Anyone who buys a car during the coronavirus epidemic may have noticed at least two things: there are very few cars and the price of their stickers is very high.
Between inflation and the fear of recession, buying a car in this climate is certainly not for the faint of heart.
“If you go to a car dealership these days, you either see lots of asphalt or you see lots of used cars in places where there will usually be new cars,” said Tyson Jomini, JD Power’s vice president of data and analysis.
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As of January 2015, the average price of a new car sold in the United States was 30,694. By February 2022, that number had risen 44% to $ 44,232.
“So what we see in terms of car prices really stems from the fact that there is hardly any inventory,” Jomini said.
Watch the video for car buying advice if prices are high and inventory is low.
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