CarGurus on Car Affordability Challenges, Supply Tightness & Tariffs

Kevin Roberts of CarGurus addresses the affordability challenges car buyers are facing in the auto market. He says the average vehicle price in July was $51,000 and rising, with cheaper cars getting "harder to find." Despite the uptick in price, Kevin points out that new vehicle sales are down and leasing is on the rise, something that can buoy costs as more used cars enter the market. Tariffs are another factor he sees hitting automobiles in the coming months.

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