Opinion| Why are fewer cars being sold in 2023? – Sectors – Economy
The news has been forceful: car sales fell 26.7 percent in the first half compared to last year. Given this, the usual suspects appear to explain the bad behavior: high interest rates, household debt and an expensive dollar, which is not enough to explain what is happening. Household spending in 2023 comes with strong contractions in all categories, from rice to financial transactions, mainly explained by excess purchases in 2021 and 2022 and the adjustment in spending after the pandemic, where it went from being at home to going out back to the world. But the category of vehicles has…
