Drivers spend a total of $811 billion a year on auto loans and insurance combined; report breaks down the most expensive states and cities to own a car in the U.S.
Posts tagged as “inflation”
Attendees will learn how automotive aftermarket companies have adapted to higher interest rates and how economic conditions have changed over the last few years.
More than two-thirds of consumers say they’ve started delaying necessary expenses due to inflation, with 1 in 5 saying this includes auto repairs.
Cox Automotive Industry Insights team offers its expectations for the U.S. automotive market for the new year.
Inflation pressures and recession prospects pull sentiment lower, though focus on industry innovation remains as concerns continue over production shutdowns, weakening U.S. economy.
Study also reveals an overwhelming majority (78 percent) say rising gas prices are now impacting daily driving.
Retailers not hurt by recent economic headwinds such as higher interest rates, gas prices, inflation and declining GDP.
