The common new automobile in America offered for $46,085 in February. That marks the second straight month of declines, that means that December 2021 would possibly show to be the height of the automobile worth hike triggered by a worldwide scarcity of microchips.
Costs stay traditionally excessive. February’s common is $4,719 increased than costs from only one yr earlier than — a rise of 11.4%.
Most Nonetheless Paying Over Sticker
The common purchaser, nonetheless, continues to be paying greater than sticker worth. Non-luxury consumers paid a mean worth greater than $900 above MSRP in February. A yr in the past, they have been paying greater than $1,500 below sticker.
“Shoppers are paying close to prime greenback for brand new automobiles as costs stay excessive and incentives fall to a report low,” mentioned Michelle Krebs, govt analyst for Cox Automotive. “With costs for oil and gasoline, together with commodities like metals used to construct automobiles, hovering because of Russia’s invasion of Ukraine, automakers could also be compelled to attempt to offset their rising prices by elevating car costs. The Ukraine scenario is inflicting further disruption to the automotive provide chain, which makes the chance of rising stock, which stays caught at low ranges, much less of a positive factor.”
Cox Automotive is the dad or mum firm of Kelley Blue Guide.
Luxurious Automobiles Promoting Nicely Over MSRP
Luxurious automobile gross sales fell barely in February, making up 16.3% of complete new automobile gross sales. At peak in December, 18.4% of complete gross sales have been luxurious automobiles.
Luxurious consumers paid greater than $2,500 above sticker worth within the common transaction final month. A yr in the past, they paid greater than $2,400 below MSRP.
SUV Costs Fell; Automobile, Truck Costs Rose
The sample wasn’t the identical for all consumers, nonetheless. SUV consumers — nearly all of buyers — noticed their common worth lower by $605 in February. Truck consumers, nonetheless, paid a mean of $622 a couple of month earlier than. Automobile consumers paid a mean of $185 extra.
