New cars are slowly becoming more widely available, as supply chain bottlenecks finally start to ease. But now, an increasing number of Americans might not want them or be able to afford them, CNBC reports.
With the Federal Reserve aggressively hiking interest rates to fight inflation, consumers are finding that the cost of financing a new car is suddenly a lot higher than it was even earlier this year. That’s expected to cut demand and add new pressure to the auto industry, which had been struggling with depleted inventories during the pandemic.
“The irony for the auto market is that just as the industry is poised to start seeing volumes increase from supply-constrained recession-like low levels, the rapid movement in interest rates is reducing demand,” Cox Automotive Chief Economist Jonathan Smoke wrote in a blog post. Read more at CNBC.
For the Orlando/Dubai crowd, this is not a problem. Money is not an issue.
Who is happy one who is happy with his chelek. Many askanim go on trips to rejuvenate
So only the rich “deserve” and “need” a vacation but not those who truly struggle financially?!
Well put.
We were just klaping “al chait” a few days ago for various aveiros related to not fargining yenem. We don’t know Hashem’s cheshbonos, we don’t know what tzaros Mr. Gvir may be suffering from, so please, let’s look at yenem with an ayin tova.
Let the poor suffer in silence. Don’t poke their eyes out with monster mansion homes and the most expensive vehicles. When the time comes, the rich die just like everybody else. Even they don’t live forever, vaccinated or not.
Sounds like envy to me
Gas cars will become obsolete in the very very near future.