For much of the last four years, automakers and their dealers had so few cars to sell — and demand was so strong — that they could command high prices. Those days are over, and hefty discounts are starting a comeback.
During the coronavirus pandemic, auto production was slowed first by factory closings and then by a global shortage of computer chips and other parts that lasted for years.
With few vehicles in showrooms, automakers and dealers were able to scrap most sales incentives, leaving consumers to pay full price. Some dealers added thousands of dollars to the manufacturer’s suggested retail price, and people started buying and flipping in-demand cars for a profit.
But with chip supplies back to healthy levels, auto production has rebounded and dealer inventories are growing. At the same time, higher interest rates have dampened demand for vehicles. As a result, many automakers are scrambling to keep sales rolling.
Purchased a new Toyota Tacoma TRD Pro in 2020 for $45k. The new 4th gen 2024 TRD Pro is 45% price increase. Car manufacturers can get tucked with these prices.
I bought a new Corolla in 2021 for 18k. Totaled it a year later and the insurance company gave me 24k. That still wasn’t enough to buy a new one.
Another article about “deals”. Lower the prices. Deals are bs. These corporations have over reached and no one is buying their shit any more.
Yeah this appears to be a concerted propagandic effort, at least editorially.
I saw at least one more from NY times after this one. Marketing through the press
Dealers and car manufacturers can get fucked. New cars are gimmicky privacy invading gas guzzlers that cost a small fortune, fuck that. If I HAVE to buy another car, it will be something older than 1994 even if I have to tear the thing apart and rebuild it it will STILL be better than whatever ginormous SUV or Truck these cunts think of selling in order to circumvent the CAFE regulations.
Good news, but still far from over yet. Good luck to any family trying to get a Toyota Sienna minivan.
It’s a little weird when a Civic Type R has the same markup as a Telluride or Sienna
it’s a Type R, not a base model Civic with a traditional 4-cyl engine. Isn’t the type-R used for modification, racing, and supported by a whole secondary market?
I think maybe they meant it the other way around? Tuner/enthusiast trims have been getting high markups for decades. It’s weird that the family cars are now getting the same markups.
I bought one two years ago. Managed to snipe it before it went up on the web site. It still hadn’t been cleaned or detailed, but I didn’t care with how scarce they are.
Nothing beats a Toyota for reliability these days
I was getting harassed by my dealer to buy a new car, and I said I didn’t like the new cars and all their “features.” He said “fair enough” and left me alone after that.
Cool. I’m still never planning on buying a new car.
I’ve owned dozens of cars, none have been purchased new (or even from a dealership), and I hope I never will. New cars are just computers with wheels, it’s a no from me.
I bought one new car, it was neat but not that much better than a 3-5 year old used car with ~40,000 miles for half the price.
