Friday, September 22, 2023
  • Login
CEO North America
  • Home
  • News
    • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • Opinion
  • Technology
  • Environment
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
No Result
View All Result
  • Home
  • News
    • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • Opinion
  • Technology
  • Environment
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
No Result
View All Result
CEO North America
No Result
View All Result

New Cars are Finally Back on the U.S. Market, But at a High Cost 

in News
New cars are finally back on the u. S.  market, but at a high cost 
Share on LinkedinShare on WhatsApp

After months of shortages, new cars are gradually reaching the U.S. market as supply chain disruptions improve. The concern now is affordability, as American consumers battle with inflation and general economic uncertainty. 

As the Federal Reserve increases interest rates, consumers are finding it more difficult to access financing plans. On top of other rising consumer costs, buying a new car is likely not at the top of everyone’s list. This comes at a time when the automotive industry was just getting back on its feet after the pandemic. 

Many automakers were relying on a post-pandemic boost in demand to sell more cars once they were back on U.S. lots. The country’s automotive inventory rose to approximately 1.43 million units at the end of September, the highest level seen since May 2021. This marks a 160,000-unit increase from August.

With a lower sales outlook, automakers may shift their strategy to focus on high-end car sales. Many firms have already been concentrating on delivering their most expensive vehicle models to balance profits against low demand. However, this has led many consumers to instead buy used vehicles. 

In the third quarter of 2022, the average financing for a new vehicle totalled $41,347, a record high. Earlier in the year, this figure stood at $38,315. The average monthly payment was $700, with 14% of consumers paying $1,000 a month or more. This is a trend that is unlikely to change until greater economic stability and lower levels of inflation are seen. 

Tags: Automotive industrynew carSupply chain

Related Posts

Us brings back free at-home covid tests
Innovation

US brings back free at-home Covid tests

Instacart loses ipo gains during second trading day
Business

Instacart loses IPO gains during second trading day

Fed puts off interest rate hike
Industry

Fed puts off interest rate hike

Us automakers layoff workers amid uaw strike
Industry

US automakers layoff workers amid UAW strike

Warner bros. Discovery adds live sports streaming to max
Business

Warner Bros. Discovery adds live sports streaming to Max

Retailers’ holiday hiring plans sink to lowest levels since 2008
Industry

Retailers’ holiday hiring plans sink to lowest levels since 2008

Disney to double resources toward entertainment parks
Business

Disney to double resources toward entertainment parks

Instacart closes 12% higher after nasdaq debut
Business

Instacart closes 12% higher after Nasdaq debut

Us homebuilder confidence tumbles
Industry

US homebuilder confidence tumbles

Clorox claims cyberattack has stalled production
Business

Clorox claims cyberattack has stalled production

No Result
View All Result

Recent Posts

  • Deep-sea mining could be source of minerals critical to Earth’s future
  • Neuralink to begin human trials
  • Anheuser-Busch ends its traditional clipping of Clydesdale tails
  • US brings back free at-home Covid tests
  • Instacart loses IPO gains during second trading day

Recent Comments

  • Juul Unveils Cutting-Edge Vaping Tech: Navigating FDA Uncertainties – iStreetPark Blog on Juul hopes FDA won’t ban its new high-tech vape
  • CEO North America, August - September 2023 - CEO North America on Interviews – CEO North America, October – November 2022
  • CEO North America, August - September 2023 - CEO North America on CEO North America, December 2022 – January 2023
  • CEO North America, August - September 2023 - CEO North America on Why Tech Companies Are Moving to Texas and Florida
  • CEO North America, August - September 2023 - CEO North America on CEO North America, February 2023 – March 2023

Archives

Categories

  • Art & Culture
  • Business
  • CEO Interviews
  • CEO Life
  • Editor´s Choice
  • Entrepreneur
  • Environment
  • Food
  • Health
  • Highlights
  • Industry
  • Innovation
  • Issues
  • Management & Leadership
  • News
  • Opinion
  • PrimeZone
  • Printed Version
  • Technology
  • Travel
  • Uncategorized

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

  • CONTACT
  • GENERAL ENQUIRIES
  • ADVERTISING
  • MEDIA KIT
  • DIRECTORY
  • TERMS AND CONDITIONS

Editorials – stuart.james@ceo-na.com

Advertising – media@ceo-na.com

NEW YORK

110 Wall St.,
3rd Floor
New York, NY.
10005
USA
+1 212 432 5800

 

MEXICO CITY

Paseo de la Reforma 296,
Floor 38
Mexico City
06600
MEXICO

  • CONTACT
  • GENERAL ENQUIRIES
  • ADVERTISING
  • MEDIA KIT
  • DIRECTORY
  • TERMS AND CONDITIONS

Editorials –
stuart.james@ceo-na.com

Advertising –
media@ceo-na.com

NEW YORK

110 Wall St.,
3rd Floor
New York, NY.
10005
USA
+1 212 432 5800

MEXICO CITY

Paseo de la Reforma 296,
Floor 38
Mexico City
06600
MEXICO

CEO North America © 2022 - Sitemap

No Result
View All Result
  • Home
  • News
    • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • Opinion
  • Technology
  • Environment
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In