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
November 2024
- Top 100 Cheapest Lease Deals Nov 14, 2024
- Biggest Discounts on New Cars November 2024 Nov 14, 2024
- Cars With the Largest Rebates Nov 14, 2024
- Real Prices of Midsize SUVs Nov 14, 2024
- Best 0% Finance Deals November 2024 Nov 07, 2024
- Best Bang for Your Buck Lease Deals Nov 07, 2024
- Best Electric, Hybrid Lease Deals Nov 07, 2024
- Real Prices of Large SUVs Nov 07, 2024
October 2024
- Best Car Deals by Category Oct 31, 2024
- Real Prices of Compact Cars Oct 31, 2024
- Which Cars Better to Lease or Buy Oct 31, 2024
- Largest Hidden Dealer Rebates Oct 31, 2024
- All SUV Lease Deals Compared October 2024 Oct 24, 2024
- New Cars with the Most Available Inventory Oct 24, 2024
- Real Prices of New Compact SUVs Oct 24, 2024
- Nissan Special Deals Alert Oct 24, 2024
- Top 100 Cheapest New Cars for 2024 Oct 17, 2024
- Best Car Deals Around the Country Oct 17, 2024
- Cheapest Luxury Lease Deals Oct 17, 2024
- Real Prices of Midsize Cars Oct 17, 2024
- Real Prices of Pickup Trucks Oct 10, 2024