Lenders: More rate cuts would help; Experts weigh in on future Fed moves, their effect on consumers

Future Federal Reserve interest rate reductions could improve consumer auto demand, executives from auto finance companies said last month, ahead of what is likely to be at least one more Fed cut before the end of the year. Auto dealers this summer called interest rates their No. 1 challenge with tw...

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Bibliographic Details
Published inAutomotive News Vol. 100; no. 7167; p. 9
Main Author Huetter, John
Format Journal Article Trade Publication Article
LanguageEnglish
Published Detroit Crain Communications, Inc 04.11.2024
Crain Communications, Incorporated
Subjects
Automobiles
Central banks
Consumers
Federal Reserve monetary policy
Finance companies
Forecasts and trends
Incentives
Inflation
Interest rates
Monetary policy
Profitability
Vehicles
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Summary:Future Federal Reserve interest rate reductions could improve consumer auto demand, executives from auto finance companies said last month, ahead of what is likely to be at least one more Fed cut before the end of the year. Auto dealers this summer called interest rates their No. 1 challenge with two-thirds of the industry reporting feeling hindered by the issue, according to the most recent Cox Automotive Dealer Sentiment Index. [...]the lender felt that cut was keeping vehicle prices elevated, said Anderson, who called the reduction a "very deterring factor" to auto sales.
ISSN:0005-1551
1557-7686