Stellantis CEO Claims New Vehicle Prices Are Pushing Buyers Out Of The Market

With new vehicle prices running at record levels and shortages and inflation threatening to push sticker prices even higher, there are signs some potential buyers are being pushed out of the market, Stellantis CEO Carlos Tavares said Friday.

The average transaction price of a new vehicle has been running north of $45,000 in recent months and one recent study found that more than eight out of 10 buyers are paying over MSRP. And the pressures behind rising costs aren’t easing up, the Portugese-born executive said during a Zoom call with a small group of reporters.

“I am very concerned about the effect of affordability,” said Tavares, warning it is “becoming much more of an issue as inflationary pressures escalate.

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