Popular Cars That Are Still Affordable
Photo Credit: Andrew Zaikovskyi / Shutterstock
Inflation has hit many sectors of the economy hard over the last year, but few categories can compare to the automotive industry.
Economic experts debate how much the current period of inflation has come from increased consumer demand and how much has been caused by constraints on supply. In the vehicle market, both forces are clearly at play. Low interest rates, federal stimulus payments, and better-than-expected economic conditions throughout the pandemic gave households more money to spend on big purchases like cars.