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Auto Industry Shifts to Buyer's Market
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The U.S. auto industry is transitioning from a seller's to a buyer's market, with economist Jonathan Smoke predicting improved buying power for car consumers in 2024. The shift is driven by factors like high prices and increased new-vehicle inventory, indicating a potential return to a more balanced market.
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How could the improved buying power for car consumers influence consumer spending and the overall economy?
How might the shift from a seller's to a buyer's market impact the competitive landscape in the auto industry?
What strategies can automakers employ to cater to the evolving demands of car buyers in this new market environment?
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