American Consumers Have Had It With High Car Prices [View all]

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For years it has seemed no sticker price was too high for American car buyers. Even as average new car prices approached $50,000 this year, dealers fretted more over depleted inventories than losing customers to sticker shock.

Those days are coming to an end.

Increasingly stretched consumers are starting to draw the line on what they will pay for a new car, according to dealers, analysts and industry data.

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“People are asking, ‘How can I afford this?’” said Robert Peltier, who owns dealerships in East Texas. He said traffic, while still solid, has slowed at his dealerships and more customers are gravitating toward less-costly cars such as the pint-size Chevrolet Trax. “There are people who are in debt and living paycheck to paycheck.”

https://www.msn.com/en-us/money/personalfinance/american-consumers-have-had-it-with-high-car-prices/ar-AA1RrZab