealerships, orange graph (left scale),
in billions of dollars $618.75 $614.65 $613.84
$600.44
$36.94 $36.50
575 $36.04 $36.34 35

525 $30.99 30
$30.00
$518.74
$503.86
475 $26.30
25
Average per dealership, blue graph (right scale),
in millions of dollars

425 $437.80
20
2018 2019 2020 2021 2022 2023 2024
Source: NADA

Share of Total Dealership Sales Dollars, 2023 vs. 2024, June YTD
Service, parts Service, parts
and body shop and body shop

12.6% 13.1%

35.0% 52.4% 33.4% 53.6%


Used vehicles New vehicles Used vehicles New vehicles

2023 2024
Source: NADA

NADA DATA 2024: MIDYEAR REPORT | nada.org 6


New Light-Vehicle Department
New-Vehicle Inventories and Days’ Supply by Year, June YTD
Inventory (in millions) Days’ supply
5 90 domestic
2,288,128
80 import
4 Domestic
531,579
Total 70
NEW-VEHICLE INVENTORY

2,819,707
3
60
Import Import

50
2

40
1 Domestic
30 NEW-VEHICLE
DAYS’ SUPPLY
58 47
domestic import
0 20
2018 2021 2024 2018 2021 2024
Source: Automotive News, Wards Intelligence

Number of New Vehicles Sold and Selling Price by Year, June YTD
Year Average new vehicles sold Average retail selling price
D
SOL
2018 511 $35,249

2019 503 $36,402

2020 386 $38,043

2021

2022

2023
498

404

455
$40,232

$45,646

$47,331
$47,278
AVERAGE SELLING PRICE OF
NEW VEHICLES SOLD
2024 461 $47,278
(by new-vehicle dealerships)
Source: NADA

NADA DATA 2024: MIDYEAR REPORT | nada.org 7


New Light-Vehicle Department (continued)
New Light-Duty Vehicle Sales by Year, June YTD
Total light-duty Light-duty trucks
Year New cars Light-duty trucks
vehicles as % of total

2014 3,896,078 4,227,311 8,123,389 52.0%


2015 3,840,833 4,645,480 8,486,313 54.7%
2016 3,531,924 5,061,876 8,593,600 58.9%
2017 3,105,855 5,295,860 8,401,715 63.0%
2018 2,747,165 5,827,103 8,574,268 68.0%
2019 2,502,253 5,910,663 8,412,916 70.3%
2020 1,589,042 4,839,992 6,429,034 75.3%
2021 1,917,037 6,377,070 8,294,107 76.9%
2022 1,430,545 5,336,957 6,767,502 78.9%
2023 1,577,118 6,081,044 7,658,162 79.4%
2024 1,506,372 6,304,370 7,810,742 80.7%
Source: Automotive News, Wards Intelligence

Market Share by Manufacturer, June 2024 YTD


YTD YTD market
market share share change
BMW 2.4% 0.0%
Ford 12.9% 0.2%
General Motors 16.4% 0.4%
Honda 8.8% 0.6%
Hyundai 10.5% 0.2%

Mazda 2.6% 0.2%


Mercedes-Benz 2.2% 0.0%
Nissan 6.3% 0.0%
Stellantis 8.6% 1.8%
Subaru 4.1% 0.2%
Tesla 3.6% 1.6%
Toyota 15.2% 0.2%
Volkswagen 4.0% 0.3%
Other* 2.5% 0.3%
*Includes Jaguar/Land Rover, Lucid, Mitsubishi, Rivian and Volvo
Source: Wards Intelligence

NADA DATA 2024: MIDYEAR REPORT | nada.org 8


Used-Vehicle Department
Used-Vehicle Sales by New-Vehicle Dealerships, by Year, June YTD
In millions (units)
8 7.89 7.78
7.55

