Category: new car prices

Estimated Monthly Car Payments Hit All-Time High of $712 Amid Rising Interest Rates, Low Inventory

The monthly payments made by people who have purchased a new vehicle hit a record high in May, according to the Cox Automotive/Moody’s Analytics Vehicle Affordability Index. Though a 0.3 percent growth in median income supported vehicle affordability, all other factors moved against affordable pricing in May, a June 15 report detailing the index stated….


Major Japanese Steel Producer Signals Price Hikes, May Push Up Car Prices

Nippon Steel Corp., one of the largest steel producers in the world, has announced that it could soon raise the price of steel, a move that can add to the inflationary pressure on the car industry. There has been a sharp cost increase for input materials like coking coal and iron ore, Takahiro Mori, executive…


Ford, GM Warn Dealers Who Charge More Than Suggested Retail Price

Ford and General Motors (GM) recently warned car dealerships to stop the practice of price gouging beyond the manufacturer’s suggested retail price (MSRP), with consequences including losing access to new vehicle models. Andrew Frick, Ford’s vice president of sales in U.S. and Canada, sent a letter to dealerships on Jan. 7 noting that some customers…


Prices for New Vehicles Hit Record High: Kelley Blue Book

The transaction price for a new vehicle has increased more than 14 percent on average over the last year, according to a report by a prominent automotive research company, which said that the record price hike was mostly due to supply constraints and luxury vehicle sales. “New-vehicle average transaction prices (ATPs) increased further into record…