Reported about 1 month ago
Lower-priced new cars are becoming increasingly popular in the U.S., particularly among buyers seeking affordability amidst rising costs. With the average new vehicle price soaring over $47,000, many consumers are opting for compact SUVs and vehicles in the $20,000 to $30,000 range. This trend, driven by economic uncertainty and high interest rates, has forced automakers to rethink their strategies as sales of compact vehicles show significant growth, marking a notable shift from the pandemic-era focus on larger, pricier models.
Source: YAHOO