Auto industry faces deflationary spiral due to car buyers delaying purchases amid high interest rates and price volatility.
Auto industry faces deflationary 'spiral' due to car buyers delaying purchases amid high interest rates and price volatility. High interest rates averaging between 6.7% and 11.9% deter shoppers, leading to a potential "deflationary spiral" and putting pressure on vehicle pricing. The average car price in May ($48,389) is down from its peak at the end of 2022, but delayed purchases can lead to a recession for the auto industry.
June 15, 2024
4 Articles