5/11/2023 0 Comments Kelleu blue bobokFor comparison, luxury vehicles were selling for nearly $825 under MSRP one year ago. In June 2022, the average luxury buyer paid $66,476 for a new vehicle, up $1097 month over month, the highest price for a luxury vehicle ever. “These segments are selling for more than 30% less than the industry average transaction price.” PRICE CHANGE PERCENTAGE BY AUTOMAKER “While prices for the industry are, on average, higher than MSRP, there are some non-luxury segments that are more affordable such as compact cars and compact SUVs/crossovers,” said Rebecca Rydzewski, research manager of economic and industry insights for Cox Automotive. Consumers have paid roughly $1,000 more than MSRP in each month of 2022 versus only $158 over MSRP in June 2021. Car shoppers in the non-luxury segment paid on average $1,017 above sticker price. The average price paid for a new non-luxury vehicle last month was $43,942, up $615 from May, the highest price for a non-luxury vehicle on record. On the other side of the spectrum, Buick, Lincoln and Ram were selling at nearly 1% below MSRP. In June, new vehicles from Honda, Kia and Mercedes-Benz were transacting on average between 6.5% and 8.7% over MSRP. The average price paid for a new vehicle has been “over sticker” throughout 2022. These conditions enabled most dealers to continue selling inventory at or above the manufacturer’s suggested retail price (MSRP). Customer demand remains strong given continued supply issues. All rights reserved.New-vehicle inventory days’ supply inched up to the high 30s in June after being in the mid-30s since mid-January.
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