{"id":1784593,"date":"2022-12-23T06:09:09","date_gmt":"2022-12-23T11:09:09","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1784593"},"modified":"2022-12-23T06:33:56","modified_gmt":"2022-12-23T11:33:56","slug":"new-vehicle-sales-to-fall-in-december-as-high-prices-deter-buyers","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/new-vehicle-sales-to-fall-in-december-as-high-prices-deter-buyers\/","title":{"rendered":"New Vehicle Sales to Fall in December as High Prices Deter Buyers"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fnew-vehicle-sales-to-fall-in-december-as-high-prices-deter-buyers%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1784593&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>U.S. total new <a href=\"https:\/\/www.theepochtimes.com\/t-vehicle\">vehicle<\/a> retail <a href=\"https:\/\/www.theepochtimes.com\/t-sales\">sales<\/a> are expected to decline in December as high vehicle prices and rising borrowing costs pushed consumers to cut back spending, a <a href=\"https:\/\/www.theepochtimes.com\/t-report\">report<\/a> from industry consultants J.D. Power-LMC Automotive showed on Wednesday.<\/p>\n<p>\u201cElevated pricing, coupled with repeated interest rate increases, continue to inflate monthly loan payments,\u201d said Thomas King, president of the data and analytics division at J.D. Power.<\/p>\n<p>The average monthly payment for a new vehicle loan in December was $718, up $47 from a year ago, per the report.<\/p>\n<p>Retail sales of new vehicles this month are expected to touch over 1.04 million units, down 2.8 percent from last year.<\/p>\n<p>Total new vehicle sales in December, including retail and non-retail transactions, are likely to be over 1.25 million units, a 5.3 percent increase from last year, according to the report.<\/p>\n<p>The consultants expect retail sales in the United States to increase next year, with improving inventory levels.<\/p>\n<p>\u201cEven with the probability of an economic downturn, pent-up consumer demand from the past two years will keep inventory levels relatively low,\u201d King said.<\/p>\n<p>Globally, vehicle sales are projected to end at 80.7 million units this year, a 1 percent contraction from 2021.<\/p>\n<p>They project global sales to grow 6 percent to 85.7 million units in 2023, even as markets grapple with the prospects of an economic recession.<\/p>\n<p>\u201cWe expect 2023 to carry a high level of risk and uncertainty as several markets could be dealing with a recession,\u201d Jeff Schuster, president, global forecasts, LMC Automotive said.<\/p>\n<div class=\"author_wrapper\">\n<div class=\"one_author_block round\">\n<div class=\"top_row\">\n\t\t\t\t\t<a href=\"https:\/\/www.theepochtimes.com\/author-reuters\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/reuters-logo-.jpg\" alt=\"Reuters\"   style=\"display:none\"><\/a>\n\t\t\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>U.S. total new vehicle retail sales are expected to decline in December as high vehicle prices and rising borrowing costs pushed consumers to cut back spending, a report from industry consultants J.D. Power-LMC Automotive showed on Wednesday. \u201cElevated pricing, coupled with repeated interest rate increases, continue to inflate monthly loan payments,\u201d said Thomas King, president &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1695410,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[6962,5458,11335,8280,11336,8859,4596,6420,4590,3819,5219,5343],"class_list":["post-1784593","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-the","tag-bongino","tag-buyers","tag-december","tag-deter","tag-fall","tag-high","tag-new","tag-prices","tag-report","tag-sales","tag-vehicle"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1784593","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1784593"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1784593\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1695410"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1784593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1784593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1784593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}