Auto Consumer Affordability Brightens
Average payment at two-year low while income needed to buy the least in three-plus years.
Average payment at two-year low while income needed to buy the least in three-plus years.
Toyota, trucks and SUVs dominate list of those with greatest chance of hitting 250K miles.
Affordability metrics improved in May as lending costs ebbed, finances flowed more freely.
Though days’ supply far exceeds a year earlier, it fell for the month.
Used sales, buoyed by EV shoppers, cut into supply while harsh winter put a damper on new-vehicle business, padding inventory.
Average for new and used vehicles decreased in the third quarter.
August supply improves to highest level in nearly 2 ½ years, Cox Automotive says.
Income growth, falling prices outweigh interest rate hikes, Cox says.
Analysts predict further declines while auto retailer CEOs predicted sustained gross profits higher than 2019.
Study finds that bells and whistles have plenty of downsides.
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