If you haven't been car shopping in a while, brace yourself

[Yo_Mama_Been_Loggin]

New York
CNN
—
It’s called sticker shock. And if you haven’t been to a dealer’s showroom since before the pandemic, you might want to prepare yourself.

Americans paid a whopping $47,612 on average for a new car in October, according to data from Edmunds. That’s a jump of almost $10,000 from October 2019, ahead of the pandemic. That means new car prices have risen much faster than most goods and services.

The price jump has multiple origin stories: The pandemic snarled supply chains and limited essential car parts. Buyers increasingly prefer larger cars with more features, continuing the decades-long shift to bigger, more expensive SUVs and trucks.

But much of the reason Americans are paying nearly $50k for a car is that automakers decided to go all-in on expensive cars. The more they charge for a car, the more money they make off it.

https://www.cnn.com/2024/11/16/business/50k-car-prices/index.html

No thanks.

[TBF]

1. Just wait until they start the tariffs -

I'm gonna be driving my old Hyundai for a LONG time.

[wryter2000]

2. I'll keep my Chevy Spark

Cheap all around

[Ars Longa]

10. I love my old Pontiac Vibe.

It's just a Tank!!

[SunSeeker]

31. I miss my Pontiac Vibe so much!!

It ran like a clock with 200k miles on the odometer, and had so much pep off the line. Then I gave it to my son and he wrecked it (he was fine, but the car was toast).

Best car I ever had!

I now drive a Ford Escape. It feels so big and clunky compared to my old Vibe.

[RussellCattle]

3. It's true, but hard to understand. The dealers are sitting on (and paying loan interest on) enormous numbers of new....

......cars on their lots. In some cases the country has three to four hundred days supply of some models on the dealer lots and the factories are faced with shut downs or ponying up for more rebates. Tough business to be in today, just ask Stellantis.

[Scrivener7]

4. Auto makers provide them because Americans buy them. About 70% of the cars

and trucks on the road right now are absurd.

The Joneses are really not worth keeping up with.

[MichMan]

5. Bought one about 6 months ago

Cost around $36,000 before tax and registration

[Fiendish Thingy]

6. 20% inflation since 2020, a $55k car becomes a $65k car

I just placed an order for a Toyota RAV4 plug in hybrid, sticker price $67kCAD (top of the line, w/all bells and whistles- might be the last car I ever buy)

I’ve been researching this car for a few years, and was not surprised with the price increase- the MSRP was only about $1500 over the 2024 model.

[Phoenix61]

7. Starter cars like starter homes seem to be a thing of the past. nt

[MichMan]

14. They call them "used cars"

[The Madcap]

30. Haven't bought a new one

Since 2000. I shoot for less than 40k miles and don't go crazy on giant suvs. I bought two for my daughters and one for my wife for less than 60k altogether, all after the pandemic.

My next one will be a bicycle.

[flying_wahini]

8. I was shopping for another one today, as a matter of fact.

My “old” 2011 Subaru Outback is in need of repairs and gonna spring for a new one before they up the prices anymore.
Actually surprised that sticker with more than I need is about $38k which means I’ll walk away at about $40k.
It will be my last car so I’m going for it.

[BlueWaveNeverEnd]

9. viral videos ask people to share their monthly car payments: $700, $900, $1000 are common

[Mariana]

11. Yeah, we had to buy a car last year

after my beloved 2009 convertible got totaled. Yikes. We usually buy used, but there was very little available and the prices were crazy. Double yikes. I'm sure it's even worse now.

[sakabatou]

12. *gets around on my pedal bike*

[KentuckyWoman]

13. I am willing to pay more for no tech

My 2003 buick is giving me fuss. I am over 80 yrs old, my driving is very limited. I will pay to fix as long as parts can be gotten. Told the service guy he should open a corner lot with solid no tech cars with crank windows. Although I do wish I had a back up camera.

[msongs]

22. u can get a camera installed for probably under $500 nt

[Prairie_Seagull]

49. I have never owned a brand new car.

Once I had a company car that was new but other than that I believe that one can, especially now buy a used car replace the engine and the transmission and still be way ahead in terms of bottom line and still have little to no tech.

