US Auto Sales Set to Slow Amid Higher Rates, Dealer Cyberattack

From bnnbloomberg.ca

The rebound in US auto sales likely lost momentum last month as high prices, steep borrowing costs and cyberattacks that hobbled dealerships across the country weighed on deliveries. Vehicle sales will probably slow to an annualized rate of around 15.8 million vehicles in June, based on a consensus of five market researchers, down from 16.1 million a year ago. Some analysts see the pace of sales holding steady, as shoppers have returned to showrooms since the Covid-19 pandemic disrupted supply chains and caused an inventory shortage. Affordability has been the biggest hurdle for consumers, driven by higher interest ... (full story)