LotLinx Weekly News Vol. 245: Will new car sales hold a candle to last year?

FROM REUTERS: U.S. new-vehicle sales to fall in December as high prices deter buyers

The final month of the year is expected to end with retail sales down 2.8%, while total new vehicle sales should be up 5.3% year-over-year. Global vehicle sales are on pace with 2021, with over 80 million new units sold worldwide.

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FROM BUSINESS INSIDER: How the pandemic might have killed the Christmas car deal

Are cash-back and price cuts a thing of the past? For the third holiday season, the majority of consumer incentives revolve around financing and interest rates as opposed to the major discounts and blowout sales synonymous with this time of year. 

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FROM WARDSAUTO: Consumers optimistic about U.S. economy

According to a financial survey, over 80% of U.S. shoppers are buying into the rumors of recession. However, over half remain optimistic about the economy and their personal finances, with Millennials and Gen Z leading the pack in positivity.

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FROM CNBC: Auto executives are less confident in EV adoption than they were a year ago

While U.S. automakers are diving head first into electrification, EV sales expectations have declined from 65% of the market by 2030 to only 35%. Regardless, over 80% of auto executives are confident in overall profit growth over the next five years.

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