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Car sales slump as vehicle prices continue to surge

CBS News logo CBS News 7/5/2021 CBSNews
a car parked in a parking lot: 2019-toyota-tacoma-pic-2424837102381850750-1024x768.jpg © cargurus.com 2019-toyota-tacoma-pic-2424837102381850750-1024x768.jpg

Vehicle sales dropped again in June, the second month in a row of declining vehicle sales, as rising prices and shortages keep would-be buyers away.

Imported vehicle sales fell 13.1% from the previous month while domestic vehicle sales also declined, down 8.7% overall as auto sales shrank 11.2% and truck sales fell 8%. The declines dragged car sales to below their pre-pandemic level.

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Video: Post-Pandemic Used Car Prices Soar (CBS SF Bay Area)

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