Vehicle Prices Up 10% From Last Year

fmdog44

fmdog44

Well-known Member
Location
Houston, Texas
With the exception of electric vehicles, new vehicle prices keep climbing, as incentives drop. That's the latest analysis of the recent car market from Kelley Blue Book.

All-Time High New Vehicle Prices​

According to Kelley Blue Book's August sales breakdown, new vehicle prices hit another all-time high in August 2021, marking a fifth straight record-setting month. In August, the average transaction price (ATP) for a new vehicle was $43,355, jumping nearly 10% ($3,789) from one year ago in August 2020, and up 1.6% ($685) from July 2021.

Sales Dip For 4th Straight Month​

At the same time, KBB says the industry saw its fourth straight month of a slowed sales pace. Researchers points to a number of contributing factors for the sales dip. Its researchers say car shoppers faced limited inventory, high prices and historically low incentives. In August, total sales last month numbered just 1,092,302, among the lowest monthly total in a decade. It's also the lowest volume since April 2020, when the global COVID pandemic initially shut down U.S. businesses.
 

I'm going to sell our 2000 Honda Accord. I have no idea how much it's worth, though, but it just sits on the street. We haven't used it since the pandemic began, and we're paying insurance and for tags and everything.

Anybody know what a 2000 Honda Accord is worth? I was thinking about seeing what used car lots are getting for them and then cutting that price by 25% or so.
 
I’m wondering if the headline a year from now will be last years new car buyers upside down in loans and leases as car prices normalize or lose value due to surge in electric car sales and incentives.

Prior to the pandemic I used to laugh at the artificially high sticker prices on many trucks and SUVs where the dealer would drop ten thousand dollars before you walked in the door.
 

Hate to harp on the Covid but breaking it all down it is responsible for most of the product woes in America. Transportation is craving for workers. Simple deliveries are off because of a lack of drivers. Parts are in shortage everywhere. I did hear prices for used vehicles are starting to fall so that is one piece of good news.
 
Alligatorob said:
Try one of the online pricing things. KBB.com says $2,135, but that is just a guess, you would need to put your car's particulars in. Could be more or less. Prices are up right now, good time to sell.

https://www.kbb.com/honda/accord/2000/dx-sedan-4d/?category=sedan&condition=good&intent=buy-used&mileage=157858&options=6441444|true&pricetype=private-party&vehicleid=6248
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Thanks, Rob! Good idea!

It's an EX with leather seats, so it's worth a bit more... around $2,500 and only about $1,000 for trade-in.
 
Irwin said:
Okay, let's see what carfax gives me...

$2,200 for private sale and $990 for a trade-in.

I actually thought it was worth a bit more than that. :unsure:
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Just before the pandemic I bought a 2 year old car from a dealership. They offered me $500 for my car 2000 Infiniti SUV. The salesman told me to sell it privately because I should be able to get at least $1500 for it.

I parked it on my street with a for sale sign that listed the low mileage and "$1800 Firm"on it. Three people called and came to take a look. Two tried to talk me down, but I didn't budge. I sold it in less than a week to the third guy and got my price.

Prices for used cars were lower then, Irwin. You might get more than you expect.
 
Vehicle prices...both new and used...are inflated due to manufacturing issues on new vehicles. This is a bad time to be having to buy a new or nicely maintained used vehicle. The Sellers are reaping nice profits, but the buyers are paying a lot more than necessary. If a person can keep their current vehicle running for a reasonable cost, waiting another year or two would be wise.
 
Don M. said:
Vehicle prices...both new and used...are inflated due to manufacturing issues on new vehicles. This is a bad time to be having to buy a new or nicely maintained used vehicle. The Sellers are reaping nice profits, but the buyers are paying a lot more than necessary. If a person can keep their current vehicle running for a reasonable cost, waiting another year or two would be wise.
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no one is winning here and the dealers are struggling because they don’t have inventory .
my son owns a car company …..they normally have over 300 cars on the lot …they have 30 ….factories are struggling to get cars out ….
 
Don M. said:
Vehicle prices...both new and used...are inflated due to manufacturing issues on new vehicles. This is a bad time to be having to buy a new or nicely maintained used vehicle. The Sellers are reaping nice profits, but the buyers are paying a lot more than necessary. If a person can keep their current vehicle running for a reasonable cost, waiting another year or two would be wise.
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I don't understand how one can afford a high end (brand new) car during these times. My niece had a 2022 BMW (not sure which SUV model) delivered to her school where she teaches. A surprise birthday present from her hubby. Must be nice. :LOL:
 
Irwin said:
I'm going to sell our 2000 Honda Accord. I have no idea how much it's worth, though, but it just sits on the street. We haven't used it since the pandemic began, and we're paying insurance and for tags and everything.

Anybody know what a 2000 Honda Accord is worth? I was thinking about seeing what used car lots are getting for them and then cutting that price by 25% or so.
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I would not cut the price. Everything I hear on the news said used vehicles are selling at great prices. Check the prices for used cars at the dealerships. I bet your Accord is worth more than you think!
 


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