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New Car Prices

All articles tagged with #new car prices

business1 month ago•6 min saved

Expensive New Cars: Market Shifts Lock in Higher Prices and Slower Demand

New-car prices are rising not just because of tariffs but also due to automakers prioritizing upscale models and limiting budget options, pushing the average price toward about $47,000. Dealers report a 75-day supply as demand cools, meaning inventory lasts longer even with more cars on lots. In China, February vehicle deliveries fell about 15% after subsidy cuts, though exports rose and BYD expanded; Porsche’s China sales are shrinking as local EVs gain ground. Taken together, these dynamics suggest a tougher market that could push more buyers into the used-car market and influence future model strategies.

via Jalopnik|

#auto-industry #business #china-auto-market

business2 months ago•3 min saved

U.S. auto market bifurcates as affluents buy pricier new cars while lower-income buyers pull back

Affluent buyers are taking over new-car purchases at higher prices while lower-income shoppers retreat, signaling a K-shaped economy: the share of buyers earning under $100k dropped from 50% in 2020 to 37% in 2025, and those earning over $200k rose from 18% to 29%. With average MSRP around $51k in 2025, higher insurance costs and inflation, automakers have cut entry-level models and rely on wealthier buyers. About a third of Americans can’t afford new cars (roughly 110 affordable models for incomes ≤$65k vs 250 for ≤$105k), and average monthly payments rose to over $1,000 for 20% of buyers in Q4. Overall new-car sales cooled to 16.3 million in 2025 from over 17 million pre-2020, raising concerns that affordability constraints could shrink the market in the coming years.

via CNBC|

#affordability #auto-sales #business

automotive1 year ago•1 min saved

Record High Vehicle Ages in the U.S. as Owners Hold On Longer

The average age of cars, trucks, and SUVs in the US has reached a record 12.6 years in 2024 due to high new vehicle costs, though the growth in average age is slowing as new vehicle sales recover. With new vehicle prices averaging over $45,000, many consumers are keeping their older vehicles longer. Factors such as the decision between electric, hybrid, or gasoline vehicles and concerns about charging infrastructure also play a role. New vehicle sales are expected to rise to 16 million this year, which may stabilize the average vehicle age.

via Newser|

#auto-sales #automotive #electric-vehicles

business2 years ago•4 min saved

Auto Workers Ratify New Contracts, Predicted Rise in New-Car Prices

The United Auto Workers (UAW) strike against Ford, General Motors, and Stellantis has ended after 46 days, making it the longest UAW action since 1998. UAW members voted to accept the new contracts, which include wage increases and cost-of-living adjustments. However, the gains fall short of the initial demands, leading to some dissatisfaction among union members. The strike has resulted in significant costs for the automakers, with new-car prices predicted to rise as a result. The strike's impact on the industry may also create an opportunity for Chinese automakers to enter the US market with lower-priced vehicles.

via Car and Driver|

#auto-industry #business #contract-negotiations

business3 years ago•2 min saved

"New car prices drop below MSRP, time to negotiate for a deal"

New car prices have been trending downward overall for months now, and in March, car buyers paid below the sticker price for the first time in 20 months. Brands like Chevrolet, Chrysler, Dodge, Ford, and Hyundai saw the average prices paid for their vehicles decline up to 3.8%, indicating incentives are also creeping back. However, shoppers still need to remain vigilant and keep an eye on car-buying market dynamics, while loan payments, interest rates, and inventory issues continue to hobble the industry.

via Business Insider|

#business #car-buying #dealerships