• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Saturday, May 31
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

    May 29, 2025

    ‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

    May 29, 2025

    DeSantis Signs Bill Making Gold And Silver Legal Tender

    May 28, 2025

    John Deere Announces $20 Billion Plan To Build Up American Manufacturing

    May 28, 2025

    EV Startup Promised To Cut China Ties — Then Reportedly Shared US Data Anyway

    May 27, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Business»US Auto Sales Remain Stuck Below Pre-Pandemic Levels
Business

US Auto Sales Remain Stuck Below Pre-Pandemic Levels

October 1, 2024No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Used Car Prices Ease As Interest Rates Rise
Share
Facebook Twitter LinkedIn Pinterest Email

U.S. car sales remain stuck below pre-pandemic levels amid a struggling auto market, according to The Wall Street Journal.

Higher borrowing costs and increased prices on new vehicles are two key factors steering consumers away from buying, according to the WSJ. Many customers have looked to lease cars to avoid out-of-pocket costs and have turned to purchasing smaller and more affordable vehicle models.

“I don’t think that people really want these teeny, tiny vehicles, but it’s what they can afford right now,” Charlie Chesbrough, Cox senior economist, told the WSJ.

The average new car sold for $44,467 last month, which was down nearly 3% from last year, the WSJ reported, citing data from J.D. Power. That figure was, however, around $34,600 at the end of 2019.

“This market is still pretty unaffordable,” Jessica Caldwell, head of insights at Edmunds, a car-shopping website, told the WSJ.

The auto industry is not the only industry facing struggles with inflated costs, as homeownership costs have also spiked since the pandemic. Additionally, many Americans are having a hard time affording to make their car payments and credit card payments as inflation elevated under the Biden administration.

The inflation rate increased 2.5% annually in August, which was down from 2.9% in July. Inflation peaked at 9% in June 2022.

The Biden-Harris administration has been leading a massive push to transition to electric vehicles (EVs), including by putting strict tailpipe emissions regulations into place and spending billions on subsidies for the production of EVs.

The U.S. auto industry has been facing steep competition from China, and experts have flagged concerns that they are poised to take over the market. China’s hold on the EV market has been a problem for American automakers, with the country introducing export restrictions on graphite, a key material needed to manufacture EV batteries, in October 2023.

BURBANK, CALIFORNIA – JULY 24: A Tesla Cybertruck recharges at a Tesla dealership on July 24, 2024 in Burbank, California. (Photo by Mario Tama/Getty Images)

The Biden-Harris administration announced on Sept. 20 that it will grant several billion dollars to go toward manufacturing EV batteries to compete with China.

See also  Bed Bath & Beyond Files For Bankruptcy Amid Plunging Sales, Online Competition

Many automakers have reversed course on EV goals due to a lack of consumer demand. General Motors reported a $1.7 billion loss in January, citing problems with manufacturing that impeded the rollout of EVs in 2023. (RELATED: Major Auto Union That Brought The Whole Industry To A Halt Last Year Threatens To Launch Massive Strike Once Again)

Ford has also been struggling to boost sales on its line of EVs, and announced Monday that it would offer free chargers and home installations for EV buyers. The company announced in August that it was canceling plans to build a line of three-row electric SUVs.

All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.

Auto levels PrePandemic remain sales Stuck
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

DEI-Promoter Mark Cuban’s Mavericks Consistently Listed Among ‘Whitest Teams in NBA’

January 8, 2024

‘Fresh Prince’ Alum Janet Hubert Joins ‘Sweet Magnolias’ Season 3

July 6, 2023

‘A Huge Win’: Woke Climate Cartel Goes Belly Up

January 14, 2025

Numbers Don’t Lie: Data Barrage Shows Just How Hard It Is For Americans To Find Jobs Under Biden

January 7, 2025
Don't Miss

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

Business May 29, 2025

Consumers’ Research issued a “Woke Alert” on Thursday warning American shoppers that three European companies…

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,136)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,645)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Former NBA Player Michael Beasley Becomes A Champion For Mental Health

July 3, 2023

Sony expects profit to slip despite record PlayStation 5 sales

April 29, 2023

Oil prices rise 2% as market weighs supply cuts against economic outlook

July 4, 2023
Popular Posts

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.