"The auto industry is racing to the safe harbor of pent-up demand that could carry sales for years to come, while the looming economic storm clouds are gathering that could destroy much of that demand," said Tyson Jominy, J.D. Power vice president of automotive data & analytics.
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Thank you…
The Fed just hiked interest rates by the largest amount since ‘94 and the forecast for GDP growth been reduced significantly. These interest rates affect auto loans like the ones that allow people to over-spend on pricy trucks and SUVs which are bread and butter for General Motors.
Should be “…affect auto loans…”
The Fed just hiked interest rates by the largest amount since ‘94 and the forecast for GDP growth been reduced significantly. These interest rates effect auto loans like the ones that allow people to over-spend on pricy trucks and SUVs which are bread and butter for General Motors.