March was the first time in months that car buyers did not have to pay more.....
Today’s post is by Troy Lowe; Vice President of Development at SafeSourcing.
If you have been reading my BLOGs over the past few years, I have written a few about the rising price of items and how we are overpaying for a lot of things. I finally saw a headline today that caught my attention, and there may be some good news at least for people looking to purchase a new vehicle. The price of new vehicles has been dropping slowly over the past few months and according to the recent data, March was the first time in months that car buyers did not have to pay more than what the vehicle was listed for. This marks the first time in almost two years that the buyers did not have to pay more than the vehicle was listed for because of the high markups on the dealer lots. According to an automotive research company, brands like Chevrolet, Chrysler, Dodge, Ford, Hyundai, and others saw their average prices for their vehicles decline almost 4 percent in March. Not all the brands have seen this drop others like Kia and Honda vehicles are continuing to sell between 3 and 6 percent over the sticker price in the non-luxury market. In addition to this, new car prices have been trending down for a few months and March’s average price that was paid was about $1,000 less than December of 2022. Like I stated above this is good news for buyers who have been shopping and seen the higher prices and the really low inventory at the dealers since the pandemic started.
If you need help finding new vehicles for your company fleet, please contact SafeSourcing. We have sourced about every type of tractor, trailer, truck, car, sprinter, or van in your fleet. We have also sourced just about everything that keeps them running including M&R. We can gather all the necessary information for you and help you decide what brand offering meets your needs.