Despite elevated vehicle prices, soaring interest rates and high inflation, there are no signs that demand is falling off yet.
But don't get too excited. Days supply is still far below historical levels and production has yet to catch up to demand.
The average price paid for a new vehicle in America now tops $48,000. Supply of popular segments – like subcompacts, hybrids and EVs – remain low.
Sales into commercial fleets were up 37% and sales into government fleets were up 28% last month compared to August 2021.
The average price for a new electric vehicle – over $66,000, according to Kelley Blue Book estimates – remains well above the industry average and more aligned with luxury prices versus mainstream prices.
Pricing has been released for the 2023 Subaru Impreza Sedan or 5-Door models, starting at $19,795 MSRP.
Available now, the 2023 Sportage subcompact SUV features new X-Line and Sportage X-Pro trims, and upcoming electrified versions.
But average transaction prices still linger above MSRP as supply holds steady at the same level since Thanksgiving and customer demand remains strong.
Analysis: A big drop of 20% to 30%, as one report suggests, is highly unlikely. History tells us a decline of more than 10% is rare indeed.
New-vehicle inventory levels are still 63% lower than a year ago while the average transaction price hit another record.
media brand
The secure and easy all-access connection to your content.
Bookmarked content can then be accessed anytime on all of your logged in devices!
Already a member? Log In
