Auto Shoppers' Woes to Continue in 2023
More cars are available, but record prices and rising interest rates will challenge customers.
More cars are available, but record prices and rising interest rates will challenge customers.
GM and Ford top execs say U.S. consumer demand for cars and trucks remains strong, despite soaring interest rates and gas prices.
The average price of a new car hit $45,000 in September and reached $25,000 for the average used car, according to Kelley Blue Book.
Current inventory levels rest at a 31-day supply for U.S. dealers, reports Cox Automotive subsidiary vAuto.
U.S. consumer demand for new vehicles began to thaw in March, especially for luxury cars and big trucks, but not every carmaker participated in the uptick, reported Reuters. New-vehicle sales rose 0.6 percent from a year ago, to 1,545,802 vehicles, industry consultant Autodata Corp said. Automakers had one fewer day and one fewer weekend in ... Read More »
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