Reported 12 months ago
Despite larger discounts and slightly lower prices, U.S. new-vehicle sales only increased by 0.1% in the second quarter compared to the previous year. The auto industry analysts anticipate further price drops and the possibility of interest-rate cuts to boost sales. The market was affected by cyberattacks and delayed deliveries, resulting in inventory buildup, especially for higher-priced vehicles. Consumers are expecting bigger discounts and are delaying purchases, particularly for smaller, less expensive models and gas-electric hybrids.
Source: YAHOO