Affordable Vehicles Surge in U.S
This is a news story, published by VOA, that relates primarily to Stellantis news.
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vehicle pricesVOA
•Lower-priced new cars are gaining popularity, and not just for cash-poor buyers
73% Informative
An “affordability shift” is taking root across the auto industry, auto analysts say.
The trend is being led by people who feel they can no longer afford a new vehicle that would cost $ 47,000 .
To buy a new car at that price, an average buyer would have to spend $ 737 a month, if financed at today 's average loan rate of 7.1% ..
Many buyers who are willing to pay nearly $50,000 for a new vehicle had already done so in the past few years .
The shift has left some automakers overstocked with too many pricier trucks and SUVs.
Some, like Stellantis , have warned that the shift will eat into their profitability this year .
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