Gross domestic product grew by 2.3 percent in the fourth quarter, capping a more robust year than expected. Policy uncertainty clouds the outlook.

The market perked up late in the year when interest rates eased, but affordability challenges yielded the fewest transactions since 1995.

More car buyers are expected to eventually pick battery-powered cars and trucks as prices fall and technology improves, even if Biden-era incentives disappear.

The electric-car company led by Elon Musk no longer has the market to itself. Investors are focusing on autonomous driving and other new technologies.