New-vehicle affordability at highest in 3 years
Vehicle Affordability Index decreased 14.3% YoY
New-vehicle affordability improved in August to its best level since May 2021 as auto loan interest rates declined and incentives picked up. The weeks of income needed to purchase a new vehicle landed at 36.1 weeks in August, down 1.9% from a revised July reading, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index […]
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