U.S. auto industry sees 20% sales surge in $20k-$30k range, prompting pricing adjustments.

The U.S. auto industry is witnessing a significant shift towards lower-priced vehicles, particularly in the $20,000-$30,000 range, which has seen over a 20% sales increase since pre-pandemic levels. This trend, fueled by economic uncertainty and high interest rates, is prompting automakers to adjust their sales strategies and offer steeper discounts on pricier models. If sustained, this shift could lower average vehicle prices and impact industry profits.

October 22, 2024
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