My next project will be a electric car or hybrid. Have to get my degree first. haha

[True Blue American]

60. Get a Buick Investa Avalon.

Costs less than half but has everything on it.. I bought mine about 6 months ago. Love it. Plenty of power, easy to drive and park.

[Mosby]

15. They don't want everyone to be able to buy a new car.

The future for the manufacturers are self driving cars, that's why there is so much being invested in the technology. We have them everywhere in Phx.

[MichMan]

16. Why wouldn't the manufacturers want more people buying new cars?

[The Madcap]

32. Good luck with that

Why even own a car if everything is self driving? A phone call, and an elonmobile drives up

[BlueTsunami2018]

17. What a brilliant move it was to sell out our machine tool industry to China.

Reagan’s handlers haunt us to this day.

[Polybius]

18. I got my car in the low $30,000's in May with the EV discounts

I'm very happy with it.

[cadoman]

19. both the prices and MIX of inventory is awful -- but look at what Asia has done that we can emulate

There is a near zero inventory of entry level vehicles. The Honda FIT no longer exists.

Meanwhile over in Asia there are a plethora of modestly priced vehicles that are environmentally friendly as well as pragmatic. Everything from scooters to bikes to buggies to carts to small trucks. Those small carts and trucks would be exceptional vehicles in crowded cities where folks need to shuffle inventory for a small business or pull over opportunistically to sell their wares.

Democrats need to get out in front and lead with some Asian-inspired vehicle legislation. Bring a $15k utility truck or a $7k cart to the American market.

[OAITW r.2.0]

27. As some who has been in China/Taiwan since th 90's. This is a welcome change.

Being in Taipei during the rush hour in 1990,was weird. 2-stroke scooters making noise and pollution. Now, batteries/solar tech rules the day.

[AlanAdam]

46. I live in Hsinchu, Taiwan.

Most people here use Vespa-like motor scooters. Vast majority of those are four-stroke gas powered, occasionally electric, but not many. Sometimes three to four people on a scooter, including very small children, even pets. In the US, you wouldn't go five minutes before being arrested.

[MichMan]

33. They won't meet US crash and safety regulations

[Igel]

20. The appropriate question is why they went all-in on expensive cars.

The answer is two-fold.

(1) They needed to fund other parts of the company. Some is shareholders, but a lot is building out other parts that they want to emphasis for future development.

(2) CAFE and the requirements to avoid fines for violating CAFE.

[msongs]

21. low end nissan rogue is $30K nt

[surfered]

23. Patience, there may be deals during the Trump recession.

[Yavin4]

42. There won't be a Trump recession.

It will be a full blown, multi-year depression.

[Takket]

24. there are lots of new cards in the low $20k range still. Paying $50k is definetly a choice

and people making that choice is an indicator of how well the economy is doing under Biden.

Not for long.

[hatrack]

25. The 2024 Testosterone Shitwagon - Coming Soon To A Dealership Near YOU!!!!!

As long as dumbass buyers just gotta have dumbbass Truckzillas, they can expect to get soaked.

[OAITW r.2.0]

26. Bought a 2018 Ram 4x4 1500 in 2021, coming off lease.

I thought the $32K price-tag was outrageous. But now I see 2024 Ram 1500 4x4 prices and I am amazed and wonder....how do people starting out buy one?

[calguy]

28. I remember back in the '40's and '60's...

The average contract for a new car was two years. Now it's like 5-6 years, even 7 in some cases to pay off one of tbese over-priced, over-loaded vehicles they're selling these days.

[Bluetus]

29. FWIW, this report says the average new car costs 9 months wages

which is actually pretty consistent with history and down considerably from a year ago. That is mostly because for the first time in 40+ years, real wages for a broad swath of the American work force have gone up.

https://www.theautopian.com/the-average-new-car-now-costs-a-family-less-than-9-months-of-income-to-afford/

And one should also consider that cars last MUCH, MUCH longer than they did a generation ago. Every day, I see 15-year-old cars that look almost new and seem to have no mechanical problems. One of the more surprising cases to me are Saturn cars, a brand that GM shut down in 2009. I still see lots of them and they look great, probably because they used resilient plastic door panels and fenders. It is very ordinary for cars to last 150,000 - 200,000 miles without major repairs.

