Subprime New-Car Buyers Going Missing From U.S. Showrooms
- Demand has been steady among shoppers with better credit
- March sales pace may have slipped to slowest in seven months
Photographer: Patrick T. Fallon/Bloomberg
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The American consumers who were stretching themselves to buy or lease a new car are starting to go missing from showrooms.
Rising interest rates and new-vehicle prices are squeezing shoppers with shaky credit and tight budgets out of the market. In the first two months of this year, sales were flat among the highest-rated borrowers, while deliveries to those with subprime scores slumped 9 percent, according to J.D. Power.