Vehicles are fetching record average prices of $30,748, up 6.9 percent from a year ago, but don’t blame the automakers.
This is not a case of price gouging. Consumers are choosing more expensive trim levels and options for their new vehicles as a rebounding industry is producing more closely to market demand.
After decades of training customers to wait for the biggest rebate or cut-rate lease, buyers are coming to terms with a seller’s market.
Post-recession, there are fewer dealers in the U.S. Most have less inventory on the lot.
Then factor in more available credit for consumers who are fi nally ready to replace their aging vehicles with more fuel-efficient ones and prices that have found their natural equilibrium.