Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

The pandemic may have changed car shopping in the U.S. for good

The balance of power may have shifted away from buyers, putting dealers and makers in more control


October 17, 2022

Gene J. Puskar | Associated Press

Analysts expect a turbulent year ahead in the American car market. Here, new cars were being delivered to a dealer in Pittsburgh last month.

Don't expect car prices to drop significantly any time soon.

Instead, new-vehicle prices - already at record highs - will remain elevated, automotive experts say. At the same time, used-vehicle pricing should moderate as the Federal Reserve continues raising interest rates to curb inflation.

Analysts are closely tracking vehicle demand, with consumer sentiment low amid signs of a worsening economy and a resurgence in gas prices.


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