1355 ET - Cox Automotive says its 4Q 2024 Automotive Dealer Sentiment Index showed renewed optimism among U.S. auto dealers, despite current market conditions which are still considered weak. Jonathan Smoke, chief economist at Cox Automotive, says "The recent resolution of political uncertainty following the presidential election has cleared the path for a more optimistic outlook on future auto market conditions." Cox says the market outlook index, a measure of dealers' expectations for the auto retail market in the coming quarter, jumped to 54 in the 4Q from 42 in 3Q. One year ago, the index stood at just 41, one of the lowest readings in its history, according to Cox. (stephen.nakrosis@wsj.com)
(END) Dow Jones Newswires
December 11, 2024 13:55 ET (18:55 GMT)
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