New Car Prices Hit Record Highs
Car prices are at their highest levels in history.
In May, the average price of a new car was $29,817 - up $608 from a year ago and $215 more than the previous month's prices.
Some manufacturers have raised prices more than others.
Ford's average price is $32,885 - a 5.2% increase from last year.
Hyundai and Kia have the lowest average prices with a current average of $19,217.
These nasty sticker prices reflect a tight supply for new cars thanks to the earthquake in Japan.
So what should a car buyer do? If you can wait, your best bet may be to buy at the end of the year when supplies are expected to be back to normal.
You can also look forward to lower prices on any leftover 2011 models.
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid
About The Author
Gregg Fidan is the founder of RealCarTips. After being ripped off on his first car purchase, he devoted several years to figuring out the best ways to avoid scams and negotiate the best car deals. He has written hundreds of articles on the subject of car buying and taught thousands of car shoppers how to get the best deals.Latest Weekly Car Buying Tips
April 2024
- New Cars with the Most Available Inventory Apr 25, 2024
- Best Car Deals by Category Apr 25, 2024
- Top 100 Cheapest New Cars for 2024 Apr 25, 2024
- Real Prices of New Compact SUVs Apr 25, 2024
- Top 100 Cheapest Lease Deals Apr 18, 2024
- Worst Cars to Lease Right Now Apr 18, 2024
- Cars With the Largest Rebates Apr 18, 2024
- Real Prices of Midsize Cars Apr 18, 2024
- Best 0% Finance Deals April 2024 Apr 11, 2024
- Best Bang for Your Buck Lease Deals Apr 11, 2024
- Best Electric, Hybrid Lease Deals Apr 11, 2024
- Price Comparison of Subcompact SUVs Apr 11, 2024
- Biggest Discounts on New Cars Apr 04, 2024
- Real Prices of Large SUVs Apr 04, 2024
- New Cars You Should Wait to Buy Apr 04, 2024
- Largest Hidden Dealer Rebates Apr 04, 2024
March 2024
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- Which Cars Better to Lease or Buy Mar 28, 2024
- Nissan Rogue Special Deals Alert Mar 28, 2024
- Cheapest Luxury Lease Deals Mar 28, 2024
- Real Prices of Compact Cars Mar 21, 2024
- Best Car Deals Around the Country Mar 14, 2024
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