One million Americans have vanished from the new-car market — and it’s exposing a chilling US middle-class crisis
View original at finance.yahoo.comOne million Americans have vanished from the new-car market — and it’s exposing a chilling US middle-class crisis Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below…
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Automakers have little incentive to produce cheaper vehicles because selling high-margin trucks and SUVs is more profitable than chasing volume through discounts
60% confidenceUS new-vehicle sales are expected to remain at approximately 16 million or fewer this year, with no return to the prior pace of 17 million expected until much later in the decade if at all
60% confidenceApproximately one-quarter of vehicle models in the US are priced between $25,000 and $35,000, while a larger share now costs more than $55,000
60% confidenceThe vehicle affordability crisis is a real threat to the auto industry
60% confidenceThe inability of Americans to buy new cars is proof of something fundamentally wrong in the general economy
60% confidence