The picture is bleak for American automotive consumers, as the average price paid for new vehicles continued to grow higher than MSRP in 2022. That despite people already paying high prices in 2021, and manufacturers continuing to suggest higher and higher prices over the last 12 months.
A new study from iSeeCars, an online used vehicle marketplace, found that MSRPs rose 7.6 percent over the last year. The average price of a new car, as seen on a manufacturer’s website, rose from $38,707 in February 2022 to $42,608 in February 2023.
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