The average new car price hit a record $45,000 in September

[Richard Cranium]

A new study from Kelly Blue Book found that the average price paid for a vehicle in September it an all-time record of $45,031 as discounts dwindle and buyers in the market gravitate toward high-end models.

"The record-high prices in September are mostly a result of the mix of vehicles sold," Cox Automotive analyst Kayla Reynolds said.

"Midsize SUV sales jumped in September compared to August and full-size pickup share moved up as well. Sales of lower-priced compact and midsize cars, which had been commanding more share during the summer, faded in September. As long as new-vehicle inventory remains tight, we believe prices will remain elevated."

It was the sixth-straight record month, according to KBB's data.

The automotive industry has been plagued with parts supply issues caused by the coronavirus pandemic leading many to prioritized production of their high priced, profitable models.

Cadillac has been leading the way on the back of its redesigned Escalade SUV which has helped drive the brand's average sale price up 51.2% compared to September 2020, while Tesla has held the steadiest with a 1.5% increase over last year despite initiating several significant price hikes on its volume models this year.


https://www.foxbusiness.com/lifestyle/the-average-new-car-price-hit-record-45000-in-september

 

[Triplegreen500]

Take into account inflation.

17% inflation means that $45,031 is the equivalent of last years' $37,375.

And for the usual suspects, yes, the "press" is reporting 3%...but look at your everyday expenses and even a simpleton can see inflation is MUCH higher than 3%.

That's an older screen grab - like, earlier this week. Bacon is now up 19%+ as of this morning's broadcast, but I couldn't find the screen grab for that one...

 

[Don Frelier]

Take into account inflation.

17% inflation means that $45,031 is the equivalent of last years' $37,375.

And for the usual suspects, yes, the "press" is reporting 3%...but look at your everyday expenses and even a simpleton can see inflation is MUCH higher than 3%.

View attachment 1179645

That's an older screen grab - like, earlier this week. Bacon is now up 19%+ as of this morning's broadcast, but I couldn't find the screen grab for that one...

I get $38,488 but your point is well taken.
Well we need to be "makin more bacon", otherwise we are all taking a paycut.
This really hurts those with marginal income they simply can't afford basic stuff anymore.

 

[YY1]

Glad I bought a 2015 in '17 and my wife bought a '20 in late '20.

We're set for a decade, hopefully.

...and we got less than $40K in them both.

 

[moparedtn]

Take into account inflation.

17% inflation means that $45,031 is the equivalent of last years' $37,375.

And for the usual suspects, yes, the "press" is reporting 3%...but look at your everyday expenses and even a simpleton can see inflation is MUCH higher than 3%.

View attachment 1179645

That's an older screen grab - like, earlier this week. Bacon is now up 19%+ as of this morning's broadcast, but I couldn't find the screen grab for that one...

You are correct sir - food and fuel prices were removed from the Consumer Price Index some years ago.
Yes, for obvious political reasons at the time.
POP QUIZ, HOTSHOTS!

 

[Ron H]

After watching my beloved Dakota start rusting and rusting, checked around on new and used trucks; prices have been nuts and even before the pandemic. My hassle is I only like Dodges, every one I’ve had is Ram/Dakotas. And they haven’t made the latter for a decade now. I found that the smaller Dakota truck, after having my 1500, fit my needs most of the time and my wife will actually not whine too much if she needs to drive it. My Dakota has 83k on it, well optioned with AWD. I looked at used trucks having not all that fewer miles and less options than mine for $35K+ and said eff-it, I’m doing a body transplant on what I have. Rust-free box $1,100, re-pop fenders $140 each, couple weeks sandblasting and rustproofing, new struts, shocks, now in for painting. Glad to say the doors and tailgate were in good shape doing most of the fixes myself. All said this resto should be around $7-8k. Not that I couldn’t have afforded a new truck; if Dakota was still around, might have sprung for one. Now that I’m retired won’t be driving it near as much as I had to.

 

[Cojohnso1]

To compare pandemic economic declines of the Trump administration to recovery struggles of the Biden is totally unfair to both. As well as unprecedented. Its really not a worthy debate topic. We really have no point of reference. How could either side possibly anticipate a computer chip shortage. At the same time a labor shortage?

How do we fix? We still have people dying from this pandemic. US population actually decreased in 2020. That can't help labor shortage?

