Affordability is an issue car dealers have been battling daily over the past couple of years as retail prices for used and new vehicles soared to unprecedented highs.
This year, though, those prices have been falling steadily while, as noted by Cox Automotive’s analysts in their 2024 midyear review, consumers’ incomes are rising. And yet sales growth has been slow.
Turns out it’s not just about the price of the car …
Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.