The surge in interest rates has resulted in record-high loan payments for consumers who have borrowed money to purchase new cars. With one in five borrowers owing at least $1,000 a month, the combination of surging interest rates and costly inventory has made vehicles less...
American consumers may not want new cars, but they apparently need them. As Bloomberg News reported Monday (Oct. 2), car buyers are visiting dealerships “out of sheer necessity,” replacing vehicles that are — on average — a dozen years old in spite of high interest rates and prices. “You’re...
The Bureau of Labor Statistics (BLS) published a little-noticed piece last month analyzing the part auto dealers’ markups played in new car price tag inflation during the post-pandemic recovery. With their significant part in the supply chain through maintaining inventory of cars awaiting sale, dealerships were...
A spike in the price of new cars has both buyers and auto dealers worried. As The Wall Street Journal (WSJ) reported Saturday (Feb. 4), some dealers say customers were already hesitant due to high prices and a shortage of affordable cars. Rising interest rates...
May 14, 2024
Carvana reportedly expects that as more new vehicles are built, the company’s used car business will benefit. “There will likely be much more car production, and that will probably bode well,” Carvana CEO Ernest Garcia III told reporters Tuesday (May 14) at an Automotive Press Association event near Detroit, Bloomberg reported Tuesday. Online car shopping guide Edmunds said in April that new […]
October 06, 2023
The surge in interest rates has resulted in record-high loan payments for consumers who have borrowed money to purchase new cars. With one in five borrowers owing at least $1,000...
October 02, 2023
American consumers may not want new cars, but they apparently need them. As Bloomberg News reported Monday (Oct. 2), car buyers are visiting dealerships “out of sheer necessity,” replacing vehicles that are...
February 05, 2023
A spike in the price of new cars has both buyers and auto dealers worried. As The Wall Street Journal (WSJ) reported Saturday (Feb. 4), some dealers say customers were...
