Automakers continue to navigate significant cost pressures and there's still a substantial gap between prices and what many households can comfortably afford.
Posts tagged as “new vehicle prices”
Consumers are increasingly gravitating toward more affordable vehicle models, pressured by average new vehicle transaction prices holding at or near $50,000.
Over the past year, average marketed price increased by $1,896 with almost 85% of that growth taking place since March 1 alone.
High new car prices pressure drivers to keep vehicles longer as they strive to find more value at lower costs for parts and service.
In addition to larger profit margins on used vehicles, dealerships also see an opportunity to expand their service bay business.
