AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |
Back to Blog
Edmunds new car pricing11/14/2022 It’s clearly a seller’s market, said Bob Carter, the head of U.S. “This is in part driven by affluent consumers being willing to shell out more cash to get the vehicles that they want, but there’s also a vast population of individuals who are being forced to do so simply because they need transportation and have no other choice.” “The fact that an overwhelming majority of consumers are paying above sticker price would have been unthinkable even just a year ago,” said Jessica Caldwell, executive director of insights for data tracking service Edmunds. ATP by Vehicle Make, January 2022 (Chart/Edmonds) Once ‘Unthinkable’ Pre-COVID, the figure was closer to 0.3%, noted Edmunds. That was itself a big jump from a year earlier. Indeed, you’ll be lucky if you can get out of the showroom paying just MSRP.Īccording to data analyzed by tracking service Edmunds, 82.2% of new-vehicle buyers spent more than sticker price (average transaction price, or ATP) last month - with dealer markups adding thousands, sometimes $10,000 or more - to the bottom line.īy comparison, just 2.8% of buyers paid more than the price listed on the Monroney sticker (MSRP) in January 2021. Rebates, low-interest loans, and other incentives are hard to find these days. The laws of supply and demand are clearly not in the buyer’s favor. That’s a big drop from the 3 million considered normal this time of year. dealers have barely 1 million vehicles on their lots right now. Whether you blame COVID, the semiconductor shortage, or trucker blockades, this isn’t a particularly good time to go looking for a new car, truck, or crossover. And things aren’t likely to get much better anytime soon. Home » News » Forget Sticker Price: If You’re Buying a New Car, Expect to Pay a PremiumĪ new study revealed that more than 80% of buyers paid more than sticker price in January.
0 Comments
Read More
Leave a Reply. |