If you're in the market for a new set of wheels, there are a few things to keep in mind to avoid scams, as auto thefts continue to ramp up.
“I think we’re actually finally at a point now where we’re seeing supply levels, both in North America and globally, start to get back to what we might consider a little bit more normal in that pre-pandemic context.”also argued that “the automotive industry returned to a state of normality in 2023” as easing supply chain issues helped facilitate a “rebound” in production.
The report expects that new vehicle prices peaked in September 2023. While the average new vehicle price of $66,422 in March was up 7.4 per cent compared to last year, that represented a slight drop of 0.8 per cent on a monthly basis. This past February marked an all-time high for vehicle sales in the month, Johnson notes, though he adds a caution that there are some forces under the hood that might serve as a caveat.
Bernard says there are some categories of vehicles where suppliers “overbuilt,” and therefore are more likely to offer discounts and other incentives to get consumers onto the lot.
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