7 6.75
6.44 6.48 6.39
6

0
2018 2019 2020 2021 2022 2023 2024
Source: NADA

Average Retail Selling Price of Used Vehicles Sold by


New-Vehicle Dealerships, by Year, June YTD

In thousands of dollars
$30.80 D
$31 SOL
$29.59
$28.30
29

27

$28,302
$24.54

25

23 AVERAGE RETAIL SELLING PRICE


$21.21 OF USED VEHICLES SOLD
$20.39 $20.84 (by new-vehicle dealerships)
21

19
2018 2019 2020 2021 2022 2023 2024
Source: NADA

NADA DATA 2024: MIDYEAR REPORT | nada.org 9


Service and Parts Department
Dealerships’ Total Service and Parts Sales, June YTD 2024 Dealerships’ Total Service and
Service labor
labor sales
Parts Sales, June YTD 2024
Service sales(in
(inbillions
billionsofof dollars)
dollars)
(in billions of dollars)
$14.93
$16
Service labor sales
12 Customer mechanical $14.93

8 Customer body $2.33


$6.32 $5.68
$3.01 Warranty $6.32
4
$2.33 $2.31
Sublet $2.31
0
Customer Customer Warranty Sublet Internal Other Internal $5.68
mechanical body
Other $3.01
Parts
Partssales
sales(in(in
billions of dollars)
billions of dollars)
Total service labor $34.57
$14
$11.29 $11.53 Parts sales
12
10
Customer mechanical $11.29
$6.97
8
$5.57 Customer body $2.13
6
$4.03
4 Wholesale $11.53
$2.13 $2.32
2
Counter $2.32
0
Customer Customer Wholesale Counter Warranty Internal Other Warranty $6.97
mechanical body
Source: NADA Internal $4.03

Other $5.57
Dealerships’ Total Service and Parts Sales by Year, June YTD
Total parts $43.84
In billions of dollars
Source: NADA
$80 $76.31
$73.76
$68.89
70

60
$58.40
$62.55 $60.43 $76.31 billion
$51.94 SERVICE AND PARTS SALES
(for all new-vehicle dealerships)
50

40

30
2018 2019 2020 2021 2022 2023 2024
Source: NADA

NADA DATA 2024: MIDYEAR REPORT | nada.org 10


Service and Parts Department (continued)
Profile of Dealerships’ Service and Parts Operations, June YTD 2024

Average dealership All dealers

Total service and parts sales $4,505,792 $76,310,091,956

Total number of repair orders written 7,882 133,491,662

Total service and parts sales per customer repair order $450

Total service and parts sales per warranty repair order $506

Number of technicians (including body) 16 270,284

Parts sales per service labor sale $1.47

Total parts inventory $565,520 $9,577,655,110

Average customer mechanical labor rate $173

Source: NADA

$4.51 million 270,284 133+ million


SERVICE AND PARTS SALES TECHNICIANS REPAIR ORDERS WRITTEN
(per new-vehicle dealership) (including body shop)

NADA DATA 2024: MIDYEAR REPORT | nada.org 11


Body Shop Department
Dealerships Operating On-Site Body Shops by Year, June YTD
Percent of total dealership population
37.8%
38% 37.3% 37.2%
37
35.9%
36
34.8%
35
34.2%
33.8%
34
33
32
2018 2019 2020 2021 2022 2023 2024
Source: NADA

Total Dealership Body Shop Sales by Year, June YTD


In billions of dollars
$5.0

$4.01
4.0 $3.83
$3.64
$3.28 $3.27
$2.88 $2.95
3.0

2.0
2018 2019 2020 2021 2022 2023 2024
Source: NADA

Body Shop Sales per Repair Order by Year, June YTD


In dollars
$1,200
$1,089
$1,035
1,000
$870
$760 $749
800
$723 $726

600
2018 2019 2020 2021 2022 2023 2024
Source: NADA

NADA DATA 2024: MIDYEAR REPORT | nada.org 12


Dealership Advertising
Total Franchised Dealership Advertising Expenditures
by Year, June YTD*
In billions of dollars
$5
$4.68 $4.66
$4.46
4.5
$4.26 $4.28
$4.09
4
$3.60

$4.46 billion
3.5

3 TOTAL DEALERSHIP
2018 2019 2020 2021 2022 2023 2024 ADVERTISING EXPENDITURES

Source: NADA

Average Dealership Advertising per New Unit Sold by Year, June YTD*
In dollars
$703
$700 $695 $692

$655
650 $642
$640

600

$541
550

500
2018 2019 2020 2021 2022 2023 2024
Source: NADA

*Advertising expense includes advertising and sales promotion minus advertising rebates. Some advertising data is reported in one account that includes sales promotion and already is minus advertising rebates.

