Overheard: Consumers Are Spending On Their Current Cars

Overheard: Consumers Are Spending On Their Current Cars

According to the Census Bureau, spending at auto parts, accessory and tire stores in June was up 11.1% over June 2021.

Data Did You Know: While it remains hard to buy a new car, consumers are spending lots of money on their existing vehicles. According to the Census Bureau, spending at auto parts, accessory and tire stores in June was up 11.1% over June 2021. Some of that increase is due to inflation, but as the chart below shows, sales have stayed consistently higher since the end of the lockdown.

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