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t. e. The 2008–2010 automotive industry crisis formed part of the 2007–2008 financial crisis and the resulting Great Recession. The crisis affected European and Asian automobile manufacturers, but it was primarily felt in the American automobile manufacturing industry. The downturn also affected Canada by virtue of the Automotive Products ...
Further, the volume of cars sold in the U.S. was significantly tied to home equity lines of credit, with 24% of sales financed this way in 2006. [10] When the availability of these loans suddenly dried up in 2008 due to the subprime mortgage crisis, vehicle sales declined dramatically, from 17 million in 2006 to 10.6 million in 2009. [11]
in The structure and evolution of recent US trade policy (U of Chicago Press, 1984) pp. 35–66. Goldberg, Penny Koujianou. "Trade policies in the US automobile industry." in Japan and the World Economy 6.2 (1994): 175–208. Gustin, Lawrence R. "Sights and Sounds of Automotive History" Automotive History Review (2010+, Issue 52, pp 4–8 ...
The Detroit automaker shrugged off a hit from a costly auto strike to report U.S. new vehicle sales of about 2.6 million units for 2023, up 14.1% from 2022, while Toyota's annual sales rose 6.6% ...
GM forecasts total US auto industry sales to hit 16 million in 2024, which would be a strong improvement post-pandemic; only 13.4 million vehicles were sold in 2022, the lowest in a decade.
Since 2022, the higher rates have pushed the average new vehicle loan payment up $108 a month to $967, a 12.5% increase, the analysts found. The analysts estimate that for every 100bps rate cut ...
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