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AdvertisementAdvertisementMore electric vehicles are being pumped out of car factories than ever before – but some dealers don't want them. Electric car inventory has been piling up on dealership lots this year as companies up their EV production, leading some dealers to say enough is enough. Some are telling automakers they don't want any more until they can sell what's sitting, several dealers told Insider. AdvertisementAdvertisementIn the EV plateau, dealers are left in the lurchIn this round of growing pains for the electric car market, dealers are set up for the most trouble . "Dealers know in real time with real-time feedback what the market is doing," Karl Brauer, an automotive analyst for iSeeCars, previously told Insider.
Persons: Scott Kunes, Kunes, It's, Sam Fiorani, Fiorani, EVs, Tesla, Adam Lee, he's, Lee, Karl Brauer Organizations: Morning, Kunes, RV Group, Nissan, Mitsubishi, AutoForecast Solutions, Coast Ford, Midwest, Hyundai, Lee Auto, iSeeCars Locations: Detroit, West Coast, Maine
Cars Return to Dealer Lots. Interest Rates Could Make Them a Harder Sell. At Adam Lee’s Jeep dealership, customers are seeing something they haven’t in years: lots of new cars. But while supply is returning, higher interest rates are hitting demand and sparking concerns that 2023 could be another turbulent year for the car industry. Photo Illustration: Adam Falk
Car buying is daunting, but especially with today's interest rates and uncertain inventory. Car dealers offered some tips about getting the best deal. There are plenty of things consumers can do to make the right choice and get the best deal amid all of that. Dealers — who know the ins-and-outs of the auto-buying market — have a few more tips for the best way to get a deal and navigate the process. The average new car sold for $48,763 in February, according to Kelley Blue Book, down from January's $49,468 and December's $49,507.
Cars Return to Dealer Lots. Interest Rates Could Make Them a Harder Sell. At Adam Lee’s Jeep dealership, customers are seeing something they haven’t in years: lots of new cars. But while supply is returning, higher interest rates are hitting demand and sparking concerns that 2023 could be another turbulent year for the car industry. Photo Illustration: Adam Falk
A tornado struck New Iberia, Louisiana, on Wednesday, briefly trapping people in their homes, police and the National Weather Service Lake Charles said. The tornado touched down in the Southport subdivision area just before 11 a.m. An NWS spokesperson said a storm survey will be conducted to determine its strength. Earlier Wednesday, tornado watches had been issued for parts of Alabama, Mississippi and Louisiana — where two people, including a child, were killed when a storm tore through the area Tuesday. Thousands of people in Louisiana and Mississippi remain without power after Tuesday's storms. Other injuries were reported in Farmerville, Louisiana, and in Texas after a tornado struck the city of Grapevine.
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