Auto industry sees an ‘affordability shift’ in car sales

Oct 22, 2024 · Auto industry sees an ‘affordability shift’ in car sales. ... To buy a new car at that price, an average buyer would have to spend $737 a month, if financed at today’s average loan rate of 7 ...

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Auto Industry Sees An ‘affordability Shift’ In Car Sales

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fastcompany.com

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Consumers Shift To Smaller, Cheaper Vehicles In 2024 As …

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Cox predicts when fourth-quarter and full-year sales results come out in early January, General Motors will be the sales winner with a 4.2% increase in sales to 2.7 million new vehicles sold in ...

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Auto Industry Sees ‘affordability Shift’ - The Northwest Arkansas ...

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Oct 27, 2024 · Auto industry sees ‘affordability shift’ ... To buy a new car at that price, an average buyer would have to spend $737 a month, if financed at today's average loan rate of 7.1%, for …

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CarGurus Examines 2024 Auto Market Influences And ... - Markets …

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Dec 12, 2024 · While overall used car inventory stabilized in 2024 (down only 1%), 2021 model-year inventory dropped by nearly 22%, and 2020 models saw a 17% decline. These gaps will …

businessinsider.com

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Lower-priced New Cars Are Gaining Popularity, And Not Just For Cash ...

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Oct 22, 2024 · An “affordability shift” is taking root in the U.S. auto industry. ... To buy a new car at that price, an average buyer would have to spend $737 a month, if financed at today's average …

independent.co.uk

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High Prices Drive Car Shoppers To Think Smaller - Forbes

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Dec 18, 2024 · “A positive shift for 2025 is that the inventory of new vehicles priced under $30,000 increased by 42% year over year in November, delivering some comfort for budget-conscious …

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Affordability Crisis: ‘Alarming’ New Car Prices Push Buyers Toward …

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4 days ago · In the Bay Area last fall, the average used car sold for $30,868, and the average new car sold for $47,940. This year, used car sale prices fell slightly to $30,377 in the Bay Area, …

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What US Buyers (and Investors) Can Expect From The Auto Industry …

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3 days ago · S&P Global Mobility projects US sales will hit a seasonally adjusted annual rate (SAAR) of 16.2 million units in 2025, an estimated increase of 1.2% from a projected 16.0 …

yahoo.com

FAQs about Auto industry sees an ‘affordability shift’ in car sales Coupon?

Is a 'affordability shift' taking root in the auto industry?

An "affordability shift" is taking root in the U.S. auto industry, according to auto analysts. The trend is being led by people who feel they can no longer afford a new vehicle that would cost them roughly today's average selling price of more than $47,000 US — a jump of more than 20 per cent from the pre-pandemic average. ...

What is a 'affordability shift'?

An “affordability shift” is taking root in the U.S. auto industry. The trend is being led by people who feel they can no longer afford a new vehicle that would cost them roughly today’s average selling price of more than $47,000 — a jump of more than 20% from the pre-pandemic average. ...

Are consumers shifting to smaller & more affordable cars?

It appears consumers are shifting to smaller, more affordable products.” To illustrate the point Chesbrough cited the Chevrolet Trax, the lowest priced vehicle in the General Motors Co. lineup, as the automaker’s biggest volume gainer. ...

Will lower car prices slow auto industry profits?

With buyers confronting inflated prices and still-high loan rates, sales of new U.S. autos rose only 1 per cent through September over the same period last year. If the trend toward lower-priced vehicles proves a lasting one, more generous discounts could lead to lower average auto prices and slowing industry profits. ...

What's going on with the auto industry this year?

This year was a mixed bag for the large automakers, with sales in the US climbing and prices holding steady for the most part. But changes are coming for the industry — whether on the domestic front with a new administration or the threat of cheaper, foreign competition. ...

Why did the auto industry fall in 2020?

The proportion started to fall in 2020, when the pandemic caused a global shortage of computer chips that forced automakers to slow production and allocate scarce semiconductors to more expensive trucks and large SUVs. As buyers increasingly embraced those higher-priced vehicles, the companies posted robust earnings growth. ...