The Federal Reserve’s third interest rate cut of the year will likely have consequences for debt, savings, auto loans, mortgages and other forms of borrowing by consumers and businesses.

New vehicle sales in the U.S. rose 5.1% from January through March, as buyers stayed in the market despite high interest rates.

Automakers posted big increases in new vehicle sales during the summer, despite high prices, rising interest rates and even a limited strike against Detroit companies.

If the United Auto Workers strike isn't settled soon, consumers will see higher prices for new cars — and not just the ones from Detroit.

Demand for new SUVs, trucks and cars in the U.S. picked up steam in the second quarter, but the stronger sales kept prices high for consumers.

U.S. new vehicle sales fell slightly in the third quarter, even with improvement in September.

Two years after the pandemic tore through the economy, America’s auto market looks something like this: Prices are drastically up.

Yet that increase was nothing next to what happened in the used market. The average price of a used vehicle surged nearly 14% — roughly 10 times the rate of inflation — to over $23,000. So when buyer demand picked up late in the year, fewer used vehicles were available. “There are millions fewer used vehicles that are going to be available starting next year, 2022 and 2023,” he said. Dealers say competition for used vehicles, especially from upstart online auto sellers Carvana and Vroom, contributed to the price increases with bidding wars at auctions.