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. +

The Commerce Department reports the U.S. real gross domestic product increased 3.1% year-over-year in the third quarter, with retail trade serving as the lead contributor in 39 states. +

Declining interest rates, increased incentives and personal income gains have led to the best new-vehicle affordability level since August 2021. +