Car Prices Are About To CRASH The Auto Industry Is Getting DESTROYED!
The U.S. car market has shifted into lower gear in only a matter of months. After average car prices hit record highs as recently as last summer, some analysts now predict that an oversupply of vehicles will lead to a price war that sends prices plummeting.
A report from UBS estimates that global car production will exceed sales by 6% this year, leaving an excess of 5 million vehicles that will require price cuts to get sold off of lots, Yahoo Finance reported. Those price cuts could be coming in this back half of 2023, and automakers are preparing for a price war. Some electric vehicle makers are already slashing prices.
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*None of this is meant to be construed as investment advice, it's for entertainment purposes only.
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