The biggest declines in sales are happening at the lower end, where buyers have fewer options as companies pull back on making cheaper cars.
U.S. auto sales are falling as vehicle prices climb, indicating that buyers at the lower end are getting squeezed out of the new car market, according to a new industry forecast.
Retail sales, which exclude sales to rental car companies and other commercial businesses, are expected to drop by about 5 percent to 2.9 million units. It's the first time first-quarter retail sales are projected to fall short of 3 million units in six years, said Thomas King, senior vice president of J.D. Power's data and analytics division.
While sales volumes are softening, especially for cheaper cars, customers are still paying remarkably high prices for cars, King added. Prices are hitting monthly records while retail sales of vehicles that cost under $25,000 are expected to fall 12 percent in the quarter, more than double the overall decline.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Taraji P. Henson wants Joe Biden to run for president: ‘Save us, save us, save us!’The 'Best of Enemies' actress also said she 'trusts' Bernie Sanders as a candidate because of his historic involvement in civil rights activism.
Consulte Mais informação »
US-China trade talks to resume after pause, US official saysTrade talks between US and Chinese teams will resume next week after a pause in negotiations, according to an administration official.
Consulte Mais informação »
Home | TheDream.US - TheDream.Us
Consulte Mais informação »
U.S. airlines sending teams to review Boeing 737 MAX upgrade this weekendThe three U.S. airlines that own Boeing Co's 737 MAX are meeting the U.S. m...
Consulte Mais informação »
Get Out! Jordan Peele's 'Us' shatters records with $70.3M
Consulte Mais informação »
Existing-home sales roar back in February, touching an 11-month highSales of previously-owned homes surged back, leaving forecasts in the dust, reaffirming strong demand for housing amid familiar headwinds.
Consulte Mais informação »
U.S. existing home sales surge, boosted by Fed's signal on ratesU.S. home sales surged in February to their highest level in 11 months, a sign t...
Consulte Mais informação »
China's Huawei sees little impact on sales from U.S. broadsideThe U.S. campaign against China's Huawei is having little impact on the com...
Consulte Mais informação »