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Prices for new vehicles fall at fastest rate ever, say JPMorgan analysts
THE NEWS TRIBUNE
Published: September 5th, 2008 01:00 AM
Prices for new vehicles are falling at the fastest rate ever recorded, a team of analysts said Thursday, squeezing automakers’ profit margins at a time of slumping sales but setting the stage for a sales rebound once the economy improves.
In a research report, JPMorgan analysts said the average price of a new vehicle in the second quarter fell 2.3 percent from a year earlier to $25,632, citing government data. That’s the steepest drop recorded in the bank’s 41-year-old survey, the report said.
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