Consumer Debt24.2% of new car deals have an 'upside-down' trade in value as of Q3 2024, where consumers owe more on their loans than what the cars are worth.
Financial PerformanceHLLY delivered Q3 results that significantly missed consensus across the board and cut FY2024 and implied Q4 guidance.
Market ConditionsThe midpoint of Q4 2024 sales guidance implies sales decline -11.4% y-o-y, with management citing continued softness in the overall performance market, a challenging macroeconomic environment, and cautious consumer spending.