Transaction prices on new vehicles have dropped below the manufacturer sticker price in March 2023 for the first time in 20 months, with the first quarter seeing a downtrend in prices. The average price paid for a new vehicle by Americans fell to $48,008 in March, which is $171 below the average sticker price, according…
New Vehicles Fall Below Manufacturer Price for First Time in Nearly Two Years
NTD Business (Nov. 7): Elon Musk Endorses Republicans; China Calls for Climate Aid for Poor Nations
Elon Musk’s Twitter fact-checked President Biden again. Musk says he wants the platform to have the most accurate information, but can you have that and free speech at the same time? We explore this question. Three presidents converge in Pennsylvania to rally voters for a key senate race. Who wins will likely decide which party controls the…
Estimated Monthly Car Payments Hit All-Time High of $712 Amid Rising Interest Rates, Low Inventory
June 16, 2022
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Business & MarketseconomyinflationInflation PressureMarketsnew car pricespersonal financepre-owned carsUSvehicle inventory
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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
February 9, 2022
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Business & EconomyBusinesses in COVID-19chip shortagesCompaniesF-150Ford Motor Conew car pricesUSUS News
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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…
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