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Car dealers are worried about the impact of high-interest rates and weak economy: Survey

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Car dealers are worried that a combination of rising interest rates, inflation, and the economy will continue to impact business negatively, a recent Cox Automotive survey said.

Even with lower prices might, consumers might still struggle with access to credit, according to the survey.

The lack of credit availability for consumers increased significantly quarter over, with 30% of dealers citing this as a challenge in the second quarter, compared to 26% in the previous quarter and only 17% last year, according to the survey,

 

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