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Stories Tagged as

Car sales

High prices, interest rates, fading buyer incentives all dent new car purchasing

by Henry Epp
Oct 2, 2024
Several carmakers reported soft sales in the third quarter, and average loan rates for new cars exceeded 7%.
New vehicle prices have gone up considerably since the last time most would-be buyers purchased a new car.
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Why are car sales still strong, even with high prices and interest rates?

by Matt Levin
Jul 23, 2024
The vehicle industry is surprisingly resilient this year. Many people have been waiting for lower costs but can't hold out any longer.
When interest rates are high, people might wait to get a new car. But they might give in if rates stay high and the repair costs start to add up.
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Affordability is key for the latest wave of car shoppers. Can carmakers keep up?

by Savannah Peters
Apr 2, 2024
Many companies have focused on building more expensive SUVs and fewer affordable compact cars. That's causing a mismatch with current demand.
“Even now, though, a monthly car payment can be well over $700. Which is obviously a pretty large monthly expense for a household,” says David Whiston, an auto analyst with Morningstar.
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Four years ago, used car auctions went virtual. Many haven't gone back.

by Henry Epp
Jan 8, 2024
For a long time, the only way for dealers to buy at wholesale used car auctions was to go in person. Now, many of those auctions take place online.
For a long time, the only way for car dealers to buy at auction was to go to one in person. Many have moved to online simulcast.
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Car market could be boring in 2024. That's good.

by Henry Epp
Dec 26, 2023
The tumult in car prices moderated in 2023. Expect more of the same next year.
In recent years, the semiconductor shortage made new cars scarce. Now, the vehicle industry is back to normal-ish.
Brandon Bell/Getty Images
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EVs and hybrids drive 18% of car sales, doubling market share since 2021

by Samantha Fields
Nov 29, 2023
Price dips and and an expansion of models to choose from contributed to the boost in third-quarter purchases.
Some car companies, like Honda, are making more hybrid models available, says Stephanie Brinley at S&P Global Mobility.
Mark Ralston/AFP via Getty Images
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After years of not being able to get them, Americans want their wheels — no matter the cost

by Stephanie Hughes
Jul 6, 2023
New light vehicle sales, including cars, SUVs and pickups, were up about 20% in June from this time a year ago.
Lots of consumers feel confident they’ll have the money to buy vehicles they might have once considered unaffordable.
Mario Tama/Getty Images
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I've Always Wondered ...

How do carmakers set the "manufacturer’s suggested retail price"?

by Janet Nguyen
Apr 28, 2023
Every car has one, but what you actually pay may differ from this amount.
A car's sticker price communicates its worth — but there might be better deals out there.
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New cars have been a seller's market, but that's changing

by Savannah Peters
Apr 13, 2023
In March, the average new car sold for $171 below asking price, according to Kelley Blue Book. But that's still higher than before COVID.
A year ago, the average new-car buyer was paying close to $1,000 over sticker price. But with the semiconductor chip shortage easing, some automakers are ramping up production, says Rebecca Rydzewski of Cox Automotive.
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What's driving car prices ever higher?

by Kristin Schwab
Apr 6, 2023
The new entry-level price for a new vehicle is $25,000, auto research site Edmunds says.
Ford is one automaker that has moved its focus from smaller, more affordable sedans to trucks and SUVs.
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