The average cost for a new passenger vehicle these days sits right around $50,000.
More inventory is good for buyers.
They aren’t keeping as many vehicles on their lots as before the pandemic, but they have way more than they had during it.
New light vehicle sales, including cars, SUVs and pickups, were up about 20% in June from this time a year ago.
The new entry-level price for a new vehicle is $25,000, auto research site Edmunds says.
Dealers are figuring out how to balance the supply of vehicles with softer consumer demand.
A dealer in the Los Angeles area describes bidding wars for the few vehicles that are on the lot.
The global chip shortage. Supply chain headaches. Empty dealer lots and sky-high prices. New car shopping isn’t for the faint of heart.
The price difference between a new car and a used car isn’t as wide as it was before the pandemic.
Prices climbed in the first half of 2019 as more consumers opted for more expensive trucks and SUVs. Overall sales fell.
