The state of American car buying is bleak, according to a new study from insurance comparison service, Jerry. It found that customers did not get the vehicles they wanted in 2022 and yet are still spending an inadvisable amount of their income on the vehicles they do own.
Jerry sent out a survey to 1,257 vehicle owners or lessees in all 50 states across a variety of age groups to see what car buying and ownership were like last year, and what they might be like this year. Although the number of people looking to buy in 2023 remained pretty much stagnant in the study’s second year, only a quarter of people expect to buy a new car in the coming year, though more said they might be enticed if prices and interest rates fall.
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