Why car prices are still so high - Georgia Public Broadcasting

The semiconductor shortage has gotten much better since 2021, but it hasn't gone away entirely, and other supply chain snarls continue to periodically disrupt output. Because of these supply chain problems, the global automotive industry has produced millions fewer vehicles than it would have otherwise. … See more

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News Articles - Georgia Public Broadcasting

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Mar 18, 2023 · Why car prices are still so high — and why they are unlikely to fall anytime soon The average new vehicle costs nearly $49,000, an almost $10,000 increase from before the …

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New Car Prices Are Cooling, But Experts Say You Still Might Want To ...

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Aug 9, 2023 · New car prices are dropping, but experts say you still might want to wait to buy The average transaction price for a new car in July was $48,334, a slight dip from June and only a …

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Here’s Why Car Prices Have Gotten So High, So Fast. And Why They’ll ...

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Jun 11, 2021 · About two-thirds of car buyers paid within 5% of the sticker price in May, with some even paying above sticker. Wholesale prices for used cars sold at auction are up 39% since …

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Why Car Prices Are Still So High — And Likely Won't Fall Anytime …

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Mar 18, 2023 · Why car prices are still so high — and likely won't fall anytime soon The average new vehicle costs nearly $49,000, an almost $10,000 increase from before the pandemic. This …

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Why Auto Prices Are On The Rise In America - PBS

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Sep 3, 2023 · So say you pay $30,000 for an electric car, it's really 22,500 because you get a $75 tax credit if you make enough money to get that credit. But that makes it a whole lot more affordable.

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Why Car Prices Are Still So High — And Why They Are Unlikely To Fall ...

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Mar 18, 2023 · The used-car market doesn't provide much relief either. Retail used-vehicle prices now average $26,510. And after falling last year, closely watched wholesale prices, a key …

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Here’s Why Car Prices Are So High, And Why That Matters

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Jul 8, 2021 · According to Edmunds, a go-to resource for car information, the average used car price hit $26,500 in June, up 27% from a year ago, while the average new car transaction …

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Exploring The Many Reasons Why Car Prices Remain High

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Mar 14, 2023 · Why are car prices still so much higher than they were before the pandemic? The average cost of a new vehicle tops $48,000. Exploring the many reasons why car prices …

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FAQs about Why car prices are still so high - Georgia Public Broadcasting Coupon?

Are used car prices rising again?

The used-car market doesn't provide much relief either. Retail used-vehicle prices now average $26,510. And after falling last year, closely watched wholesale prices, a key indicator of where markets are headed, are actually rising again. Why are prices remaining stubbornly high? Here are a few reasons. ...

Are dealerships taking a foot off the gas on new car prices?

Some welcome news for potential car buyers: dealerships are taking their foot off the gas on new vehicle prices. According to Kelley Blue Book, the average transaction price for a new car in July was $48,334, a slight dip from June and only a 0.4% year-over-year increase. ...

Why are car dealer lots so expensive?

Car dealer lots have only a fraction of the vehicles — both new and used — that they typically have. That’s helping send prices to record levels and lifting the nation’s overall inflation rate. And the price increases aren’t over yet. ...

How has the US economy impacted used car prices?

The US economic rebound has pushed consumer prices up at the fastest rate in nearly 13 years, and used car prices alone were responsible for a third of of the 5% overall jump in May. It’s a 180-degree turnaround in the market from a year ago, when many car dealerships were closed by the pandemic or limited to providing service and maintenance. ...

Why is the used car market so tight?

The used car market is just as tight, with some measures of supply and demand in the sector showing the greatest scarcity on record. Those two factors — strong sales and limited supply — are feeding the price boom. “It’s a perfect storm,” said Charlie Chesbrough, senior economist for Cox Automotive. ...

How much do new and used car prices move the CPI?

New and used car prices normally account for about 7% of the CPI, but they generally don’t move the headline number very much because they don’t experience wild swings in prices, said Jonathan Smoke, chief economist for Cox Automotive. “Used car prices typically rise about 1% annually,” he said. ...