DETROIT — Had she wanted to, Michelle Chumley could have afforded a pricey new SUV loaded with options. But when it came time to replace her Chevrolet Blazer SUV, for which she’d paid about $40,000 three years ago, Chumley chose something smaller. And less costly. With her purchase of a Chevrolet Trax compact SUV in June, Chumley joined a rising number of buyers who have made vehicles in the below-average $20,000-to-$30,000 range the fastest-growing segment of the nation’s new-auto market. “I just don’t need that big vehicle and to be paying all of that gas money,” said Chumley, a 56-year-old nurse who lives outside Oxford, Ohio, near Cincinnati. Across the industry, auto analysts say, an “affordability shift” is taking root.
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Tom Krisher, Denver Post
Tue, 10/22/2024 - 6:45am
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BING NEWS:
- Lower-priced new cars gaining in popularity
At General Motors' Chevrolet brand, executives had foreseen the shift away from “uber expensive” vehicles and were prepared with the redesigned Trax, which came out in the spring of 2023, noted Mike ...
10/22/2024 - 4:49 am | View Link - Lower-priced new cars are gaining popularity, and not just for cash-poor buyers
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10/22/2024 - 3:06 am | View Link - Lower-priced new cars are gaining popularity in the U.S. — and not just for cash-poor buyers
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