Many toasted the end of 2017 with a collective “Whew – we made it!” The year was one of contradictions. If you are feeling a bit whipsawed – you’re not alone. From political gains/losses to cultural uprisings, there was no shortage of news.
With 2017 in the rear-view mirror, here are a few data points that characterize the tumultuous year.
- Sales of light trucks and SUVs finished strong while sedans bumped along the bottom of the market metrics.
- While gas prices increased, and even spiked regionally during last year’s natural disasters, improvements to gas mileage efficiency and lighter body stylings helped buffer the impact.
- Even though the major OEMs saw overall sales declines, the final numbers were still the fourth highest since the end of the Great Recession.
- OEM incentives reached record highs, and the volume of lease returns spiked. But used car inventory continued to tighten as the year’s natural disasters prompted the need for replacement vehicles.