Auto Sales Decline Amid Economic Uncertainty and Elevated Vehicle Prices

U.S. auto sales have declined following a surge in April and May. Car shoppers are being deterred by both high vehicle costs – with the average cost of a new car climbing 1 percent year-over-year to $48,799 in June – and an uncertain U.S. economic outlook. The average monthly car payment was $747 in June, up $22 from a year earlier, squeezing U.S. consumers further. 

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