Part of the statistical anomaly here is that about 15% of the purchases are EVs or hybrids. They cost more, but there are but fuel savings over the useful life, so that distorts the "price of a new car" statistic.

[Xolodno]

34. I always buy used.

You may not get the color, features, etc. you want, but as a remote worker, I just need it to get me to the grocery store and back. If I go on a long road trip, I rent a vehicle.

And I buy through the rental companies, as they maintain the vehicles with rigor, plus the price is mid ranged. You walk in, test the car, come back in and sign the paper work. None of the back and forth with a sales person and my time is valuable.

Add to that, when they have a problem car, they don't sell it and put it up for auction. Where dealers pick them up and sell from their lots.

[Kaleva]

35. I've only purchased a new vehicle once in my life

That was 25 years ago.

[Blue_Tires]

36. Well, what were people expecting?

Consumers now expect all the technology connectivity and other amenities standard now... They also expect touchscreens the size of dinner trays, 16-way power adjustable seats, oversized option wheels with ZR rated Michelin tires, and enough oomph in the powertrain to comfortably pass that other jaggoff on the interstate who's only doing 90 mph in the right lane...

All this stuff costs money, people! And God save the poor souls paying 10% APR on their $80k car or truck...

[Blue_Tires]

37. "The more they charge for a car, the more money they make off it."

That there is some hard-hitting journalism 😅

[JI7]

38. And we ask why we lost

and I'm not referring to the cost here. But the lack of concern for the environment and people wanting bigger shit.

I'm referring more to the culture . Especially our consumer culture.

[soandso]

39. I bought a used car in 2020

which was rough because inventory was very scant. The dealer I bought it from sends me regular emails wanting to buy it back. No way. I am soooooo grateful to have a good car that was what I wanted.

[Meowmee]

40. I have to buy a new one

Mine is 20yrs old and has bad undercarriage rust. Due to new liability laws no one will fix it. I am dreading it, otherwise it is still a great car and I would continue driving it forever. I have seen prices way lower than that and I will probably get a pre certified older car this time. Just one more thing to worry about because it will not pass inspection next time they told me.

[Yavin4]

41. No better proof that the whole economic anxiety argument was bullshit

People struggling economically do not spend $50K on automobiles, and auto makers wouldn't sell them if the economy was as bad as MAGA said that it was.

[Scrivener7]

44. Yes!!!!! This, this, this, a thousand times!!!!

[kerry-is-my-prez]

43. I don't buy a car unless my car dies and it's too costly to fix.

I had an old Mercedes that actually was a vintage car. I have a 2011 mini cooper that is paid off that I plan on keeping for as long as I can also - I hate shopping for cars.

[Emile]

45. If all customers would quit buying them for a few months

they would drop the prices.

[MichMan]

66. Millions and millions are employed in the auto sector. My state would likely see an economic collapse

[Emile]

67. That's how much power the consumer has, thanks

for pointing it out.

[MichMan]

68. Surprised to see people here hoping for unemployment, and foreclosures

As long as it doesn't affect them

[Emile]

69. Tell that to the predatory capitalists jacking up prices.

[MineralMan]

47. Yes, but a base model KIA Soul is still about $20K

So is a 2025 base trim Chevy Trax.

So, while, yes, you can spend a lot more, there are still perfectly serviceable cars for less than half that average price.

The market price is skewed by the overpriced pickup models.

Just buy a smaller car.

Disclaimer: I own both a KIA Soul and a Chevy Trax. 2020 and 2021, respectively. They cost about the same then.

[Yo_Mama_Been_Loggin]

50. Kias are apparently easy to hotwire

I wouldn't buy one for that reason.

[MineralMan]

51. Some were, yes.

That's been taken care of in the 2024 and 2025 models, though.

Personally, I don't worry about my 2020. It's garaged and doesn't go out at night, which is when the teenagers are stealing them.

There's also the Chevy Trax. It doesn't have that issue at all, and it's right in that price range, too.

