Automobile

#economy #business Subscribe to Join our community! The US auto market is undergoing a long-anticipated shift, marked by significant month-over-month price declines. Various factors, including an unexpectedly high increase in supply, are contributing to more pronounced price cuts in the final weeks of 2023. After experiencing consistent growth for over a year, recent data indicates that the vehicle sector is now in a bear market. Conditions are becoming more favorable for buyers, despite facing the highest borrowing costs in decades, according to Auto research firm Cox Automotive. In the second and third quarters, the market transitioned to a lower gear, and analysts now predict that an oversupply of vehicles will trigger a year-end price war, ultimately restoring affordability to somewh...