FROM BLOOMBERG: MSRPs Have a Whole New Meaning in Upside-Down U.S. Car Market
Manufacturer suggested retail prices are now the starting point for new vehicle transactions, with many dealers tacking on additional fees. In 2012, only 6% of vehicles had MSRPs above $50,000. In the last ten years, that number has risen to over 30%.
FROM AUTOMOTIVE NEWS: Throughput Recovers at U.S. Dealerships Last Year
While the overall number of both dealerships and franchises dropped for the second year in a row, new vehicles sold per dealership increased 3.6% last year after a significant dip in 2020.
FROM REUTERS: U.S. Auto Sales Slump as Less Affluent Buyers Walk Away
Households making less than $75,000 a year are purchasing fewer vehicles than in 2021, pushing the average income of a new vehicle buyer up to $124,000. Commercial brands are losing market share to their luxury counterparts as the shopper pool narrows.
FROM CNBC: These Charts Show How Much It Costs to Charge an EV vs. Refueling a Gas Vehicle
Gas prices aren’t the only things rising – electricity costs in popular EV markets are also moving proportionally to gas hikes. However, the cost to power an EV still remains consistently lower than fueling an internal-combustion vehicle.
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