The good news? For the first time in, about 50+ years, labor had some political and economic leverage? The wealthy players are now getting hit with losses due to struggling product distribution? As a result? There is metrics showing wages rising. Not by government mandate. But by free enterprise needs and demands.

 

[Budnicks]

if Dakota was still around, might have sprung for one. Now that I’m retired won’t be driving it near as much as I had to.

Bingo

I love my Forest Green Pearl & Silver 1999 SLT 4x4 Dakota 5.2ltr too,
only has 60k miles, in 22 years of ownership
Have multiple trucks & I don't drive anywhere near as much
as I did in my younger years
it's still a very dependable truck, always was/is
A rust-free Ca. truck & has almost always been garage kept
1/2 the miles are in 4wd
bigger better tires & a bunch of bolt-on performance stuff
3" cat-back Flowmaster exhaust, HS 1.7:1 rollers,
AEM airbox, 4" air intake, swirl spacer, gauze type filter
& Hypertech tuner
handles very well, has good performance (now)
It fits my needs & fits the garage so well too

I can't & won't 'replace it' for what it would/could sell for

I also have a 2002 F350 4x4 Dually 7.3ltr Powerstroke
if I need a full-size or to tow something big or my RV/Trailer
(albeit my dad drives the Ford way more than I do, like 125k miles more)

I wish FCA (or whatthefuckever WOP-French BS they are now)
they'd bring the Dakota back
all the other 2 of the US big 3 (or US big 5 if you count Nissan & Toyota)
makes all have midsize trucks again
IMO they should do a performance V8 version, perf. off-road package
& something like a TRX SC Hemi or even just a NA 5.7 Hemi
I'd probably be all in, even at a $50k-$60k level

I do like the new Rebel TRX SC Hellcat equipt 'Raptor Killer'
but I'm not spending $90k-$100k for a new Ram truck

 

[Don selleck]

glad I got my new truck last fall. its worth more than it stickered for with 20k miles on it.

 

[Gus chiggins]

A new study from Kelly Blue Book found that the average price paid for a vehicle in September it an all-time record of $45,031 as discounts dwindle and buyers in the market gravitate toward high-end models.

"The record-high prices in September are mostly a result of the mix of vehicles sold," Cox Automotive analyst Kayla Reynolds said.

"Midsize SUV sales jumped in September compared to August and full-size pickup share moved up as well. Sales of lower-priced compact and midsize cars, which had been commanding more share during the summer, faded in September. As long as new-vehicle inventory remains tight, we believe prices will remain elevated."

It was the sixth-straight record month, according to KBB's data.

The automotive industry has been plagued with parts supply issues caused by the coronavirus pandemic leading many to prioritized production of their high priced, profitable models.

Cadillac has been leading the way on the back of its redesigned Escalade SUV which has helped drive the brand's average sale price up 51.2% compared to September 2020, while Tesla has held the steadiest with a 1.5% increase over last year despite initiating several significant price hikes on its volume models this year.


https://www.foxbusiness.com/lifestyle/the-average-new-car-price-hit-record-45000-in-september

I will be hanging on to my 2011 Dodge Charger RT (toxic orange) i won't go into debt for something new, and overpriced. FJB

 

[Cojohnso1]

I passed on a black '06 Ram 1500 5.7l truck in pretty decent shape at 120k miles for $7k about 3 months ago. Now kicking myself. No truck even close to that around these parts? Once again, who knew?

 

[SMS68]

10 months made a huge difference. I bought a new, modestly equipped Ram 1500 Classic in August of 2020 for roughly $35k. She got wrecked by a guy driving the wrong way on a one way street in June of this year.

When searching for a replacement, I couldn’t touch a similarly equipped Ram for less than $40+k. Most were even more than that. Unbelievable.

 

[Don Frelier]

US population actually decreased in 2020

I don't think so, growth was slower.
Where did you get this information?

How much did the US population increase from 2019 2020?

The US population was an estimated 329 million on July 1, 2020, growing by 1.2 million in a year, according to newly released estimates from the Census Bureau. This annual growth was a decrease of 22% since 2019. The 0.4% annual growth rate is the lowest since 1918, the year of the Spanish flu pandemic.

 

[Cranky]

I'm hanging onto my 25 year old junk.....a 95 Dakota (not so nice), 96 Dakota (pretty nice) and a 97 2500 diesel (dead paint but still runs great) and well, I'm sticking with that stuff until I'm no longer among the earthlings.

