DETROIT (AP) — U.S. new-vehicle sales rose only slightly in the second quarter, despite larger discounts and slightly lower prices.
Industry analysts say they expect prices to drop further, and suggest buyers consider waiting for better deals and possibly an interest-rate cut.
Overall, U.S. sales were up only 0.1% compared to a year ago, as still-high prices kept many potential buyers out of the market, according to preliminary tallies Tuesday by Motorintelligence.com.
Sales were crimped in late June, when cyberattacks knocked out software from CDK Global that dealerships use to do sales paperwork. CDK said most dealers were back up by Tuesday afternoon, but companies such as General Motors said the problem pushed some deliveries into the third quarter.