According to a report from Edmunds, 62% of American car buyers will be holding off on purchasing a new vehicle due to elevated interest rates. Will the Federal Reserve's 50-basis-point rate cut kickstart any reaction from auto customers?

Yahoo Finance senior autos reporter Pras Subramanian highlights the data indicating how consumers and automakers are feeling about the future rate cuts to come.

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This post was written by Luke Carberry Mogan.