New Car Sales Dip in the U.S.
» Posted November 30, 2022 • Resources | Share This Post
The latest new car sales numbers are in and they paint a mixed picture for auto manufacturers.
New car sales declined slightly across the country in the last quarter, according to an Associated Press report. Sales ticked down by just less than 1 percent over the three-month span, with dips spread among many auto manufacturers.
General Motors was the big exception. The company sold more than 555,000 cars from July through September, up nearly a quarter from the same stretch last year. GM credited a breakthrough in the semiconductor shortage and increased inventory on dealer lots for the boost.
There was also some good news for other automakers: Sales climbed over the last month of the quarter.
“Many companies, including GM, said sales rose in September as shortages of computer chips and other parts started to ease and auto factories were able to produce more, increasing vehicle supplies,” Tom Krisher writes for the AP.
Still, high car prices and increasing interest rates could give some buyers cold feet about purchasing a new set of wheels.
New cars went for more than $45,000 on average in September. That is the fourth-highest month on record, according to J.D. Power. Loans on new car payments hit 5.7 percent over the quarter, on average, up 4.3 percent from the same time last year.
“I think it's finally taking a turn for the worse, the uneasiness with interest rates, with inflation," Ivan Drury, director of insights for Edmunds.com, told the AP. “The potential pool of consumers who are flush with cash or don't care what they pay, that pool is going to shrink rapidly once these other factors take effect.”
Car Defects and Lemon Law Rights
At the same time, carmakers continue to have trouble ensuring that new vehicles are actually safe to drive.
Auto manufacturers recall millions of vehicles around the world every year, citing a wide range of defects that pose serious safety threats. These recalls are often not announced until long after the defective cars have left dealership lots after being sold to unsuspecting buyers.
That is where the California lemon law comes in. Car owners in the Golden State have some important rights and protections when it comes to defective vehicles.
The lemon law generally requires car manufacturers to perform a wide range of repairs on vehicles while they are under warranty. It also forces the companies to buy back (or replace, in some cases) cars that they cannot or will not fix. That includes covering the vehicle’s purchase price and financing costs, as well as rental car and other related expenses.
Our California Lemon Law Attorneys Can Help
If you are stuck with a lemon or locked in a dispute with a car manufacturer over repairs, the California lemon law attorneys at Bickel Sannipoli APC can help.
Call us at (888) 800-1983 or contact us online to speak with a lemon law attorney today.
