October's 6.7% drop followed a spike in late summer before subsidies expired.
The end of federal EV tax credits jazzed overall sales in July, August and September. But with EV sales likely to plummet, the industry faces increasing headwinds.
Almost 1 in 5 new car buyers in the fourth quarter took on a $1,000 or more monthly payment, according to the car shopping site Edmunds.
Demand is strong, especially for family vehicles. But supply? Not so much.
Automakers are still trying to meet demand after production dropped in the early days of the pandemic.
Many Americans who want to avoid public transit and ride-sharing are tempted to buy a car.
Many are questioning just how inclusive and diverse one of the Fed’s regular reports on the economy is.
Pickup truck sales are holding up better than some other vehicles, spurred by incentives like zero-percent financing deals.
In addition to a drop in demand, automakers have been forced to close factories.
Mass market models have suffered most.