And please leave the political bullshit for the Political Forums......

 

[MIKESPOLARA]

Th real shame of all this is, assuming things get back to normal prices will NOT come down

 

[#41]

If I was an auto manf right now facing chip shortages, I'd be using available resources to focus on pumping out high dollar, high profit vehicles and let the stock of low margin vehicles dwindle. Add in overall low stock and there should be no surprise that average sales price has increased.

 

[Triplegreen500]

At the same time a labor shortage?

How do we fix? We still have people dying from this pandemic. US population actually decreased in 2020. That can't help labor shortage?

Curious if you have a reference for the population decrease? Please share...

What doesn't help the labor shortage is a government who's paying people to stay home, instead of working.

We have something like 11M jobs for 7M available workers. The JOBS are there. The PEOPLE are making more money staying home, being lazy. Cut the covid "relief" funds, and the job crisis will be over in a blink.

3M American citizens die every year. It's a fact.

Covid death rates exactly mirror standard death rates per age group.

For some factual numbers regarding covid, rates, percentages, and such, check this link:

https://off-guardian.org/2021/09/22/30-facts-you-need-to-know-your-covid-cribsheet/

 

[alsant]

French

whatthefuckever

WOP

French

wouldn’t of expected you of saying this

 

[Budnicks]

wouldn’t of expected you of saying this

It was 'more sarcasm' than anything,
our beloved brand is European maj. owned
(not a fan at all of the French or Peugeot, EV nonsense they will push)

The Italians/Fiat 'fix it again Tony' Ferrari's redheaded stepbrother (WOPs),
have done a decent job with FCA, the performance was back at Dodge/SRT
Ram was/is great sellers & best rated trucks for years
Jeep has carried on like normal, that's the brand Peugeot wants

& the Chrysler merger with Fiat (FCA)
brought them out of the brink of bankruptcy, saved them
some good came out of it

Sarcasm doesn't come across in typed/print

 

[Ron H]

Bingo

View attachment 1179663

I love my Forest Green Pearl & Silver 1999 SLT 4x4 Dakota 5.2ltr too,
only has 60k miles, in 22 years of ownership
Have multiple trucks & I don't drive anywhere near as much
as I did in my younger years
it's still a very dependable truck, always was/is
A rust-free Ca. truck & has almost always been garage kept
1/2 the miles are in 4wd
bigger better tires & a bunch of bolt-on performance stuff
3" cat-back Flowmaster exhaust, HS 1.7:1 rollers,
AEM airbox, 4" air intake, swirl spacer, gauze type filter
& Hypertech tuner
handles very well, has good performance (now)
It fits my needs & fits the garage so well too

I can't & won't 'replace it' for what it would/could sell for

I also have a 2002 F350 4x4 Dually 7.3ltr Powerstroke
if I need a full-size or to tow something big or my RV/Trailer
(albeit my dad drives the Ford way more than I do, like 125k miles more)

View attachment 1179664

I wish FCA (or whatthefuckever WOP-French BS they are now)
they'd bring the Dakota back
all the other 2 of the US big 3 (or US big 5 if you count Nissan & Toyota)
makes all have midsize trucks again
IMO they should do a performance V8 version, perf. off-road package
& something like a TRX SC Hemi or even just a NA 5.7 Hemi
I'd probably be all in, even at a $50k-$60k level

I do like the new Rebel TRX SC Hellcat equipt 'Raptor Killer'
but I'm not spending $90k-$100k for a new Ram truck

THAT is my favorite truck and the color combo sets it off better. I had a deal to buy one like it from a dealer in OR years back and btw getting shipping set, another sales guy up and sold it. The sales guy I was dealing with said no problem, he’d hold it for me and ahh that got effed up. Got an ’04, gray one, I drove for several years before it rusted out. Then found the ’05 I have now from OH; Laramie model optioned nice. Btw the two gen’s, always liked the body style you have a tad more. Just a stellar design unlike any of the other comparable size trucks, GM, Ford, etc. Why mopar (if we could still say mopar) dropped the Dakota – go figure. And funny ya mention the Rebel cuz I like it…about the only truck I’d consider forking out for today. Just can’t justify dumping that much cash having other stuff I can spend money on...