car sales

The average cost of a new car is also at the highest on record, topping $47,000 a pop. At this rate, an essential household purchase is starting to feel like a luxury in America.

U.S. new car sales have been recovering for six straight weeks. They're still low compared with pre-coronavirus levels, but huge incentives have helped attract buyers despite an economic crisis.

U.S. auto manufacturers have learned from the last crash and have become more nimble, an industry expert says — so when oil prices rise again, they quickly will return to building more hybrids.