FROM CNBC: New cars are finally back in stock — but Americans might not be able to afford them
Is pent up demand a fair match for the current financial climate? This year, federal interest rates have grown to 3.25%, average new vehicle financing now exceeds $41,300, and the number of consumers making payments of $1,000/month is at a record high.
FROM WARDS AUTO: Auto dealers aid employees, customers in Ian’s wake
Most southern storefronts and their inventory weathered the recent storm, but OEMs, dealerships, and local dealer associations are banding together to support industry staff and customers impacted by the natural disaster.
FROM AUTO REMARKETING: September marked 1st year-over-year wholesale vehicle price drop in 28 months
After two years of inflated prices, used inventory is officially a depreciating asset again. Wholesale vehicle values fell 3.0% month-over-month and 0.1% year-over-year last month – the first yearly decrease since the height of the pandemic.
FROM CAR AND DRIVER: GM goes into the energy business – here’s what it will do for EV owners
Manufacturers continue to go above and beyond to make the case for electric vehicles. The OEM’s latest initiative strives to lower at-home energy costs and expand battery-powered capabilities, but will consumers buy in?