Data shows car buyers are putting less money down and turning to longer loan terms at record levels as affordability pressures persist.
Posts tagged as “new car sales”
Data shows average monthly payments and the average amount financed for new-car purchases also reached new record highs in Q4.
"The $20,000-vehicle is now mostly extinct, and many price-conscious buyers are sidelined or cruising in the used-vehicle market," says analyst.
Overall, new vehicle registrations among all brands, including hybrids, show an increase of 8.3 percent growth from this time last year.
Despite recent low new-vehicle sales, several key factors will fuel an increase, not a decrease, of annual aftermarket volume.
While the projected monthly volume remains familiar, retail sales levels reflect sustained advances.
Despite high interest rates and inflation, registrations are on track; Tesla's sales are facing mounting challenges with significant declines.
