New-vehicle sales volume rose marginally by 0.1% in the second quarter compared to the previous year, despite discounts and slightly lower prices, with prices still significantly higher than pre-pandemic levels.
Analysts predict that car prices may decrease further due to stalled demand, possibly influenced by potential interest rate cuts to make car loans more affordable.
Sustained high prices and a 3% decline in car sales in June, attributed in part to a cyberattack on CDK Global, have contributed to the sluggish sales, with the future market recovery uncertain.
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