Morning Business Report: Shoppers tighten budgets as automakers face slowing sales
Americans are scaling back their spending, and the auto industry is feeling the impact.
(LILAMAX)- Americans are scaling back their spending, and the auto industry is feeling the impact. Shoppers are downsizing, buying used vehicles, stretching out loan terms, and waiting longer for deals. Analysts had expected a third-straight year of rising sales as automakers recovered from pandemic-era shortages, but instead, buyers are pushing back. Cars are sitting longer on dealer lots, discounts are…