U.S. vehicle affordability holds steady, remains strained

U.S. vehicle affordability holds steady, remains strained

New-vehicle affordability in the United States remained relatively stable in February, though conditions continue to challenge consumers, according to Cox Automotive’s latest Vehicle Affordability Index. The report shows buyers needed roughly 36 weeks of median income to purchase a new vehicle in February, little changed from the previous month but still elevated compared with historical norms. Monthly payments also remained high, ranging betwee…