New Cars Cost What???
All time highs! For new cars that is.
The average price paid for a new vehicle crossed the $48,000 mark and landed at $48,043 in June.
The previous champ was December in 2021 with a high of $47,202.
Even with the prices of used cars falling the demand is still high for new vehicles and the supply is still limited. Allowing dealers to sell these cars over the MSRP.
For example, in June the brands Kia, Honda, and Mercedes-Benz were all selling new vehicles above 6% MSRP.
But when there are winners there are losers.
The brands Lincoln, Buick and Ram were not able to sell all their vehicles above MSRP and in fact were around 1% below their MSRP.
Will these prices ever go down?
Yes! But the real question is when.
We would need to start seeing a variety of items take place such as an increase in supply to match the demand, an ease in supply chain restraints, and oh yeah maybe a little less inflation…
|Author||The Car Dealership Guy|
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