Summary
- Automakers’ focus on higher-end US models has driven average selling prices to $47,000
- Many lower and middle-income car shoppers have been relegated to the used-car lot
- The affordability problem is a risk to US carmakers as Chinese brands expand globally
(Reuters) – The U.S. car business is grappling with a stubborn affordability problem, one that threatens to relegate more Americans to the used-car lot and leave automakers vulnerable to lower-priced rivals. Continue reading “Prices for new cars have soared. Here’s one big reason why.”
