Cox Automotive and Moody’s Analytics’ New Vehicle Affordability Index improved to 37.7 in January as Americans earned higher incomes and prices normalized following strong year-end sales. +
Kelley Blue Book analysts say Americans spent an average of $49,740 on their new vehicle purchases in December, threatening a record set during peak pandemic-era inventory shortages. +
The latest new-vehicle sales and finance reports from Cox Automotive show strong sales and credit availability as incentives offset higher prices to sustain affordability. +
The Federal Reserve’s recent rate cuts in addition to an increase in automakers’ incentives are helping to stabilize the auto market, a good sign for dealers and consumers. WardsAuto's Nancy Dunham reports.+
Declining interest rates, increased incentives and personal income gains have led to the best new-vehicle affordability level since August 2021. +
