New and used car prices keep climbing. Don’t expect relief anytime soon – CNBC

When it comes to car shopping these days, sticker price may mean sticker shock.

New and used car prices continue to spurt higher amid strong demand and tight inventory. While a manufacturing slowdown has improved slightly, there won’t be a return to normal anytime soon for car buyers.

“The typical dealership experience that consumers are familiar with — walking dealer lots with rows and rows of cars, negotiating over price and getting many incentives — is not likely to return this year because there are 4.5 [million] to 5 million consumers on the sidelines waiting for cars,” said Tyson Jominy, head of data and analytics for J.D. Power.

More from Personal Finance:
Auto insurance expected to cost 5% more in 2022
How to insure your trip amid airline cancellations
Your best money moves before interest rates rise

“This pent-up demand will keep inventories low and prices high throughout most of 2022,” Jominy said.

An ongoing global shortage of microchips — key components needed for today’s autos to operate — that began in 2020 continues to slow down manufacturers’ production of new vehicles, which has translated into demand outpacing supply.

“It’s slightly better in the sense that there is no more drop-off of inventory — it’s not getting any worse,” said Ivan Drury, senior manager of insights for “But we’re still talking many months out until it starts looking more normal.”


Leave a Reply

Your email address will not be published. Required fields are marked *



NASCAR’s Symmetrical Next Gen Cars Are Getting Skewed In Practice – Jalopnik

NASCAR’s newest Next Gen cars may be designed to make these vehicles as symmetrical as possible, but some teams have already found a way around the rules. During this week’s test session at Daytona International Speedway, some cars have been running some fairly excessive skew — and right now, it could very well be totally legal.

Basically, skew refers to the angled nature of the NASCAR Cup Series car. The front end looks like it’s pointing in a different direction than the car is actually going, which gives the whole thing a sort of crab-walk look. The rear axle is mounted on a skew when compared to the whole chassis. For…….


Is Norway the future of cars? – Kathimerini English Edition

The speed by which electric vehicles have taken over Norway has stunned even the cars’ enthusiasts. [Asya Demidova/The New York Times]

Last year, Norway reached a milestone. Only about 8% of new cars sold in the country ran purely on conventional gasoline or diesel fuel. Two-thirds of new cars sold were electric, and most of the rest were electric-and-gasoline hybrids.

For years, Norway has been the world leader in shifting away from traditional cars, thanks to government benefits that made electric vehicles far more affordable and offered extras like letting electric car owners skip some fees for parking and toll roads.

Still, electric car enthusiasts are stunne…….