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US Auto Market Facing Lowest Sales in a Decade

Started by Epoch-Times-Bot, Oct 08, 2022, 11:51 PM

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Epoch-Times-Bot

Oct 08, 2022, 11:51 PM
US Auto Market Facing Lowest Sales in a Decade

The auto sector, which had been struggling with depleted inventories during the pandemic, is now dealing with a sales crisis.
Car sales have been softening this year because of inflation, weak consumer confidence, and growing concerns about the economy.
Despite the fact that cars have become more widely available with supply chain bottlenecks easing, a rise in interest rates has countered demand.
Available U.S. car stocks rose 160,000 to about 1.43 million units at the end of September, the highest level since May of last year, according to Bank of America.
However, many Americans are not able to afford new cars at this time, due to high borrowing rates and gas prices....

Source: US Auto Market Facing Lowest Sales in a Decade

xenzol

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Aug 04, 2024, 08:40 AM
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