Cars, Trucks Back In Showroom, But Interest Rates Too High
View Source | October 7, 2022 8:46 am
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- New cars are finally back in stock — but Americans might not be able to afford them.
- With the Federal Reserve aggressively hiking interest rates to fight inflation, consumers are finding that the cost of financing a new car is suddenly a lot higher than it was even earlier this year. That’s expected to cut demand and add new pressure to the auto industry, which had been struggling with depleted inventories during the pandemic.
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