Posted 3/24/2024, 2:04:00 PM
Oregon New Car Sales Still Lag Pre-Pandemic Levels, But Signs of Rebound in 2023
- Oregon new vehicle sales still down 18% from pre-pandemic levels due to supply chain issues, high inflation, interest rates
- Manufacturing disruptions limited inventory; fewer cars on lots to test drive/buy
- Spending habits changed - less commuting, some families realized they didn't need 2nd car
- Industry optimistic sales rebounding as supply rebounds and more inventory on dealers' lots
- Auto show turnout, buyer surveys suggest pickup in sales coming in 2023 as market normalizes