NADA DATA 2024: MIDYEAR REPORT | nada.org 13


Employment and Payroll
Average Weekly Earnings of New Light-Vehicle Dealership Employees by State, Year-end 2023*
Alabama $1,563 Indiana $1,414 Nebraska $1,383 South Carolina $1,555

Alaska $1,501 Iowa $1,408 Nevada $1,814 South Dakota $1,375

Arizona $1,670 Kansas $1,376 New Hampshire $1,867 Tennessee $1,611

Arkansas $1,408 Kentucky $1,433 New Jersey $1,839 Texas $1,729

California $1,838 Louisiana $1,430 New Mexico $1,448 Utah $1,484

Colorado $1,684 Maine $1,492 New York $1,690 Vermont $1,490

Connecticut $1,650 Maryland $1,616 North Carolina $1,542 Virginia $1,555

Delaware $1,454 Massachusetts $1,838 North Dakota $1,383 Washington $1,627

Florida $1,752 Michigan $1,569 Ohio $1,467 West Virginia $1,235

Georgia $1,682 Minnesota $1,406 Oklahoma $1,441 Wisconsin $1,299

Hawaii $1,643 Mississippi $1,319 Oregon $1,521 Wyoming $1,356

Idaho $1,485 Missouri $1,440 Pennsylvania $1,396


Total U.S. $1,609
Illinois $1,493 Montana $1,464 Rhode Island $1,525

*Payroll Information is from year-end 2023.


Source: Bureau of Labor Statistics, NADA

Estimated Number of Dealership Employees by Year, Dealership Employment by Position,


June YTD June YTD 2024
1.2 80 New- and used-car
salespeople
Others
1.13 1.13 1.13

1.1
1.09
70
19.4% 18.3%
70
68 1.05 1.06
1.01 Supervisors
65 13.3%
64
63 63
64 25.1%
1.0 60
23.8%
■ Total of all dealerships (left scale, in millions)
■ Average number per dealership (right scale) Technicians
Other service and
parts employees
0.9 50
2018 2019 2020 2021 2022 2023 2024 Source: NADA

Source: NADA

NADA DATA 2024: MIDYEAR REPORT | nada.org 14


Employment and Payroll (continued)
Annual Payroll of New-Vehicle Dealerships by State, Year-end 2023*
Total, all Average per Total, all Average per Total, all Average per
State dealers dealership State dealers dealership State dealers dealership
(billions) (millions) (billions) (millions) (billions) (millions)

