Unaffordable Prices and Elevated Interest Rates Impact New Car Demand

Auto dealers are seeing an uptick in inventory while many consumers remain on the sidelines, deterred by the toxic combination of high interest rates and elevated inflation. In response to what seems to be a more pronounced slowdown, dealers are slashing prices and increasing incentives to stimulate demand this summer.  A new report from the Financial Times, citing data from Motor Intelligence, with manufacturers such as Hyundai, General Motors, and Volkswagen, shows that the average incentive package to sweeten the deal jumped 53% in June,…