ASSOCIATED PRESSThe unseasonably cool spring is turning out to be an apt metaphor for a likewise chill in U.S. new vehicle sales as affordability remains challenging and dependence on fleets has declined. Linkedin.com“Market forecasters have been expecting the market to slow as higher vehicle prices and higher borrowing costs squeeze many potential buyers. It was also a tough month for Mazda North America which reported sales were down 14.5% last month compared to April, 2018. As further evidence, though, of many consumers being priced out the new vehicle market, Mazda reported sales of certified pre-owned vehicles were up 27% compared with last April and 20% year-to-date. Honda brand was off 0.2%, with passengers car sales declining 3.4% despite a 0.1% bump for Civic.

Source: Forbes May 01, 2019 18:59 UTC