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Rising interest rates to further stifle affordability

Auto interest rates are up 16% since the end of December 2021

Joey PizzolatobyJoey Pizzolato
April 20, 2022
in Risk Management
Reading Time: 2 mins read
0

Rising interest rates for auto loans are set to further suppress vehicle affordability as new vehicle production remains hampered due to continued COVID closures and the war in Ukraine, even as average transaction prices (ATP) decline. The number of weeks of income it takes a median-income household to purchase a new vehicle clocked in at […]

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Tags: affordabilityCox Automotiveinterest ratesMoody's AnalyticsPremium
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