Automakers continue to navigate significant cost pressures and there's still a substantial gap between prices and what many households can comfortably afford.
Posts tagged as “affordability”
Consumers are increasingly gravitating toward more affordable vehicle models, pressured by average new vehicle transaction prices holding at or near $50,000.
Shoppers continue to lean toward larger, more expensive vehicles and are using longer-term loans to offset rising monthly costs for affordability.
Goodyear Auto Service, Express Oil Change and Tire Engineers, and Meineke Car Care Centers rank highest in their respective segments in customer survey.
In addition to larger profit margins on used vehicles, dealerships also see an opportunity to expand their service bay business.
By 2030, about 50 percent of Ford’s global volume will be hybrids, extended-range EVs and electric vehicles, versus 17 percent today.
More than 1 in 5 car loans stretch 7 years or longer as shoppers are taking on larger loans than ever before with less money down.
