
Research puts the average new-car price in February at $45,296, compared to the average MSRP of $41,637.
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Dealers report elevated prices, a lack of affordable vehicle models, and higher interest rates are pricing many consumers out of new cars.
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Average vehicle transaction prices continue to soar, according to data released by Kelley Blue Book.
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The most recent Consumer Price Index from the U.S. Bureau of Labor Statistics shows a slight but promising decline in used car prices.
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J.D. Power and LMC Automotive report predicts average new vehicle transaction prices will hit a record $46,259 in August.
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Consumers seeking lower prices on dealership lots must wait until 2023, reported auto-industry leaders at the New York International Auto Show.
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The Ukraine invasion has ramped up the price of metals used in vehicles and OEMs likely will pass these costs on to consumers.
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Record high used car prices will deflate. The question is how fast the bubble will burst.
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The average price of a new car hit $45,000 in September and reached $25,000 for the average used car, according to Kelley Blue Book.
Read More →Volkswagen will begin offering its new models for lower prices and provide dealers with a broader product range in a move that could lower residual values if incentives remain high, according to an industry expert.
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