“US auto sales are falling as prices for new vehicles jump to highest ever”
March 27, 2019
“U.S. auto sales are falling as vehicle prices climb, indicating that buyers at the lower end are getting squeezed out of the new car market, according to a new industry forecast.
First-quarter auto sales are expected to drop by nearly 2.5 percent from a year earlier, to 4 million units, according to J.D. Power and LMC Automotive.
Retail sales, which exclude sales to rental car companies and other commercial businesses, are expected to drop by about 5 percent to 2.9 million units. It’s the first time first-quarter retail sales are projected to fall short of 3 million units in six years, said Thomas King, senior vice president of J.D. Power’s data and analytics division…”
https://www.cnbc.com/2019/03/26/us-auto-sales-are-falling-and-cars-are-more-expensive-than-ever.html
Maybe the auto industry should try lowering prices instead of raising them. The average person loves discounts. I don’t think they like price increases that much.