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In March, the average new car sold for $171 below asking price, according to Kelley Blue Book. But that’s still higher than before COVID.
The new entry-level price for a new vehicle is $25,000, auto research site Edmunds says.
There are plenty of cars on lots, unlike a year ago. It’s buyers who are in short supply.
Dealers are figuring out how to balance the supply of vehicles with softer consumer demand.
As travel picks up, the minivan is seeing a surge in popularity — and not just with families.
A dealer in the Los Angeles area describes bidding wars for the few vehicles that are on the lot.
The global chip shortage. Supply chain headaches. Empty dealer lots and sky-high prices. New car shopping isn’t for the faint of heart.
Inventory is rising as people sell extra vehicles to take advantage of high prices and dealerships make enticing trade-in offers, experts say.
While many new-car assembly lines are backed up, older cars are available, and they’re fetching premium prices.
Low auto inventories are giving car dealers a lot more leverage.