The U.S. auto industry faced headwinds in 2024, with affordability emerging as a central issue amid high interest rates and elevated vehicle prices. These challenges dampened demand, leading to a 2% year-over-year decline in third-quarter new vehicle sales — the second consecutive quarterly drop. Production forecasts for North American light vehicles were adjusted downward to 15.5 million units from an earlier estimate of 15.8 million as automakers opted for strategic production cuts to manage inventory lev ...