The average new vehicle costs nearly $49,000, an almost $10,000 increase from before the pandemic. Why are prices remaining stubbornly high? Here are a few reasons.
It wasn't because of a lack of buyers on the cheap end, says Judy Wheeler, Nissan U.S.'s vice president for sales and regional operations.
"The pricing environment that we're in right now has been very good, very robust," General Motors Chief Financial Officer Paul Jacobson told investors on an earnings call last year."And ... running the business for cash flow is critical to help fund our journey in the EV transformation." But the new-car woes also had a delayed effect on the used-car market — because new cars, obviously, become used cars after some time.nice two-year-old cars, which means even in the used market, the high end of the market is booming.late-model"We are firmly in the teeth of an extremely tight used-vehicle market, and that is directly a function of what has happened over the past three years," says Jonathan Smoke, chief economist at Cox Automotive.
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