Auto sales in the U.S. are expected to stay strong in 2025 despite high interest rates. There are several reasons for this, including better deals on financing, more people being approved for credit, and the growing interest in electric cars.
That’s according to Brian Moody, executive editor for Autotrader and Kelley Blue Book, both publications of Atlanta-based Cox Automotive. He joined WABE’s “All Things Considered” to discuss what consumers should expect going into 2025.
Moody said electric vehicle sales are continuing to rise, though slower than some had predicted. But he said by 2025, one in four new cars sold will likely be electrified in some way, including hybrids and fully electric cars, and gasoline-only cars will gradually become less common.
Moody added that for those looking at used electric cars, new tools to test EV battery health are expected to help buyers make more informed decisions. He said even though prices remain high, deals are still available, especially for smaller SUVs, which are growing in popularity.
Christopher Alston contributed to this report.
