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Title: Average New Car Prices Hit Record High ($45,000)
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URL Source: https://www.zerohedge.com/markets/a ... gh-making-it-unaffordable-some
Published: Oct 15, 2021
Author: Tyler Durden
Post Date: 2021-10-15 01:46:48 by Horse
Keywords: None
Views: 141
Comments: 5
New car prices hit a new all-time high in September due primarily to snarled supply chains, according to Kelley Blue Book. At $45k, the average transaction price for a new car was up 12.1% (or $4,872) from one year ago in September and monthly up 3.7% (or $1,613) from August. Here are car prices for individual carmakers. "The record-high prices in September are mostly a result of the mix of vehicles sold," said Kayla Reynolds, an analyst for Cox Automotive. "Midsize SUV sales jumped in September compared to August, and full-size pickup share moved up as well. Sales of lower-priced compact and midsize cars, which had been commanding more share during the summer, faded in September," Reynolds said. All-time-high prices come as the entire industry endures a slowdown in sales. Total sales last month were approximately a million cars, a 7.3% monthly decrease, and one of the lowest volumes in the past decade. Dwindling sales are likely a function of two things, a worldwide shortage of microchips that have shuttered many automobile factors and possibly higher prices are creating demand destruction among buyers. Over the last year, dealership inventories have been tight due to supply chain difficulties and forced dealers to reduce incentives and discounts to prospective car buyers. Incentives were only 5.2% of the average transaction price last month, compared with 10% a year ago. Another issue for buyers is the staggering increase in used cars, which hit a record high last month. Poster Comment: It used to be $2,000 for a muscle car and $4,000 for a Mercedes. But sodas and chocolate bars were 5 cents. The minimum wage was $1.25 payable in silver quarters. That would be $27.25 if you tried to buy 5 90% silver quarters in a coin shop.
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#1. To: Horse, Dakmar, 4um (#0)
Settle down, Buck. It costed my folks $4,000 to buy a matched set of a Cutlass sedan with the UHO thingy-dingy, and a VistaCruiser wagon with the same engine, but with a 2bbl.
Godfrey Smith: Mike, I wouldn't worry. Prosperity is just around the corner. The Vista Cruiser was a very, very cool wagon.
“ On some great and glorious day the plain folks of the land will reach their heart's desire at last, and the White House will be adorned by a downright moron. ” ~ H. L. Mencken
The best car we ever had was a 1996 Caprice Estate wagon. That Olds 307 engine was a real dog, but the rest of the car was excellent. I'd love to have that old car today with a newer and more powerful LS engine in it.
The 307 was not GM's engineering zenith.
“ On some great and glorious day the plain folks of the land will reach their heart's desire at last, and the White House will be adorned by a downright moron. ” ~ H. L. Mencken
Correction: That was 1986 Caprice Estate wagon with the dog 307, not 1996. You mentioned the Hyundai Santa Cruz here a few months ago, I think? Here's Eric Peters' new review of the 2022 model:
Mike Flaherty: Yeah, it's been there a long time. I wish I knew which corner.
My Man Godfrey (1936)
#2. To: Esso (#1)
#3. To: Lod, Esso (#2)
#4. To: StraitGate (#3)
#5. To: Lod (#3)
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