![]() There are two schools of thought when it comes to timing a new car purchase today, Drury says. There's also a greater sense of urgency to make a quick decision on a deal because the car may not be there if you take too much time to think about it. ![]() On the other hand, popular brands such as Kia, Honda, Toyota, Dodge and luxury brands such as Land Rover and Cadillac had average transaction prices above MSRP.Ĭustomers shopping a brand with above MSRP pricing will have little to no negotiating power. As of May 2023, brands offering the greatest discounts were Alfa Romeo, Volvo, Ram, Infiniti, Buick, Audi, GMC and Mercedes-Benz. "For consumers, this means a lot more research as there are no longer any universal truths to discounts and car buying."Ĭar shoppers today are likely to face price hikes from either dealer-added (often non-negotiable) accessories or " market adjustments." Discounts are around but vary by brand. "We're going in the right direction, but the degree to which you could call a discount getting closer to normal varies quite a bit from one make to the next," said Ivan Drury, director of insights for Edmunds. And while inventory has improved in recent months, it is nowhere near prepandemic levels. Summer 2023 update: The ongoing semiconductor chip shortage and subsequent vehicle shortage have caused prices for both new and used cars to hit record highs.
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