A new study from Edmunds' executive director of insights Jessica Caldwell digs into the data behind the growing affordability issues for everyday consumers trying to buy new vehicles in today's market.
Leveraging Edmunds' transaction price data from March 2023, her study shines a spotlight on:
- The disappearance of the $20,000 new vehicle in America
- The rise of the $60,000 new vehicle
- A major shift toward higher prices across larger vehicles (for example, 94% of large SUVs sold in March 2023 were over $60K compared to 54% just five years ago)
- Growth in demand in the used market as more consumers get pushed out of the new market
Please find the full article here: www.edmunds.com/car-news/where-did-all-the-cheap-cars-go.html
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