Get in-depth info on the 2024 Chevrolet Trax including prices, specs, reviews, options, safety and reliability ratings.
DETROIT — New vehicle sales in the U.S. rose nearly 5% from January through March, as buyers stayed in the market despite high interest rates. But electric vehicle sales growth slowed during the first three months of the year, with mainstream buyers wary of limited range and a lack of charging stations.
The company said automaker discounts in March were two-thirds higher than a year ago, around $2,800. That includes increased availability of lease deals. J.D. Power expected leases to account for almost a quarter of retail sales last month, up from 19.6% in March of last year. “That's where all of those headwinds come in that we've seen in survey data,” Drury said. “Those real-world concerns about charging infrastructure, battery life, insurance costs.”
Drury said vehicles that are more affordable are selling faster than more expensive ones. Sales of many large and expensive SUVs fell during the quarter as companies faced more frugal buyers.For example, General Motors' Chevrolet brand sold 37,588 Trax small SUVs in the quarter, more than a fivefold increase from a year ago. By itself, the Trax , which starts around $21,500, outsold the entire Cadillac brand.
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