Auto Transaction Prices Highest Since 1996
Dealers and their automakers have some good news recently: they are getting the highest transaction prices in 15 years, according to a new report.
CNW Research has crunched the numbers and found that early sales in April were selling at 87 percent of the manufacturer’s suggested retail price, and a reduction in haggling. “Dealers are the primary beneficiary of these dwindling discounts since they are using fewer of their own dollars to close a deal than was necessary just a few years ago,” said CNW.
With the supply of new cars dwindling, dealers are able to squeeze better prices for themselves: discounts from MSRP from early April were around 13%, down from 23% when the American auto market hit a 27-year low in 2009. Great news for salesmen, but consumers looking at smaller, fuel-efficient cars are going to have to try harder to fulfill their own supply and demand.
[Source: Automotive News, OC Register]
More by Blake Z. Rong
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