Americans can once again buy cars for less than sticker price. But that doesn't mean they're finding bargains at their local dealerships.
Americans can once again buy cars for less than sticker price. But that doesn’t mean they’re finding bargains at their local dealerships. A year ago, record tight inventories meant 80% of buyers were paying more than the manufacturers’ suggested retail price , or sticker price, according to data from Edmunds. For decades, car buyers had been able to negotiate a discount. Today, only 36% of buyers are paying above sticker.
Cheaper models, such as compact sedans, are still in very short supply, especially since General Motors, Ford and Chrysler parent Stellantis have more or less pulled out of those markets. Asian automakers that still make the cheaper car models also have some of the tightest inventories. “Just try to find a Civic,” said Michelle Krebs, senior analyst for Cox.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Americans are already starting to pull back on their spending, survey shows | CNN BusinessAmericans have already started to rein in their spending — and expect to pull back some more this year, according to a Federal Reserve Bank of New York survey released Tuesday morning.
Read more »
Wholesale price hikes slowed significantly in December as inflation eases | CNN BusinessWholesale price growth cooled off significantly in December, the Bureau of Labor Statistics reported Wednesday, indicating that the Federal Reserve's aggressive interest rate hikes may finally be bringing price pressures under control.
Read more »
Adam Sandler being honored with Mark Twain Award to air on CNN | CNNSeveral of Adam Sandler's very funny friends will be among the stars to pay tribute to him when he is honored with the Mark Twain Prize for American Humor.
Read more »
Debt Limit Tees Up a Political Showdown - CNN Political Briefing - Podcast on CNN AudioThe Treasury Department says the US hit the debt ceiling today, setting up a showdown in Washington to either raise it or risk economic turmoil. CNN Political Director David Chalian explains why raising the government’s borrowing cap is being politicized. House Republicans want concessions in exchange for raising the debt limit, while the White House isn’t willing to negotiate.
Read more »
Europe's ban on Russian diesel could send pump prices even higher | CNN BusinessEurope is scrambling to buy diesel fuel from Russia before a ban on imports comes into force in early February, but the frantic stockpiling is unlikely to prevent a new price shock for truckers, drivers and businesses.
Read more »
Pivotal 'Titanic' scene reenacted to disprove theory about the film | CNN BusinessDid Rose sink Jack's chances in 'Titanic'? Now there's a forensic reenactment of the so-called door scene. CNN's Jeanne Moos reports.
Read more »