Sales rates of new cars in the United States have reportedly dropped to levels associated with economic recessions, a dire warning from experts as the U.S. economy continues to get pummeled by inflation, supply chain crises and other issues.
Analysts with the New York-based RBC Capital Markets told MarketWatch this week that “the May U.S. light-vehicle seasonally adjusted annualized rate of sales came in at 12.8 million vehicles, below RBC’s forecast of 13.4 million vehicles and down from April’s 14.6 million.”
“We have not yet seen any evidence of demand destruction,” analyst Joseph Spak told the publication. “But, if a recession […]
Read the rest of this story here: justthenews.com
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