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Story summary
- As the war in Iran continues, General Motors (GM) reported a nearly 10% drop in first-quarter sales, the largest in four years.
- Rising gas prices averaging $4.08 per gallon are discouraging buyers.
- Ford and Subaru also expect sales declines.
- Toyota noted affordability pressures affecting lower-income buyers.
- The average price of a new vehicle exceeds $50,000, and analysts remain uncertain about the industry's outlook.
