Vehicle Sales Boom Highlights Widening Economic Gap Between Higher-Income and Struggling Households

Vehicle sales are strong despite financial struggles for many households, showing a widening gap between higher-income and lower-income consumers
Higher-income households have more discretionary income and their finances were less impacted by the pandemic
Car dealers are catching up on sales postponed during parts shortages earlier in the pandemic
Industries like vehicles, housing, and travel are seeing solid demand from high-income consumers
The pandemic seems to have exacerbated divides between financially secure and struggling households