A Q3 analysis in Virginia from our partners at Cross-Sell:
Bottom line for your bottom line: Based on historical data, dealers could see a continued climb in new vehicle sales going into the first quarter of 2025.
- The Virginia new vehicle market lost a little momentum in September, with retail sales dropping 11.7% YoY (Sept ‘24 vs Sept ‘23).
- For quarterly sales, Q3 2024 was down 3.6% compared to Q2 2024. This is a loss of about 2,000 new units QoQ. Compact SUVs remain a top-selling segment throughout the quarter, with the Tesla Model Y, Honda CR-V, and Subaru Crosstrek being the top-selling models in that segment.
- Compared to Q3 2023, new vehicle sales are up by 7.67%. This is a gain of over 5,000 new units for Q3 '24 vs Q3 '23.