February new-vehicle sales dip is the mildest in months
Hard-pressed buyers turn from premium and medium cars to cheaper brands and finance options
01 March 2024 - 15:51
UPDATED 03 March 2024 - 19:41
Brand loyalty, which traditionally has seen consumers stick with the same brand whenever they buy a new vehicle, is being undermined by economic pressures. Buyers are looking for anything they can afford, National Automobile Dealers’ Association chair Brandon Cohen said last week.
Premium carmakers, particularly German ones, have already seen their market share eroded as potential buyers shift to cheaper brands offering the same features, if not status, for less money. Now it’s happening across the board as medium-range brands also come under pressure from newcomers...
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