Cars have become unaffordable for many Americans. Here’s what the numbers show.
At today’s prices and rates, even the average used vehicle can exceed some commonly used affordability measures.
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# Summary Rising vehicle prices and interest rates have pushed both new and used cars beyond traditional affordability thresholds for many American consumers, creating headwinds for auto manufacturers and dealers dependent on middle-market sales. This trend could pressure earnings for companies like Ford, General Motors, and Tesla, while potentially benefiting alternative transportation sectors and used-car marketplaces as consumers seek cheaper alternatives.
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