New car sales drop as gas prices surge from Iran war [Yahoo! Finance]
General Motors Company (GM)
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Source: Yahoo! Finance
General Motors said Wednesday that first-quarter sales fell nearly 10% year over year - the company's largest drop in almost four years. Key factors High interest rates and elevated vehicle prices have already slowed demand in early 2026, according to The Wall Street Journal Now, rising gas prices tied to the war are adding another layer of pressure - giving car buyers more reason to hold off. Sales drop across major brands Cox Automotive forecasts first-quarter sales declines across several major automakers. Ford is expected to fall about 9%, while Subaru (-16.7%) and VW (-19.8%) face steeper, double-digit drops. Honda reported a 5% decline, and Toyota sales were flat. The report noted weaker demand for smaller vehicles, particularly compact cars and SUVs, a sign that affordability pressures are hitting lower-income buyers the hardest. Toyota sales executive David Christ told the WSJ shoppers are taking more time and thinking twice before committing. "People are ta
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