New Vehicle Buyers Face Squeeze as Interest Rates Climb
Coverage of the 2023 Automotive Outlook Conference
New Vehicle Buyers Face Squeeze as Interest Rates Climb
Affordability is a challenge for carmakers and their customers who must contend with rising interest rates and falling trade-in values. Those two factors are combining to reduce their purchasing power as the price of new vehicles have reached an all-time high.
Speaking during the annual Society of Automotive Analysts Automotive Outlook Conference, Colin Langan, a senior analyst with Wells Fargo Bank, noted the price cuts announced by Tesla and Ford indicate “the pricing part is over” for manufacturers and dealers