Alabama $1.24 $4.39 Louisiana $1.17 $4.04 Ohio $3.21 $4.51

Alaska $0.14 $5.00 Maine $0.43 $3.96 Oklahoma $1.02 $4.14

Arizona $2.15 $8.49 Maryland $1.88 $6.04 Oregon $1.04 $4.69

Arkansas $0.69 $3.31 Massachusetts $2.06 $5.32 Pennsylvania $3.41 $3.92

California $10.66 $7.97 Michigan $2.83 $4.68 Rhode Island $0.26 $4.95

Colorado $1.64 $6.61 Minnesota $1.43 $4.28 South Carolina $1.32 $5.02

Connecticut $1.10 $4.36 Mississippi $0.59 $3.32 South Dakota $0.31 $3.69

Delaware $0.28 $5.12 Missouri $1.65 $4.41 Tennessee $1.87 $5.35

Florida $7.99 $8.57 Montana $0.31 $3.27 Texas $9.41 $7.40

Georgia $3.06 $6.24 Nebraska $0.53 $3.47 Utah $0.86 $6.01

Hawaii $0.33 $4.70 Nevada $0.92 $8.59 Vermont $0.23 $2.85

Idaho $0.51 $4.94 New Hampshire $0.63 $4.76 Virginia $2.48 $5.30

Illinois $3.35 $4.78 New Jersey $2.96 $6.38 Washington $1.84 $5.89

Indiana $1.65 $4.15 New Mexico $0.48 $4.37 West Virginia $0.39 $2.95

Iowa $0.92 $3.53 New York $4.32 $5.03 Wisconsin $1.57 $3.39

Kansas $0.69 $3.39 North Carolina $2.93 $5.04 Wyoming $0.14 $3.01

Kentucky $0.98 $4.20 North Dakota $0.28 $4.01


Total U.S. $92.14 $5.44
*Payroll information is from year-end 2023.
Source: Bureau of Labor Statistics

NADA DATA 2024: MIDYEAR REPORT | nada.org 15


New- and Used-Vehicle Consumer
Average Amount Financed, 2023 vs. 2024, Q2 Credit Score Range
■ New ■ Used Category Score range
$45,000
$40,743 $40,927 Super prime 781-850
40,000
Prime 661-780
35,000

30,000 Near prime 601-660


$27,316 $26,248
25,000 Subprime 501-600

20,000 Deep subprime 300-500

15,000
Market Share of New-Vehicle
10,000
Financing (Loan/Lease) by
5,000 Lender Type, 2023 vs. 2024, Q2
0 Q2 2023
Q2 2023 Q2 2024

57.3%
Captive
Percentage of New Vehicles Leased, Q2

35% 22.4% 14.4%


Bank Credit
31.8% union
30
27.7%
26.6% 25.4% 1.2% 4.6%
25 BHPH/Other Finance
21.1%
19.3%
20 Q2 2024

15
60.6%
Captive
10

5
21.3% 10.3%
Bank Credit
0 union
Q2 2019 Q2 2020 Q2 2021 Q2 2022 Q2 2023 Q2 2024

1.2% 6.7%
Source for all charts on this page: Experian Automotive. For more information, visit experian.com/automotive.
BHPH/Other Finance

NADA DATA 2024: MIDYEAR REPORT | nada.org 16


New- and Used-Vehicle Consumer (continued)
Average Monthly Loan Payment, 2023 vs. 2024, Q2 Share of New-Vehicle Loans by Term Length
in Months, 2023 v. 2024, Q2
■ New ■ Used
800
$734
$733
Q2 2023
700

600 38.5%
$536 61-72 mo.
$525
500

16.8%
400
29.4% 49-60 mo.
73-84 mo.
300
13.7%
200 1-48 mo.

100
1.7%
0 85+ mo.
Q2 2023 Q2 2024
Average Loan Term in Months, 2023 vs. 2024, Q2 Q2 2024
72

■ New ■ Used
40.8%
70 61-72 mo.
Q2 2024
68.5
68.3
68 19.0%
27.1%
Q2 2023
67.4 67.4 49-60 mo.
73-84 mo.
66 11.4%
1-48 mo.

64 1.8%
85+ mo.

62

60
Q2 2023 Q2 2024
Source for all charts on this page: Experian Automotive. For more information, visit experian.com/automotive.

NADA DATA 2024: MIDYEAR REPORT | nada.org 17


New- and Used-Vehicle Consumer (continued)
Average Interest Rate on Vehicle Financing, 2023 vs. 2024, Q2
■ New ■ Used

11.47% 12.01%
12%

10

8
6.78% 6.84%

0
Q2 2023 Q2 2024

New-Vehicle Loans by Risk Segment, 2023 vs. 2024, Q2

0.3% 4.7% 0.4% 5.3%


Deep subprime Subprime Deep subprime Subprime

11.5% 11.6%
Near prime
Near prime

42.5% 44.7%
Super prime Super prime

41.0% 38.1%
Prime
Prime

2023 2024
Source for all charts on this page: Experian Automotive. For more information, visit experian.com/automotive.

NADA DATA 2024: MIDYEAR REPORT | nada.org 18

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