Sales-Hungry U.S. Car Dealers Cut Prices Most Since 2009

Vehicles cost 0.6 percent less in July than a year ago, the biggest drop in over eight years

Desperate to rev up sales, U.S. dealers have cut prices on new cars and trucks by the most since the last recession. Friday’s government report on consumer prices showed vehicles cost 0.6 percent less in July than a year ago, the biggest decrease since March 2009. The decline, combined with a 4.1 percent slump in used car prices, led to a record 1.7 percent yearly drop in the broader index of transportation goods minus fuel.

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