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More than one out of five new vehicles sell for more than $60,000, according to Edmunds. That's up 7% compared to prepandemic 2019.
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The youngest generation of car buyers is more likely to finance less expensive vehicles, more than half of generation Z consumers borrowing less than $25,000.
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The Massachusetts attorney general cautioned the state’s automotive dealers to be upfront with the consuming public about their vehicle prices or risk punishment.
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Audi is preparing two SUV models for the American market with the automaker’s adaptive LED headlights. Its technology is designed to reduce brightness for other drivers, a growing complaint among U.S. motorists.
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As legacy automakers, mostly in the U.S. and Japan, have revised their 2030 electric-vehicle sales targets and shifted to a hybrid focus, they risk falling behind new market leaders.
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May averages show that combined circumstances gave auto consumers slightly better buying power for the month, though average prices were up year-over-year.
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Healthy May sales cut into inventory as automakers kept a tight reign on supply, though some brands ended the month with excess units on the ground.
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Younger generations are feeling more positive about their financial futures and current affordability pressures than older generations, according to recent TransUnion data.
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For the first time this year, new-vehicle demand rose in May, up nearly 6% year-over-year, according to CarGurus’ Intelligence Report.
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May access opens up, as risk segments figured largely in the increased availability, Cox Automotive reported.
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