“After years of post-pandemic revenge spending, consumers are becoming more prudent as they face economic uncertainty, still-high interest rates, and vehicle prices that remain elevated,”

Although the U.S. economy is fairly strong, Americans’ perceptions and priorities have changed, leaving many still uncertain, especially in an election year. 

Vehicle affordability in the U.S. is “very stretched”

Cars are big ticket items, making this trend more apparent.

Elsewhere in the market you may see a widening divide between luxury and value with a shrinking middle market.