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Despite elevated vehicle prices, soaring interest rates and high inflation, there are no signs that demand is falling off yet.
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September marks a record 16th straight month that new-vehicle ATPs were higher than the average manufacturer’s suggested retail price (MSRP).
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Arriving at Kia retailers in October 2022, the 2023 Telluride comes in two new trim levels — X-Line and X-Pro.
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But don't get too excited. Days supply is still far below historical levels and production has yet to catch up to demand.
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The average price paid for a new vehicle in America now tops $48,000. Supply of popular segments – like subcompacts, hybrids and EVs – remain low.
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Sales into commercial fleets were up 37% and sales into government fleets were up 28% last month compared to August 2021.
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The average price for a new electric vehicle – over $66,000, according to Kelley Blue Book estimates – remains well above the industry average and more aligned with luxury prices versus mainstream prices.
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Experienced fleet managers say they’re seeing prices move up quickly, often faster than they can easily track to keep their choice lists current.
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The challenges center on OEMs looking to channel stock availability to more profitable retail and constantly increasing prices with no promise of price lock-in when the cars are delivered 12 months down the line.
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The 2023 Mazda CX-5 with the returning standard i-Activ AWD will arrive at dealerships this fall with a starting MSRP of $26,700.
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