Autos

Buyers are paying ‘well above sticker’

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Demand for cars is high, but supply is still constrained

Forget getting a deal; these days, anyone in the market for a new car could pay thousands over the sticker price before they drive off the lot.

Limited inventory due to a persistent shortage of computer chips, along with other supply-chain challenges, helped propel new car prices up 10% from a year ago, according to the latest data from the U.S. Bureau of Labor Statistics.

For new cars, the average transaction price reached an estimated $46,259 in August — the highest on record, a separate J.D. Power/LMC forecast found.

And now, as demand continues to exceed supply, dealers are even charging a premium over the manufacturer’s suggested retail price on new vehicles, according to car…



Source cnbc.com

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