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One Million New-Car Buyers Are Gone and They're Not Coming Back Soon

One Million New-Car Buyers Are Gone and They're Not Coming Back Soon

  • Publish date: since 4 hours Reading time: 1 min read
One Million New-Car Buyers Are Gone and They're Not Coming Back Soon
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The challenge in the automotive industry is not just a supply chain or product lifecycle one; it is also a consumer preference one. There have been an increasing number of potential customers who have been priced out of the new-car market, and they are not expected to be back anytime soon. Increasing vehicle costs due to rising prices, higher interest rates and increased ownership costs have left consumers with a gap between cost of vehicles and affordability. The consequence of this change will be a shift that may change the face of the industry for years to come.
 

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