Rising interest rates have created affordability challenges - TrueCar

TrueCar

29/09/2022 19:37

** Automotive marketplace TrueCar Inc  TRUE.O  expects total
new vehicle industry sales to reach over 1.1 mln units in
September 2022, up 13% from a year ago
    ** "This month we're seeing Honda, Nissan and General Motors
gaining traction from previous months' sales," said Justin
Colon, vice president of OEM Solutions at TrueCar
    ** Used vehicle sales for September are expected to reach 3
mln, down 11% from a year ago 
    ** "With increasing interest rates, affordability is being
tested," said Zack Krelle, industry analyst at TrueCar.
    ** Shares of co down 5.7% at $1.54 in mid-day trade
    ** YTD, shares down ~54% 
 (Reporting by Priyamvada C in Bengaluru)
 ((Priyamvada.c@thomsonreuters.com))