Sales

Split sharpens between have and have-not buyers

The average list price of a new light vehicle likely exceeded $40,000 for the first time ever in December 2020, according to Cox Automotive. And consumers are taking on more debt to swallow that: The average amount financed climbed to $35,373 in the fourth quarter, compared with $33,525 a year ago, according to Edmunds. (DAVID PHILLIPS)
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By:
GABRIELLE COPPOLA and KEITH NAUGHTON
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By:
Bloomberg
|
January 06, 2021 02:53 PM

Pandemic lockdowns have cost millions of low-income Americans their jobs, while white-collar types who work from home are flush with cash they can’t spend on dining or travel. Instead, many of them are buying expensive new vehicles.

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