US car sales have hit a snag, slowing down by almost 7% in October. This drop marks the fewest new car purchases in 17 months, according to data from Ward’s Intelligence. Several factors may be contributing to this decline.
In the spring and summer, Americans rushed to buy new cars before US tariffs expired and tax breaks ended. However, with these incentives gone, buyers seem less eager to make a purchase. The trend is reminiscent of a broader economic slowdown.
The question remains: is the economy also slowing down?
Source: https://www.marketwatch.com/story/car-sales-move-into-the-slow-lane-is-the-economy-downshifting-too-6754ad39