In any case, my point was that there are cars available for less than half of that average price figure. From other makes, too.

It's a choice, you see.

[obamanut2012]

52. They have corrected that in the new models

[True Blue American]

58. Just bought a new car about 6 months ago when

Someone,stopped,pulled out on a flashing red light, BROADSIDED ME. Totaled my Buick LaCrosse. Drove in the Dealers parking lot. He had just gotten in 2 new ones, red and Blue gray. I took one look, said ,” That is the car I want, I hate SUv’s.!” drove out as soon as they got it ready, Buick Investa.

I love that car, has everything on it,easy to drive, park.
Cost about half what you pay for a big SUV. Car, but hads a hatch back.

[MichMan]

64. Korean cars like your Soul and Trax are often cheaper n/t

[MineralMan]

65. Yes, they are.

I'm not sure that's relevant, though.

[hunter]

48. I bought a new car once in the mid 'eighties.

I'll never do that again.

Buying new cars only encourages them to make more.

[PennRalphie]

53. People are buying expensive cars

Because they can afford them. I’ve been saying for months now, the economy is booming. People have money to spend and, oh boy, are they spending it.

It’s my criticism of whoever was in charge of Kamala’s campaign. Not enough focus on the good economy.

[underpants]

54. Carmax people

I own stock 😀

[Johnny2X2X]

55. I'll never get buying new

The depreciation the second you drive off the lot is just a waste.

And I am top 10%, so who are all these people buying new cars? I just don't get it. You can buy 2 years old with low miles and still plenty of factory warranty left for like half price. I look for used cars with 15-25,000 miles on them. I'm just never going to be able to tolerate a car payment more than a few hundred a month. I don't care how well I am doing financially, unless I win the lotto I will always have used cars.

I have a 10 year old car with 76,000 miles on it, has everything I want and need, will keep it for at least 3 more years.

[cilla4progress]

57. Jinx!

I posted the same before I saw your post!

We just bought a dandy 2014 Outback with 110K miles. Very happy with it!

[cilla4progress]

56. And they depreciate by about 50% when you drive off the lot!

No more new vehicles for us!

[genxlib]

59. If you think the vehicle is expensive

You should try buying insurance for it in South Florida.

It's insane. For the first time ever, I think my insurance cost will be the biggest share for cost of ownership.

[berksdem]

61. I work form home and bought

a used Toyota 4Runner years ago that still have low mileage and is in pristine condition. In today's world every single time I go into the dealership I get nonstop offers to upgrade to a new model. The issue is the new model is so overpriced it is a joke. I will gladly keep my 2013 4R with low mileage and drive it forever. Under Trump's reign I am only purchasing the necessities. They can keep their overpriced vehicles...

[sky_masterson]

73. My 2002 Tacoma has been in the shop maybe twice

Hold onto that thing. Great trucks!
Ever notice that when you see videos of terrorist groups in the desert driving around in trucks they are often Toyotas.

[berksdem]

74. LOL!

Completely agree... My 4R will be with me for a long time!!

[mudpuddle]

62. I wish I could buy a Toyota HiLux Champ

It is a stripped down (about $13k) version of the Tacoma pickup (about $31,500).
The Champ is not available in the US.

[Basso8vb]

63. Now that none of us can afford to own a home.

We can just take out a 30-year car mortgage.

[ecstatic]

70. I'm going to be up schitt's creek in 1.5 years

Leasing has been my only vice for the past 14 years. Against my better judgment I did it again last year even though I had a bunch of equity and the prices were very inflated. I guess I could keep the car I have but I've already emotionally detached from it. I guess we'll see...

[sky_masterson]

71. I'll stick with my 2002 Toyota Tacoma

111,000 Original Miles. Had to replace the door handles yesterday because the plastic was 22 years old and both were starting to break.
At my age, no sense getting another truck. I can make it last another 15-20 years.

[alcuno]

72. Looks like people are spending way beyond their means.

$47,000 is the average for a new car? I got a new one in October after 14 years (have to laugh at the difference in the technology). Could have afforded a new car in between but I'm frugal. Got a small SUV for 35k. Will probably keep it for at least 10 years.